Consumer IoT - Thailand
Thailand- The Consumer IoT market in Thailand is expected to experience significant growth in the coming years.
- According to projections, the revenue in this market is set to reach US$******m by ****.
- Furthermore, it is anticipated that the market will exhibit a compound annual growth rate (CAGR *********) of *****%.
- This growth trajectory will result in a market volume of US$****bn by ****.
- When compared to other countries globally, United States is expected to generate the highest revenue in the Consumer IoT market.
- In **** alone, United States is projected to generate a substantial revenue of US$*****bn.
- The consumer IoT market in Thailand is growing rapidly, with an increasing number of households adopting smart home devices and wearables.
Definition:
Consumer IoT refers to use of internet connected devices personally used by the end consumer, and not used for commercial purposes. Example of these are Smart Home device or wearables such as gaming equipment (AR/VR devices). The Consumer IoT market is defined by revenues generated specifically from components and services that enable connectivity and intelligence. These include hardware (e.g., sensors, chips, and other IoT-specific components), platforms (e.g., IoT platforms, security software), connectivity solutions (e.g., cellular, LoRa, SigFox), and services (e.g., equipment/system integration and maintenance).
For example, in the case of a smart security camera, only the IoT-related portion of the product contributes to the IoT revenue. This includes the components and features that make the camera "smart" and capable of connecting to the internet (such as IoT sensors or connectivity modules), but not the full price of the camera itself.
Additional information:
The Internet of Things market compromise of revenue, revenue growth and volume as the key performance indicators. Reported market revenues include spending by consumers (B2C).Revenues are allocated to the country where the money is spent.
Some of the key players include Bosch and Qualcomm.
For more information on data displayed, use the info button right next to the boxes.
- IoT-part of wearables such as smart watches, smart glasses and fitness trackers
- IoT-part of smart home devices such as hubs, smart speakers, security cameras, smoke detectors
- IoT-part of smart toys such as programmable robots
- Smartphones
- Laptops
- Tablets
Revenue
Volume
Analyst Opinion
Consumer IoT, or the Internet of Things for consumer applications, has seen tremendous growth in recent years as more and more devices are being connected to the internet. From smart thermostats to connected doorbells, consumers are embracing the convenience and control that these devices offer.
One of the biggest challenges is ensuring the security and privacy of consumer data. As more and more devices are connected to the internet, there is a growing risk of cyberattacks and data breaches. Companies must invest in robust security measures and protocols to protect consumer data and prevent unauthorized access.
Finding compatible smart devices from different manufacturers and connecting them has been a tedious mission. A potential solution to this problem is the manufacturer-independent protocol called Matter, which has been accepted by leading companies such as Bosch, Apple, and Samsung. The new universal standard would allow end users to combine devices from various manufacturers, eliminating one-brand ecosystems, and it is already becoming a norm.
Global Comparison
Methodology
Data coverage
The data encompasses B2B, B2C and B2G revenues. The revenue only refers to the spending share of the Internet of Things components.
Modeling approach/ Market size:
The market size is determined through a combination of top-down and bottom-up approaches. We use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as consumer spending, internet penetration, 4G coverage, and current and historical developments. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques but primarily exponential smoothing. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.
Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.
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