Market Research Future published a research report on “Smart Connected Devices Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
— Market Scenario:
The smart connected devices market is not just growing; it is accelerating. Smart connected devices are embedded with sensors and possess connectivity features, which allow exchange of data. Major factors driving the growth of smart connected devices market include the growing demand for smartphones, tablets, and other smart devices and growing popularity of bringing your own device. Increasing demand for mobile smart connected devices is expected to drive the growth of the global smart connected devices market.
Sony Corporation, Samsung Electronics Co. Ltd., Motorola Solutions Inc., Nokia Networks, LG Corporation, Hewlett-Packard, HTC Corporation, Apple Inc., and Dell Inc. are the few major investors in the global Smart Connected Devices Market. Increasing adoption of smart connected devices, such as smart locks, smart thermostats, smart doors, and other smart home appliances is majorly responsible for driving the growth of smart connected devices market. Technological advancements in the field of smart devices and growing popularity of Internet of Things is fuelling the market growth. This is owing to the increase in demand for smart and connected devices across various industry verticals .
The product segment comprises smartphones, media players, tablets, smart watch, smart band, smart glasses, smart clothing, wireless printers, smart meters, smart cameras, connected bulbs, smart locks, smart thermostats, and smart home appliances . However, smart locks sub-segment is expected to grow at the highest rate during the forecast period due to the increase in demand for improved and connected security by end-users.
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The North America region holds the largest share of the global market, followed by Europe and Asia Pacific. The U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of smart connected devices. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of smart connected devices across different industry verticals is another major factor driving the growth of the smart connected devices market in the region.
Global Smart Connected Devices Market – Segmentation
The MRFR analysis is segmented into three key dynamics for the convenience of understanding;
• By Products: Smartphones, Smart Watch, Smart Glasses, Wireless Printers, Smart Meters, Media Players, Tablets, Smart Cameras, Connected Bulbs, and Smart Locks among others.
• By End User: Industrial, Commercial, and Residential
• By Regions: North America, Europe, APAC and Rest-of-the-World.
Some of the prominent players in the global smart connected devices market are Sony Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Motorola Solutions Inc. (U.S.), Nokia Networks (Finland), LG Corporation (South Korea), Hewlett-Packard (U.S.), HTC Corporation (Taiwan), Apple Inc. (U.S.), Dell Inc. (U.S.), Gionee Communication Equipment Co. Ltd (China), Micromax Informatics (India), Videocon Industries Ltd. (India), Acer Inc. (Taiwan), Lenovo Group Ltd. (Hong Kong), Blackberry Ltd. (Canada), and ZTE Corporation (China), among others.
Smart Connected Devices Market – Geographical Analysis
North America dominates the market of Smart Connected Devices with the largest market share. Technological advancement and increased adoption of smart connected devices across various industry verticals are some of the key driving forces for this market growth. The market is poised to continue with its dominance over the global market throughout the assessment period. The growth is predominantly driven by the augmented demand & availability of quality Smart Connected Devices in the region.
Europe region is another promising market for Smart Connected Devices and is expected to witness a fabulous market growth during the review period. The increasing adoption of smart connected devices by small and medium scale businesses and increasing number of data centers is stimulating the market growth in the region. Also, adoption BYOD policy among the growing IT industry is substantiating the market growth.
Whereas, Asia-Pacific market for Smart Connected Devices is witnessing a rapid expansion stage due to the growing markets in India, China & Japan. The wide adoption of these devices across the manufacturing sector is the main driving force behind the market growth in India and China, which is placing these countries at the leading positions of growth contributors for the market growth in the region. The APAC market of Smart Connected Devices has been valued hugely which is expected to grow further over previous growth records by the end of the forecasted period.
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• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Consulting Service Providers
• Technology Providers
• System Integrators
• Software Vendors
• Web Content Developers
• Service Providers
• Cloud Platform Providers
• Mobile Application Developers
• Communication Service Providers (CSPs)
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Release ID: 464904