Global Smart Connected Device Market
Global Smart Connected Device Market holds potential to reach US$XX Bn by 2027, driven by multiple factors, including demand and supply side drivers.
• Demand Side Drivers:
o Indian Smart Connected Device Market is expected to reach US$ 13.56 Bn by 2027, while the country is dominating the smart connected device market with XX% as of 2020. o The advent of 5G leading to rise in the demand for smart connected devices around the world o Ensuring safety and security, convenience, low utility costs, and time saving would be the major factors to upsurge the smart connected device market
• Supply Side Drivers:
o The market is driven by large players meeting xx% of the demand, which include Apple, Samsung, Xiaomi, LG o Smart devices powered with the integration of voice assistants is benefitting people with disabilities and elder ones to improve humanity’s quality of life. o In 2020, Reliance Jio has announced to launch 5G services in H2 2021 that will create better opportunities for both residential and commercial purposes o As per our survey, Apple vendors, Samsung and others line up with INR 11 lakh crore for the production over the next five years o Panasonic launches IoT and AI-enabled platform Miraie through which it will introduce a range of connected air conditioners, smart door bells and switches
Drivers: Rising Demand of Mobile Handheld and Bring Your Own Device (BYOD) across Enterprises
The growing global demand for mobile phones, tablet computers, and bring-your-own-device policies are the main drivers for the global market for smart connected devices, along with the increasing proliferation of high-speed network connections. In future, technical developments in wireless communication technologies, such as general packet radio service (GPRS), Wi-Fi, and global microwave access interoperability (WiMax), are also expected to fuel demand for smart connected devices.
Restraints: Concerns pertaining to data privacy and security
Rising threats posed by cyber criminals increasingly targeting Internet of Things devices. Malicious hackers can launch attacks and infiltrate thousands or millions of unsecured devices, crippling infrastructure, downing networks, or gaining access to private information. This will pose a restraining factor of the Smart Connected Device Market.
Opportunities: Adoption of IoT based technologies in Smart Connected Device
The increasing realization of the need to produce real-time insights that can be acted upon in real time through data from IoT sensors would create a tremendous opportunity for companies to maintain themselves in the world of digital transformation. Organizations across residential, manufacturing, and business sectors are increasingly assessing and implementing initiatives to recognize immediate value from the IoT to concentrate on cost reduction, maintenance, and tracking to compile real-time resources for timely decision-making.
Covid-19 Impact on the Smart Connected Device market:
The pandemic has given these future-forward devices the ultimate time to shine. In order to rise, the startup Estimote has developed wearable devices that vibrate when workers get too close to one another. NBA which offers smart rings which is to detect coronavirus for effective early warning systems for the tracking of the virus. Due to the government guidelines for people to stay home, the need for using smart connected device has been booming. To capitalize on consumer growth for smart home technology providers, it will be critical to build appropriate and easy-to-use, easy-to-adopt technology. For consumers, ease of installation, connectivity with other IoT devices and protection will remain key priorities. COVID-19 pandemic has wreaked havoc on global smartphone market with shipments falling 13 per cent to 272 million units in March 2020 quarter.
Global Smart Connected Device Market Segment Analysis
Smartphones segment holds the highest market share of the Smart Connected Device Market The smartphones segment has accounted the largest market share in 2019. The cheapest smart connected device is smartphones which can be easily affordable in the market. The advent of 5G increases the usage of smartphones among the consumers. It will allow IoT devices to communicate and share data faster than ever. With the ability of a 5G network to handle more connected devices, consumers will benefit from greater reliability of their connected devices. Industrial segment holds the highest market share of the Smart Connected Device Market To know about the Research Methodology :- Request Free Sample Report The industrial segment is expected to contribute XX% share in the global market. The rising need for the industrial applications such as smart robotics, Industrial Internet of Things (IIoT), smart manufacturing, connected vehicles, etc., across the market. Electric vehicle charging and transmission & distribution will be of only minor importance in terms of the number of connected devices. However, since buildings comprise many independently connected devices, the smart building sector incorporates a relatively high number of smart connected devices.
Global Smart Connected Device Market Regional Insights:
Asia Pacific is expected to account for the largest market during the forecast period both in terms of value and volume. Asia Pacific region is expected to hold the dominant position in the global smart connected device market. The dominance is attributed to the presence of the well-established prominent key players in the region. The key players are offering advance technologies and growing adoption of smart connected devices. The increasing investments in developments of various smart infrastructures, smart cities, and IIoT projects in APAC may drive the growth of the market. Strong manufacturing base in the following countries China, India, Taiwan and South Korea are the leading contributors to the regional market growth. China accounted for the largest market share xx% in 2019 owing to its manufacturing hub, low labor cost and favorable government policies.
The objective of the report is to provide the following:
• To provide market size, forecast data for global, regional and market segments • To provide strategic developments, benchmarking and market share analysis of 10 players operating in the global smart connected device market • Detailed insights on drivers, restraints, opportunities, and challenges in the ABC industry • Impact of technological advancements in the ABC market and its future outlook • High level insights on the regional and country level analysis along with regional attractiveness • Market intelligence on the growth trends and opportunity analysis in the ABC market at the segmental and overall market levels • In-depth coverage of SWOT, PORTER, PEST and VALUE & SUPPLY CHAIN
Scope of Global Smart Connected Device Market: Inquire before buying
Global Smart Connected Device Market, By Product
• Smartphones • Smart Watch • Smart Glasses • Wireless Printers • Smart Meters • Smart Cameras • Smart Bulbs • Others
Global Smart Connected Device Market, By Application
• Industrial • Commercial • Residential
Global Smart Connected Device Market, By Region
• North America • Europe • Asia Pacific • Middle East & Africa • Latin America
Key players operating in Global Airport Biometrics Market
• Samsung Electronics Co. Ltd • Sony Corporation • Motorola Solutions Inc • LG Corporation • Xiaomi • Nokia • HP Development Company, L.P. • Apple Inc. • HTC Corporation • Dell Inc • Micromax • Gionee • Videocon Industries Ltd • Lenovo Group Ltd • Acer Inc. • ZTE Corporation • Blackberry Ltd • Others
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