Portable Electronics Market is predicted to grow at a CAGR of 9% Forecast 2030
Research Reports
May 25, 2022
Market Overview
The Portable Electronics Market is expected to grow at a CAGR of 8.87% and reach USD 779 Billion during the forecast period. The key cause is the rapid proliferation of portable electronic devices such as smartphones and tablets. Portable Electronics Market will also profit from features such as user-friendliness, portability, simple access, and integration with cloud-based systems. The need for portable devices was further boosted by the requirement to equip medical services such as helicopters and ambulances with appropriate medical equipment. It displays real-time data to give appropriate cardiovascular and diabetic medical treatments. Aside from that, the aging population and increased knowledge of new goods will propel the Portable Electronics Market forward.
The increased demand for portable gadgets and services is propelling the Portable Electronics Market forward. Small and portable devices can also be easily created thanks to technological breakthroughs like microprocessors. The gadgets’ accurate and real-time data will help improve patient treatment, which will encourage growth. The need for portable electronics will rise in tandem with the expanding population of the older generation. Additionally, rising consumer and health-care facility awareness will create new business prospects. Apart from that, the expansion of portable medical devices would be aided by the rise in sedentary lifestyles.
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Market Segmentation
Based on the product, the Portable Electronics Market is segmented into Gaming Consoles, Navigation Systems, Personal Digital Assistant (PDA), Digital Camera, Power Banks, Media Players, Healthcare Devices, Laptop/Notebook, Flash Drives, Mobile Handsets, and others.
Based on the end-user, the Portable Electronics Market is segmented into Residential, Industrial, Medical, Commercial, and others.
Based on the application, the Portable Electronics Market is segmented into Military, Industrial, and Personal.
Based on the region, the Portable Electronics Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
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Regional Classification
In the portable electronics business, North America will have the biggest market share. Countries like Canada and the United States dominate the region. The massive growth is primarily due to the rising demand for digital technologies and other improvements. Furthermore, the increasing acceptance of digital technologies and portable electronic devices would dramatically accelerate growth. Aside from that, in the future years, the Asia-Pacific area will have the highest CAGR. It includes nations like Japan, India, China, and others. The market would be boosted by the rising acceptance rate of various wearable medical devices and the growing elderly population.
Because of the growing number of small and medium businesses, the Asia-Pacific market is expected to grow at the quickest rate. The region’s ultra-portable mobile device industry is predicted to grow as internet penetration increases in some developing countries. Furthermore, the growing number of individuals streaming OTT (Over-the-top) content around the world is boosting the worldwide ultra-portable internet device market growth in the coming years.
Industry News
The major key players in the market are Apple, Inc. (the U.S.), Dell, Inc. (the U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Toshiba Corporation (Japan), HP (U.S.), Nokia Corporation (Finland), Motorola Solutions, Inc. (the U.S.), Eastman Kodak Company (the U.S.), and Palm, Inc. (the U.S.).
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