Smart Connected Devices Market 2020-2023: Historical Analysis, Opportunities and Strong Growth in Future

Smart Connected Devices Market 2020-2023: Historical Analysis, Opportunities and Strong Growth in Future

Global Smart Connected Devices Market Research Report: By Product (Smartphones, Smart Watch, Smart Glasses, Wireless Printers, Smart Meters, Smart Cameras, Connected Bulbs, Smart Locks), End User (Industrial, Commercial, Residential) – Forecast Till 2023

Market Overview

The global smart connected devices market is anticipated to demonstrate a healthy CAGR during the forecast period (2017-2023), Market Research Future (MRFR) unveils in the latest report. Smart connected devices possess connectivity features and are embedded with sensors, which enables the exchange of data.

The global Smart Connected Devices Market has witnessed a tectonic surge over the past few years, mainly due to the surging demand for smart connected devices from individuals. As demand for IoT applications is skyrocketing, the smart connected devices market is witnessing a positive growth. Mounting demand for tablets, smartphones, and other smart devices, coupled with the surging popularity of BYOD, are pushing the market growth uphill. The proliferation of high-speed network connection is considered one of the major drivers directing the course of the market across the globe. Moreover, technological advancements in the field of wireless connectivity like Wi-Fi, GPRS, and WiMax are predicted to propel the market growth in the foreseeable future.

Key Players

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.

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Global Smart Connected Devices Market – Segmentation

The global smart connected devices market is segmented on the basis of product and end user.

·        By product, the smart connected devices market is segmented into media players, smartphones, smartwatch, tablets, smart glasses, smart band, wireless printers, smart clothing, smart cameras, smart meters, smart locks, connected bulbs, smart home appliances, and smart thermostats. Of these, the smart locks segment is predicted to expand at the highest rate, owing to the surging demand for connected and improved security by the end-users.

·        By end users, the smart connected devices market is segmented into commercial, industrial, and residential. Of these, the residential segment is likely to expand at the highest rate due to the surging demand for connected and smart devices in smart homes. Moreover, the rising popularity of bring your own devices is likely to propel the market growth in the residential segment.

Smart Connected Devices Market – Geographical Analysis

Geographically, the smart connected devices market spans across North America, Asia Pacific, Europe, and Rest of the World (RoW).

Considering the global scenario, North America is anticipated to acquire the largest share in the global market. The presence of industry bigshots like Hewlett-Packard, Motorola Solutions Inc., Dell Inc., and Apple Inc. in Canada and the U.S. is predicted to encourage the market growth in the region. The market is likely to show immense growth in the coming years due to the existence of well-established and sustainable economies. The region also has a presence of well-established infrastructure, which allows for higher penetration of devices and better connectivity. Moreover, business organizations are highly focusing on the dependency of enterprises on smart connected devices, better management of business processes, and bring your own device. This is estimated to encourage the market growth in the coming years.

The Asia Pacific region is likely to witness a faster adoption compared to other regions, mainly due to the surging demand for smart devices across industry vehicles. The rising number of smart city initiatives along with developments related to IoT solutions are further influencing the market growth. IoT solutions are extensively being adopted in countries like China and India for applications like smart parking, smart lighting, smart traffic management, and smart waste management. The growing adoption of IoT is likely to influence the market growth in the region.

Industry Updates

July 2019: Alexa is gradually becoming more proficient at controlling garage smart locks, door openers, lightbulbs, and other smart devices. After a few months, Amazon launched an API, which lets Alexa communicate with door and motion sensors, the Seattle company introduced certain developer tools which can connect doorbells and smart cameras to Echo devices. Amazon recently demonstrated Alexa Conversations for seamless interaction, with easy-to-remember commands.

TABLE OF CONTENTS

LIST OF FIGURES

FIGURE 1 Global Smart Connected Devices Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Smart Connected Devices Market

FIGURE 4 Value Chain Of Global Smart Connected Devices Market

FIGURE 5 Share Of Global Smart Connected Devices Market In 2017, By Country (In %)

FIGURE 6 Global Smart Connected Devices Market, 2017-2023,

FIGURE 7 Sub Segments Of Product

FIGURE 8 Global Smart Connected Devices Market Size By Product, 2017

FIGURE 9 Share Of Global Smart Connected Devices Market By Product, 2017 TO 2023

FIGURE 10 Global Smart Connected Devices Market Size By End User, 2017

FIGURE 11 Share Of Global Smart Connected Devices Market By End User, 2017 TO 2023

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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