The global market for portable electronics can touch approx. valuation of USD 779.97 Billion by 2023, says Market Research Future (MRFR). MRFR also reveals that the market can potentially attain a growth rate of 8.87% from 2017 to 2023, which is the forecast period.
Top Drivers and Key Barriers
The global portable electronics market has gained massive traction across the globe on account of the expanding electronics industry. Portable electronics are lightweight, easy to carry and tiny devices that are faster, durable, and immune to external effects such as solar as well as electromagnetic fields. These appealing properties have led to its huge popularity and high sales in the market. The boosted demand and sale of the product is expected to induce the growth of the global Portable Electronics Market in the near future.
The electronics industry, in line with the rising popularity of portable electronic devices, is moving towards ever-portable items. These are transportable operation devices that have the ability to function in almost every type of environment. Portable electronics have also penetrated the field of satellite, spacecraft, and military, used in the form of unmanned vehicles, portable soldier electronics, robotics, among others. Apart from this, remote surgical systems and surveillance systems are other types of portable electronics that are fast gaining strong foothold in the global market.
The worldwide market for portable electronics can note strong growth in the coming years, backed by the soaring demand for compact as well as lightweight electronic products along with the surging competition between commercialized technologies like LED, OLED and LCD. Accelerated demand for technically advanced wearable devices and the rising use of smart devices like smart glasses, smartphones, e-book or newspapers and smart watches are stimulating the growth of the portable electronics market all over the world.
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The prominent players in portable electronics market are – Apple, Inc. (U.S.), Dell, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Toshiba Corporation (Japan), HP (U.S.), Nokia Corporation (Finland), Motorola Solutions, Inc. (U.S.), Eastman Kodak Company ((U.S.), Palm, Inc. (U.S.) among others.
Global Portable Electronics Market – Segmentation
The worldwide market for portable electronics has been segmented with respect to product type and end-users.
Depending on the product segment, the market consists of Personal Digital Assistant (PDA), Mobile Handsets, Media Players, Notebooks & Laptops, Digital Camera, Gaming Consoles, Flash Drives, Power Banks, Navigation Systems and Healthcare Devices among others.
Given the end-user segment, the market includes Healthcare, Personal, Corporate and Industrial, among others.
Global Portable Electronics Market – Regional Analysis
North America, Europe, APAC and Rest-of-the-World (RoW) have been identified as the primary markets for portable electronics.
North America controls the major share in the global portable electronics market, on account of the high concentration of prominent electronics manufacturers. The regional market also benefits from the rising demand for digital technologies as well as the increasing technological advancements, especially in the United States (U.S.) and Canada. These countries are the top-performing markets for portable electronics in the region. The region is known for having a highly established infrastructure that facilitates better penetration of devices, ultimately offering enhanced connectivity.
Europe is the second-most lucrative market for portable electronics in the world. The market can achieve strong growth rate from 2017 to 2023, perceiving a massive uptake of portable electronics all across the region. Mounting demand for innovations combined with the rising adoption of latest technologies can also induce growth of the portable electronics market in the region.
APAC is emerging as one of the most profitable markets for portable electronics, on account of the burgeoning electronics markets, especially in China and India. The rising number of smartphone users as well as the surge in the number of smartphone applications has led to the strong market demand in the region. Portable electronic devices such as laptops, gaming consoles and media players have gained immense popularity in the region, which can boost the market growth in the following years.
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- Technology Investors
- Research/Consultancy Firms
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
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