On September 28, 2018, California became the first US state to specifically regulate the security of connected devices (otherwise known as ”Internet of Things” or “IoT devices”). The new laws aim at increasing the security of IoT devices, whose global use is growing rapidly.
According the report, Consumer inclination for increased convenience and better lifestyle
is one of the primary growth factors for the market. Increasing adoption of smart devices and growing number of internet users
is also expected to contribute significantly to the Consumer IoT market. Overall, Wearable Devices
applications of Consumer IoT, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Consumer IoT market identified that the demand is rising in many different parts of the world as "Promising government regulations to promote green buildings
" Furthermore, some recent industry insights like "The key players are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new product launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the world to avail competitive advantage through combined synergies" is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Consumer IoT market by Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Consumer IoT market and other related sub-markets covered in the study.
o Key & emerging players in the Consumer IoT market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Consumer IoT market size is calculated using market estimation process, the Consumer IoT market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Consumer IoT market size has been validated using both top-down and bottom-up approaches.