The global ZigBee home automation market is forecast to increase at a compound annual growth rate (CAGR) of 26 percent from 2016 to 2020, according to a report from Sandler Research.

The ZigBee Alliance, a nonprofit association of companies creating, maintaining and delivering open, global standards for the low-power wireless Internet of Things (IoT), announced 38 new members have joined since the beginning of 2016.

The global market for ZigBee-enabled smart thermostats is forecast to increase substantially at a compound annual growth rate (CAGR) of over 67 percent by 2020, according to a market analysis by Technavio.

The ZigBee Alliance, an association creating open standards that define the Internet of Things (IoT), announced with the EnOcean Alliance, a consortium for battery-less, wireless smart buildings and homes, that the organizations will cooperate on combining the benefits of EnOcean energy harvesting wireless solutions with ZigBee 3.0.

The global smart thermostat market is projected to generate revenue of more than $1.3 billion by 2019, according to a report by Sandler Research. The report states that one of the main challenges faced by the smart thermostats market is the high initial cost, which exceeds that of conventional thermostats.

The global smart thermostat market is forecast to reach $2.21 billion by 2022, according to a new study by Grand View Research Inc. These devices allow users to remotely manage their heating and air conditioning systems using wireless connectivity and mobile apps.

Annual shipments of IEEE 802.15.4 and ZigBee wireless chipsets doubled last year and are forecast to reach a cumulative 2.5 billion chipset sales within the next five years, according to a report from research firm ON World. The smart home market is expected to utilize over two-thirds of the IEEE 802.15.4 chipsets at this time.