Develco Products among key players of growing Zigbee market
In the next years, the Zigbee market will grow at a promising rate according to a research report published by Market Research Future. Among the key players of the Zigbee market, Develco Products is listed.
Promising future for the Zigbee market
According to Market Research Future’s report “ZigBee Market Research Report - Forecast to 2023”, the secure, low-power wireless network referred to as Zigbee shows a promising future. The market size is expected to grow at a Compound Annual Growth Rate (CAGR) of around 8% between 2016 and 2023. By 2023, the market size is expected to reach 3.4 Billion USD. The report, which includes a market analysis, insights into trends, and forecasts until 2023, reveals who the prominent players of the expanding Zigbee market are. The list comprises a few vendors and among these are Develco Products.
Zigbee spreading across the world
The increase in the Zigbee market is greatly influenced by the high adoption of smart home devices, together with continuous technological advancements. These tendencies are evident across the world. The geographical analysis of the report reveals that North America is currently the dominating market, and Asia is expected to be the fastest-growing region. The European market shows a high adoption of Zigbee devices, contributing to the growth of the market in this region. Based on the analysis, Europe is expected to reach a significant market size by 2023.
Demand for Zigbee devices increasing
Increasing demand for Develco Products’ Zigbee devices reflects the direction of the market presented in the report. More and more solution providers realize the enormous potential of integrating devices communicating via the Zigbee standard into systems across the IoT industry. To meet the demand, Develco Products’ portfolio of Zigbee devices will continue to expand in the near future.
