Global Smart Connected Devices Market growing at a CAGR of 21.61% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Sep 2023 | Type : Press Release
Key Market Overview
The Global Smart Connected Devices Market was valued at USD 14,681.77 Million in 2022 and is expected to register a compound annual growth rate of 21.61% to reach USD 68,632.44 Million in 2030.
The report highlights the increasing adoption of smart connected devices in residential, commercial, and industrial sectors among others. Consegic Business Intelligence provides an inclusive research report on the smart connected devices market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Smart Connected Devices Market By Overview
The report analyses significant segments such as type, end-user, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow due to the increasing adoption of enterprise IoT devices in commercial sector including offices, educational institutions, retail outlets, and others. Moreover, the deployment of consumer-connected devices in residential and other sectors is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising utilization of smart connected devices in residential sector is driving the market growth.
- Growing commercial sector is spurring the market growth.
Restraints:
- Security risks associated with smart connected devices are restraining the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Consumer-Connected Devices, Enterprise IoT Devices, and Industrial IoT (IIoT) Devices |
| By End-User | Residential, Commercial, Industrial, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global smart connected devices market is highly competitive due to the presence of major players such as Rockwell Automation, Sony Electronics Inc., LG Electronics, SAMSUNG, Apple Inc., and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in smart connected devices market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Rockwell Automation
- Sony Electronics Inc.
- LG Electronics
- NXP Semiconductor
- Broadcom
- PTC
- SAMSUNG
- HTC Corporation
- Apple Inc.
- Lenovo
