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| Z-Wave Products Market |
Z-wave products such as lighting modules, thermostats, locks, sensors etc. help create smart and automated environments for homes and buildings, improving convenience, security and energy efficiency. The global Z-wave Products Market is estimated to be valued at US$ 12.91 billion in 2024 and is expected to exhibit a CAGR of 39.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The rising adoption of smart home automation is driving the
demand for Z-wave products significantly. Consumers are increasingly opting for
advanced home automation solutions that provide remote access and control over
various devices and appliances via smartphones and other connected devices.
Z-wave technology enables seamless connectivity of different smart home devices
including smart locks, thermostats, lighting fixtures etc. thereby allowing
users to monitor and manage their homes in an optimized manner from anywhere.
This growing preference for smart and automated living is expected to boost the
sales of Z-wave products during the forecast period.
Segment
Analysis
Z-wave Products Market is segmented based on product type as Z-Wave Systems,
Z-Wave Devices and Others. Z-wave systems sub segment dominates the market
owing to increasing use of Z-wave interfaces and controllers for security
monitoring and home automation applications. Z-wave systems provide ease of use
and provides interoperability between different manufacturers making it the
preferred choice.
Key Takeaways
The global Z-Wave
Products Market Growth is expected to witness high growth.
North
America is expected to dominate the market owing to high adoption of smart home
technologies and presence of key players in the region. The Asia Pacific region
is expected to witness fastest growth on account of rising disposable incomes,
growth in construction activities and increasing smart city initiatives in
developing economies like China and India.
Key players
operating in the Z-wave Products market are Solvay, Samsung SDI Co., Ltd.,
Cymbet Corporation, Panasonic Corporation, Saft, BrightVolt Inc., and Solid
Power. Solvay captures a major market share owing to its diversified product
portfolio of Z-wave battery solutions targeted towards security systems, smart
meters and smoke detectors. Samsung SDI Co manufactures Z-wave based memory
backup solutions majorly targeting smart locks, doorbell cameras and
thermostats.
For more insights, read- https://www.newsstatix.com/z-wave-products-market-trends-size-and-share-analysis/
For
more details on the report, Read- https://ceocolumn.com/tech/what-are-field-programmable-gate-arrays-fpgas/
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