Smart Connected Devices Market Research Report - Forecast to 2027

Smart Connected Devices Market 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 2027

ID: MRFR/SEM/4213-HCR | February 2021 | Region: Global | 100 pages

Smart Connected Devices Market Scenario


The smart connected devices market is not just growing; it is accelerating. Smart connected devices are embedded with sensors and possess connectivity features, which allow exchange of data. Major factors driving the growth of smart connected devices market include the growing demand for smartphones, tablets, and other smart devices and growing popularity of bringing your own device. Increasing demand for mobile smart connected devices is expected to drive the growth of the market.


Sony Corporation, Samsung Electronics Co. Ltd., Motorola Solutions Inc., Nokia Networks, LG Corporation, Hewlett-Packard, HTC Corporation, Apple Inc., and Dell Inc. are the few major investors in the global smart connected devices market. Increasing adoption of smart connected devices, such as smart locks, smart thermostats, smart doors, and other smart home appliances is majorly responsible for driving the growth of smart connected devices market. Technological advancements in the field of smart devices and growing popularity of Internet of Things is fuelling the market growth. This is owing to the increase in demand for smart and connected devices across various industry verticals .


The product segment comprises smartphones, media players, tablets, smart watch, smart band, smart glasses, smart clothing, wireless printers, smart meters, smart cameras, connected bulbs, smart locks, smart thermostats, and smart home appliances . However, smart locks sub-segment is expected to grow at the highest rate during the forecast period due to the increase in demand for improved and connected security by end-users.


The North America region holds the largest share of the global market, followed by Europe and Asia Pacific. The U.S. and Canada are dominating the North America market due to rising technological enhancements and growing adoption of smart connected devices. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing adoption of smart connected devices across different industry verticals is another major factor driving the growth of the smart connected devices market in the region.


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.


Segments


The smart connected devices market is segmented by product and end-user. Based on the product, the market is segmented into smartphones, media players, tablets, smart watch, smart band, smart glasses, smart clothing, wireless printers, smart meters, smart cameras, connected bulbs, smart locks, smart thermostats, and smart home appliances. Based on end-user, the market is segmented into industrial, commercial, and residential.


Regional Analysis


The global smart connected devices market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements and increased adoption of smart connected devices across various industry verticals.


Intended Audience



  • Technology Investors

  • Research/Consultancy Firms

  • Government Bodies

  • Consulting Service Providers

  • Technology Providers

  • System Integrators

  • Software Vendors

  • Web Content Developers

  • Service Providers

  • Cloud Platform Providers

  • Mobile Application Developers

  • Communication Service Providers (CSPs)



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   Substantial CAGR
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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)
  Key Market Opportunities   The growth of the market in North America is attributed to technological advancements and increased adoption of smart connected devices across various industry verticals.
  Key Market Drivers

  • Major factors driving the growth of smart connected devices market include the growing demand for smartphones, tablets, and other smart devices and growing popularity of bringing your own device. \r\n
  • Increasing demand for mobile smart connected devices is expected to drive the growth of the global smart connected devices market.


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    Frequently Asked Questions (FAQ) :


    Growing demand for smart devices, such as smartphones, tablets and BYOD trend are the major tailwinds pushing the growth of the global smart connected devices market.

    Smart locks by product is the largest segment in the global smart connected devices market.

    Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Motorola Solutions Inc. (U.S.), LG Corporation (South Korea), Nokia Networks (Finland), Hewlett- Packard (U.S.), Apple Inc. (U.S.), HTC Corporation (Taiwan), Dell Inc. (U.S.), Micromax Informatics (India), Gionee Communication Equipment Co. Ltd (China), Videocon Industries Ltd. (India), Lenovo Group Ltd. (Hong Kong), Acer Inc. (Taiwan), ZTE Corporation (China), and Blackberry Ltd. (Canada), are some of the top players operating in the global smart connected devices market.