Market Synopsis
A comprehensive study conducted by Market Research Future Reports (MRFR), the global smart connected devices market is accelerating at a rapid pace. The market is estimated to expand exponentially in the forthcoming period. The growing demand for mobile smart connected devices is likely to influence the global Smart Connected Devices Market. Besides, smart connected devices are being used in various industries, which is propelling the demand. Moreover, the rising demand for IoT is other significant factors resulting in the amplification of global smart connected devices market. In addition, the increasing demand for tablets, smartphones, and smart devices across the world is a crucial factor leading to market expansion. Apart from this, the BYOD trend is gaining popularity in developing and developed countries, which is accelerating market growth. Moreover, the increasing digitization for various applications and the rising disposable income is projected to augment the market growth. In addition, the innovation of technology and increasing internet penetration is leading to additional growth of the market.
Key Players
The established players of the global Smart Connected Devices Market Size are Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Motorola Solutions Inc. (U.S.), L.G. Corporation (South Korea), Nokia Networks (Finland), Hewlett-Packard (U.S.), Apple Inc. (U.S.), HTC Corporation (Taiwan), Dell Inc. (U.S.), Micromax Informatics (India), Gionee Communication Equipment Co. Ltd (China), Videocon Industries Ltd. (India), Lenovo Group Ltd. (Hong Kong), Acer Inc. (Taiwan), Blackberry Ltd. (Canada), ZTE Corporation (China), and a few more.
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However, the expansion of the market is estimated to be affected significantly due to the outbreak of COVID-19. The daily operations in various regions were put to a halt which immensely affected the manufacturing cycle of the product.
Market Segmentation
The global smart connected devices market can be divided on the basis of product, end-user, and country.
On the basis of product, the global smart connected devices market can be divided on the basis of media players, smartphones, tablets, smart band, smartwatch, smart glasses, wireless printers, smart clothing, smart meters, connected bulbs, smart cameras, smart locks, smart home appliances, and smart thermostats.
On the basis of end-user, the global smart connected devices market can be divided on the basis of commercial, residential, and industrial.
On the basis of the country, the global smart connected devices market can be divided on the basis of Asia Pacific, North America, Europe, and Rest of the World (RoW).
Regional Analysis
The global smart connected devices market is estimated to expand exponentially during the forecast period. The analysis has been performed for Asia Pacific, North America, Europe, and Rest of the World. Among all regions, North America is projected to acquire the largest market share during the forecast period. However, the APAC region is estimated to expand at the fastest pace during the forecast period. North America consists of various established organizations. The U.S. and Canada are anticipated to be the most active countries in expanding the regional market by making the most substantial contribution during the review period. Besides, the region has a well-developed infrastructure. A well-advanced infrastructure leads to a better penetration of devices and better connectivity. On the other hand, the APAC region is likely to experience a faster adoption of such devices relatively. Moreover, the idea of smart cities has been gaining popularity which is bringing a significant impact on the market expansion. Among all nations, emerging economies like China and India are estimated to play the most crucial role in market expansion. Besides, the region is witnessing a fast adoption of IoT, which is escalating the market demand.
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