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Smart Connected Devices Market Share: Overview, Sales Revenue, Size, Trends and Forecast 2023

Smart Connected Devices Market Share 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 Smart Connected Devices is a pet topic for the future of the world. Equipped with advanced sensors and technologies smart connected devices, represent a step change in form and function. Witnessing substantial R&D investments, connectivity solutions are proceeding rapidly finding their way to the prominence, more so than in the volume segment.

Market Research Future (MRFR), in its recently published study report asserts that the global Smart Connected Devices Market Share is forecasted to perceive enormous growth by 2023 in terms of value and volume, With a striking rate of CAGR; surpassing its previous growth records throughout the forecasted period (2017 – 2023).

There will be enough innovation and new levels of connectivity among devices, enabling new services inside and outside the home. These changes to motor vehicles will, of course, also transform the auto industry. As these devices mature technologically, it will influence market trends and automakers’ relationships. Features like safety sensors and smartphone integration are already becoming common.

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The augmenting demand for tablets, smartphones, and other smart devices and growing popularity of BYOD (bring your own device) in the offices along with the augmenting demand for mobile smart connected devices are fuelling the market growth.

The market proliferation of smart connected devices, such as smart thermostats, smart doors, smart locks, and other smart home appliances is providing impetus to the growth of Smart Connected Devices Market Share. Furthermore, technological advancements in the field of smart devices and the growing penetration of Internet of Things (IoT) are fostering the market growth.

On the other hand, cybersecurity concerns are expected to restrict the market growth during the forecast period.

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.

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.

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1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat Of New Entrants

4.1.2 Bargaining Power Of Buyers

4.1.3 Threat Of Substitutes

4.1.4 Segment Rivalry

4.2 Value Chain/Supply Chain Of Global Smart Connected Devices Market

5 Industry Overview Of Global Smart Connected Devices Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges


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About Us:

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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