Portable Electronics Market is Reach USD 810 Billion at a CAGR of 10% from 2023 to 2030 | Industry Size and Future Trends

According to market research future insights analysis, the global Portable-Electronics Market is expected to register a CAGR of 10% from 2023 to 2030 and hold a value of over USD 810 Billion by 2030.

The primary cause is the rapid expansion of portable electronic devices like smartphones, tablets, and other mobile phones. The market for portable electronics will develop due to its many advantages, including usability, mobility, accessibility, and connection with cloud-based services. The need for portable devices was further boosted by the requirement to equip medical services like helicopters and ambulances with essential equipment. It provides essential medical therapies for diabetes and cardiovascular disease by displaying real-time data. In addition, the aging population and consumer awareness of new goods will support the expansion of the portable electronics market. The primary cause is the rapid expansion of portable electronic devices like smartphones, tablets, and other mobile phones. Its numerous advantages include mobility, usability, ease of access, and interaction with cloud-based systems.

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Portable Electronics Market Key Players

Some of the key market players are

• Apple, Inc,
• Dell, Inc,
• Samsung Electronics Co., Ltd.
• Sony Corporation
• Nokia Corporation
• Motorola Solutions, Inc
• Eastman Kodak Company
• Palm, Inc
• Asus, BlackBerry
• Canon
• Google Inc
• Hewlett-Packard
• HTC Corporation
• Huawei Technologies
• Lenovo
• Micromax Mobile
• LG Electronic
• Panasonics, Seagate Product
• ZTE

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Portable Electronics Market Regional Analysis

North America dominated the market for portable electronics in 2020. The US and Canada are the two most powerful nations in the region. The major factor driving the enormous increase is the increasing need for digital technologies and other advancements. Additionally, the exponential increase will be accelerated by the increasing adoption rate of digital technology and portable electronic devices. Due to the high demand for digital technologies and established infrastructure enabling cutting-edge technologies, developed nations like the United States and Canada are notable countries contributing a sizable market share.

Asia Pacific is estimated to register significative growth in the market for portable electronics. Government policies that are encouraging growth, a high rate of treatment, the existence of highly advanced devices, the advancement of technology-enabled devices, rising disposable income, and the early diagnosis of diseases are all contributing to the region’s dominance of the regional charts for the global portable medical devices market. The healthcare industry has multiplied over the last several years, and additional government investment is anticipated to fuel sector expansion. The market for wireless portable medical devices is anticipated to benefit from this during the projected period in this region.

Portable Electronics Market Segmentation

The global portable-electronics market has been divided into product type, application, and end user.

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Based on product type, the portable electronics market has been segmented into mobile handsets, personal digital assistants (PDA), notebooks/laptops, media players, gaming consoles, digital cameras, navigation systems, power banks, flash drives,  healthcare devices and Others. The media player segment accounted for the highest share of the portable electronics market in 2021. The inclination to music listening while working, exercising, or traveling has contributed to the market’s expansion. Over the forecast period, the video segment is anticipated to rise due to the rising use of video streaming services for watching television shows, motion pictures, or music videos on websites like Amazon Prime and Netflix. On

Based on application, the portable electronics market has been segmented into industrial, commercial, residential, medical and others. Medical applications accounted for the largest revenue share in 2021 in the portable-electronics market. Global geriatric population growth and the rising prevalence of various chronic diseases are the two main factors driving the global market for medical electronics. Chronic illnesses like diabetes, cancer, cardiovascular conditions, and COPD are the main causes of the rising use of medical electronics.

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