Market Synopsis of Portable Electronics Market
Market Scenario
Apple, Inc. has acquired a patent for photo management in India in the portable electronics segment. The patent was filed in 2008 and was received in 2016 and was filed for a portable electronic device with a touch screen that displays an array of thumbnail images and the selected image being larger than the other thumbnails. Whereas Samsung Electronics has come up with latest portable SSD which has raised the stakes for other players in the market. The portable SSD comprises of 64-layer V-NAND technology which offers best in industry transfer speeds and that too with a compact design.
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North America region holds the largest market share of global portable electronics market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for digital technologies and growing technological advancements in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
Portable Electronics Market has been segmented on the basis of product and end user. The product segment is further bifurcated into mobile handsets, PDA, notebooks and laptops, media players, gaming consoles, digital cameras, navigation systems, power banks, flash drives, healthcare devices and others. Out of which, the notebook and laptops, media players and gaming consoles sub segments are expected to grow at the fastest rate during the forecast period. This is owing to the growing technological advancements and the increasing demand for digitization.
Major factor driving the growth of portable electronics market is the growing need for portability feature and growing technological advancements. Owing to the presence of microprocessors, the devices manufactured today are small and are also light in weight and portable in nature. Declining prices of electronics is another major factor driving the growth of portable electronics market.
The global portable electronics market is expected to grow at approx. USD 779.97 Billion by 2023, at 8.87% of CAGR between 2017 and 2023.
Key Players
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.
Portable Electronics Market Segmentation
The portable electronics market has been segmented on the basis of product and end user. The end user segment is further bifurcated into commercial, residential, industrial, medical and others. The medical segment has various applications owing to the growing adoption of wearable healthcare devices. These wearable healthcare devices have revolutionized the medical industry and has been adding to the growth revenue of portable electronics market. Owing to this, the medical segment in portable electronics is expected to grow at a high rate during the forecast period.
Regional Analysis:
The regional analysis of portable electronics market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that 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 major growth in portable electronics market in North America is attributed to technical advancements and increasing demand for digitization in that region.
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Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Consumers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
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