As Z-Wave Alliance Membership Passes 325 Companies With Over 1350 Certified Z-Wave Products and 40M Units in the Market, Z-Wave Dominates the Residential IoT Market
MILPITAS, CA--(Marketwired - Jul 14, 2015) - According to a new Markets and Markets report, the smart home industry is estimated to reach $58.68 billion by 2020. Segments such as security and smart locks are driving the smart home market currently and with over 90% penetration in this segment, the Z-Wave Alliance continues to grow the Z-Wave smart home ecosystem for consumers and manufacturers, alike.
With a record-breaking Z-Wave quarter, Sigma Designs announced that 40M Z-Wave IoT devices have shipped at the close of Q1 2015. With more manufacturers, integrators, installers and service providers turning to Z-Wave, Z-Wave Alliance membership has grown by 30% over the same period last year, resulting in the addition of more than 75 new full members to the organization's roster. The year kicked off with the induction of SmartThings and LG Uplus to the Alliance Board of Directors, while new member companies and brands include Samsung SDS, Technicolor, Huawei, KT (Korea Telecom) and Nutone among numerous others.
With the addition of new members and expansion of existing members, Z-Wave certification has compounded, delivering broad, global Z-Wave product availability and compatibility to the market. With more than 1350 total Z-Wave certified devices, including 100 new Z-Wave Plus(tm) certifications, consumers have a path to the smart home that guarantees interoperability plus backward compatibility of all Z-Wave certified devices in the market, regardless of product, brand or retailer.
"The Z-Wave logo not only means it works, it means it works with any other product with the Z-Wave logo. It has become the easy-to-understand moniker and trusted brand for today's smart home," said Raoul Wijgergangs, interim chairman of the Z-Wave Alliance and VP for Z-Wave business unit for Sigma Designs.
"By 2020, the IoT market opportunity will be two to four times greater than the combined installed base of computers, smart phones, tablets and smart TV's we have today," said Wijgergangs. "This is why you are seeing big players move into the space."
At WWDC15, Apple announced that iOS 9 will support HomeKit, Apple's framework for controlling connected accessories, and will be compatible with various home security systems. "Z-Wave already has the largest footprint in the security industry -- every major player is an active member of the Z-Wave Alliance and developing on the Z-Wave standard," said Z-Wave Alliance Board of Director member Avi Rosenthal. "We project that with HomeKit entering the market and Z-Wave as the largest available smart home ecosystem at retail today, consumers will naturally migrate to what is known, proven and popular, and Z-Wave will continue to dominate the smart home."
Continuing to drive market innovation, the Z-Wave Alliance also created the Z-Wave Labs year-long IoT competition to accelerate exciting innovation on the Z-Wave platform. With the first winner announced on June 4, the program will continue to reward one selected individual/company each month through May 2016 with a 12-month membership to the Z-Wave Alliance as well as a Z-Wave Developer Kit.
"The first half of 2015 has been tremendous. Our vision for the smart home IoT all working together continues to amalgamate and we see Z-Wave as the unifying ingredient," said Wijgergangs.
In response to the growing demand a Z-Wave Developers Forum and Unplug Fest sponsored by Allion, will take place in Taipei, Taiwan on July 21-22, 2015. This 2-day technical event is open to Z-Wave Alliance Full and Principal Member's engineering staff delivering hands-on opportunities with the most current Z-Wave technologies.
Z-Wave® technology and is an open internationally recognized ITU standard (G.9959). It is the leading wireless home control technology in the market today, with over 1350 certified interoperable products worldwide. Represented by the Z-Wave Alliance, and supported by more than 325 companies around the world, the standard is a key enabler of smart home solutions for safety and security, energy, hospitality, office and light commercial applications.
Z-Wave® is a registered trademark of Sigma Designs (NASDAQ: SIGM) and its subsidiaries in the United States and other countries.
About the Z-Wave Alliance
Formed in January 2005, the Z-Wave Alliance is a consortium of leading companies in the home technology space dedicated to solidifying Z-Wave as the standard for wireless home control products. The principal members include: ADT, Evolve Guest Controls, FAKRO, Ingersoll Rand Nexia Intelligence, Jasco Products, LG Uplus, Nortek Security & Control, SmartThings and Sigma Designs. Alliance members lead the home controls market, providing leading edge products and systems that deliver increased comfort, convenience, energy conservation, safety and security.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements about the anticipated features and benefits of the Z-Wave product line and membership into the Z-Wave Alliance. Actual results may vary materially due to a number of factors including, but not limited to, consumer and customer acceptance of the Z-Wave product line, market acceptance for Z-Wave, including the Internet of Things market, the ability of Z-Wave to compete with other technologies or products in these markets as well as other risks that are not detailed in this paragraph. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. The Z-Wave Alliance undertakes no obligation to publically release or otherwise disclose the result of any revision to these forward-looking statements that may be made as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events
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