The report of global portable electronics market by Product (Mobile Handsets, Personal Digital Assistant (PDA), Notebook/Laptop, Media Players, Gaming Consoles, Digital Camera, Navigation Systems, Power Banks, Flash Drives, Healthcare devices, Others), End User (Industrial, Commercial, Residential, Medical, Others), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 8.0% during a forecast period.
Portable electronics are light in weight, smaller sizes and portable in nature, owing to the presence of microprocessors. The global portable electronics market is driven by the growing need for portability feature, penetration of smartphones and increased disposable income or buying power. Technological advancement and declining prices of electronics devices are also projected to impelling market growth in the forecast period. However, digital convergence is restraining the market growth at the global level. The rising adoption of tablets has led to a decline in sales of traditional desktop PCs and laptops are the major challenge for the portable electronics market in the near future.
In 2019, the smartphone segment has dominate the Portable Electronics market and is estimated to grow at a CAGR of XX% during the forecast period. The smartphone market is dominated by three main operating platforms such as iOS, Android, and Windows. The availability of cost-effective and multi-functional devices are expected to fuel the market growth. The smartphone market is driven by government initiatives in developing countries and strong demand in the Asia-Pacific region due to the emergence of cost-effective Chinese manufacturers such as Huawei and Xiaomi. The introduction of new innovative and smarter tablets with extensive input abilities to create new growth opportunities in the market.
In 2019, North America held the XX% share of the Portable Electronics market and is expected to maintain its dominance during the forecast period thanks to the presence of major market players, technological advancements and increasing demand for digitization in that region. In terms of both value and volume, the Asia Pacific region will record a significant CAGR of XX% during the forecasted period due to the rising electronics industry and growing population. Developing countries like China and India are the leading contributor to regional market growth. Increasing investments by key players in research and development activities for the introduction of advanced portable electronics products are predicted to boost the market growth of this region in the near future.
Key players operating the global portable electronics market are Apple, Inc., Dell, Inc., Samsung Electronics Co., Ltd., Sony Corporation, Toshiba Corporation, HP, 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 Electronics, Panasonics, Seagate technology, and ZTE.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Portable Electronics Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Portable Electronics Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Portable Electronics Market positioning of competitors.
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