Smart Home Automation Drives Surge in Global Z-Wave Products Market

DUBLIN, July 28, 2023 /PRNewswire/ -- The "Global Z-Wave Products Market by Device (Controllers, Energy Meters, HVAC), Component (Hardware, Software), Application - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Z-Wave Products Market size was estimated at USD 9.89 billion in 2022, USD 11.15 billion in 2023, growing at a CAGR of 13.18% to reach USD 26.65 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Z-Wave Products Market.

The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading.

Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Z-Wave Products Market in order to forecast the revenues and analyze trends in each of following sub-markets:

• Based on Device, the market is studied across Controllers, Energy Meters, HVAC, Lighting Controllers & Devices, On/Off Switches or Devices, and Sensors. The HVAC is projected to witness significant market share during forecast period.
• Based on Component, the market is studied across Hardware and Software. The Software is projected to witness significant market share during forecast period.
• Based on Application, the market is studied across Connected Aging, Data Storage & Transfer, Energy Management, Home Management, and Smart Security. The Home Management is projected to witness significant market share during forecast period.
• Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The Americas commanded largest market share of 38.75% in 2022, followed by Europe, Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Z-Wave Products Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Market Dynamics

Drivers

• Increasing adoption of home automation products
• High investments for smart cities
• Implementation of wireless technology for security

Restraints

• Limited coverage area and cost increased with repeaters or routers

Opportunities

• Increasing IoT penetration
• Inclination towards energy efficient devices

Challenges

• Connectivity issues

Companies Mentioned

• ABB Ltd.
• ADT Inc.
• Aeotec Limited
• August Home, Inc.
• Fakro GB
• General Electric
• Honeywell International Inc.
• Inovelli LLC
• Jasco Products Company
• Leviton Manufacturing Co.
• LG Electronics Inc.
• Linear LLC
• Silicon Laboratories
• SOMFY
• ZWaveProducts

For more information about this report visit https://www.researchandmarkets.com/r/pogs2s

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