Market Research Future published a research report on “Rugged Handheld Electronic Devices Market Research Report - Global Forecast till 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2024.
— Market Insight
The global rugged handheld electronic device market is cementing its foothold further with the traction generated by information and communication sector and is anticipating to witness an exponential growth rate of 9.71% during the forecast period (2019–2024), declares Market Research Future (MRFR). It is the rising demand for IoT devices which is motivating the market to grow substantially over the years and would go ahead similarly in the future by acquiring more valuation than previous years.
Market Drivers & Trends
At present, the growth of industry 4.0 is highly dependent upon rugged handheld devices having features such as damage-resistant screens, industrial-strength frames, and shock- and vibration-resistant solid-state drives (SSDs). These features can be used in production units, production floors, construction sites and also for public safety. Therefore, having such immense advantages, these are taking the Rugged Handheld Electronic Devices Market at a top-notch position in the present time.
Apart from these, the government standards are also boosting the market growth as various military operations are getting involved in communication channels, which are owned by the government. Government approval and contracts are often required to manufacture devices which use these communication channels. Devices need to meet specific standards of ruggedness to be certified as rugged devices. These initiatives and continuous advancement in these devices and technology are driving the market continues to grow at a rapid pace and is also anticipated to expand more in the assessment period.
Furthermore, the rugged handheld electronic devices are also profoundly used in various industries such as automotive, retail, agriculture, construction, oil & gas, military and defence, and aerospace owing to their abilities to withstand the harsh environment and to communicate the information without any interruption in real-time. Various types of rugged handheld electronic devices are also available such as scanners, tablets, smartphones, and mobile computers, which are used for multiple end-use applications across industries. These factors are highly provoking the market to grow exponentially in the coming years.
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Some of the Prominent Players in the global rugged handheld electronic devices market are Handheld Group(Sweden), Panasonic Corporation(Japan), Datalogic SpA(Italy), Zebra Technologies(US), Honeywell International, Inc. (US), Advantech Co., Ltd(Taiwan), Getac Technology Corp.(Taiwan), Juniper Systems Inc.(US), TouchStar PLC(UK), CIPHERLAB Co., Ltd(Taiwan) among others.
The global rugged handheld electronic devices market has been segmented based on product type, and end-user.
By the mode of product type, the market has been categorized as smartphones and tablets, mobile computers, reader/scanner, and others. The smartphones and tablets segment thus accounts for the largest market share with 50.5% in 2018, with a market value of USD 3.84 billion and now is expected to register the highest CAGR of 9.27% in the forecast period. Rugged smartphones vary from standard smartphones in terms of ability to withstand various environmental conditions and offer protection against high temperature, water, dust, and vibration.
By the mode of end-user, the rugged handheld electronic devices market have been segmented into manufacturing, transportation & logistics, military & defence, retail, and government and others. The manufacturing industries will account for the largest market share of 27.2%, thus growing at 7.18% CAGR in the forecast period.
The global rugged handheld electronic devices market, regionally, has been studied under the key regions of Asia-Pacific, North America, Europe, and the Middle East & Africa, and South America.
In 2018, North America led the rugged handheld electronics market with the highest market share is now predictable to expand at a CAGR of 7.9% in the forecast period. The region is the early adopter of the technology and thus has notably contributed to market growth. Also, the incidence of various key players such as Honeywell International Inc., Zebra Technologies Corporation and Juniper Systems, Inc. drives the market in the region. In 2018, in US manufacturing industries, retail and military and defence industries had almost 66% of the market share of the rugged handheld electronic devices.
The Asia-Pacific region is likely to be the fastest increasing market during the forecast period 2019-2024 with the presence of various key and local players in the region, also contributing to the market growth. Moreover, developed and developing countries in the region are also motivating the growth for rugged handheld electronic devices market with the rising demand of rugged handheld smartphones, mobile computers and scanners by manufacturing industries, government, and retail industries. China is probably to control the market in the Asia-Pacific region.
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Key questions addressed by the report
• What was the historic market size (2018)?
• Which segmentation (Product Type / End User is driving market?
• What will be the growth rate by 2024?
• What are the strategies adopted by key players?
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Source URL: https://marketersmedia.com/rugged-handheld-electronic-devices-market-2019-global-overview-opportunities-key-country-analysis-business-growth-upcoming-trends-and-potential-of-industry-2024/88921028
Release ID: 88921028