Smart Connected Devices Market Size is Reach USD 48 Billion By 2030 | APAC region is expected to grow at the highest rate during forecast period
Research Reports
Feb 09, 2023
Smart Connected Devices Market Insights
According to MRFR analysis, the global Smart Connected Devices Market is expected to register a CAGR of ~ 25% from 2022 to 2030 and hold a value of over ~USD 48 Billion by 2030.
The smart connected devices market is not only growing, but it is rapidly gaining popularity and advancing. These types of devices are embedded with sensors and can connect to the internet, which allows for the exchange of data. The target audience is increasingly demanding smart connected devices and sensor networks for energy efficiency, which is being backed by technological advancements. This is due to the ease and comfort that these solutions offer on a large scale. In turn, this provides promising returns for global market operations. The outbreak of the COVID-19 pandemic has resulted in different trends and new approaches in the global market. People are opting for healthier lifestyle choices and staying home more to prioritize their health. Technology has played a big role in helping people cope with the loss of time and resources due to the pandemic by making things easier and more convenient.
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Smart Connected Devices Market Key Players
Some of the key market players 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)
- ZTE Corporation (China).
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Report Scope:
|
Report Attribute/Metric |
Details |
|
Smart Connected Devices Market Size in 2030 |
USD 48 Billion |
|
Growth rate: |
CAGR of 25% from 2022 to 2030 |
|
Forecast Period |
2020-2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Regional Analysis
The smart connected assets and operations market is more prevalent in the APAC region and is expected to grow at the highest rate during the forecast period. The market growth is expanding rapidly and this trend can be attributed to the several initiatives taken up by the Government of India and many major players of smart connected assets and operations ecosystem, which help to improve the market share during the forecast period.
Smart Connected Devices Market Segmentation
The global Smart Connected Devices market has been segmented into modules and industries.
Based on the module, the market has been segmented into Hardware, APM software & platform, and Service. The APM software & platform segment is expected to grow in the Smart Connected Devices market due to the increasing demand for connected devices. The APM software & platform enables developers to create applications that can be used on various connected devices.
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Based on Industry, the market has been segmented into Automotive & Transportation, Energy & Power, Healthcare, Smart Agriculture, Factory Automation, and Others (Metal & Mining, Food & beverage, and Textile). The healthcare segment is expected to grow due to the increasing adoption of connected devices in the healthcare sector. Connected devices are used in various applications such as disease management, remote patient monitoring, and healthcare analytics. They help in reducing the cost of healthcare, improving the quality of care, and increasing the efficiency of the healthcare system. The demand for connected devices is expected to increase in the coming years due to the growing aging population and the increasing prevalence of chronic diseases.
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