The global smart connected devices market is projected to witness a rapid growth during the forecast period owing to increasing demand for smart connected devices from individuals. Moreover, increasing demand for smart connected devices across various industry verticals and rise in demand for internet of things applications are other major factors driving the growth of the global smart connected devices market. The growing emphasis on remote monitoring systems in favor of work from home initiatives, the growing acceptance of smart payment technologies, as well as the business requirement to establish digital infrastructure enabling large-scale deployments are all important growth factors for the industry.
Key Players
The established players of the global Global Smart Connected
Devices Market 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 Size 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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