Global Connected Devices Market 2016-2020
Outlook of the global connected devices market
Technavio’s market research analyst predicts the global connected devices market to grow steadily at a CAGR of approximately 5% by 2020. A significant factor that fosters growth in the connected devices market is the high-energy efficiency of products like smart TVs, smart home appliances, smart thermostats, and connected bulbs. Due to the high efficiency of such devices, governments across the globe are encouraging their adoption. This increased adoption of smart devices will result in market growth during the forecast period.
The advent of the Open Wi-Fi Movement will spur growth in this market during the estimated period. OpenWireless.org is a cyber activist group that seeks to increase internet access by encouraging people and organizations to share their unused data by installing software that will transform their wireless router into a wireless access point. The adoption of this initiative is expected to reduce connectivity-related issues across the globe and will result in the increased adoption of connected devices during the predicted period.
Product-based segmentation of the connected devices market
- Computing devices
- Media players
- Smart band
- Smart glasses
- Smart clothing
- Wireless printers
- Smart meters
- Smart cameras
- Connected bulbs
- Smart locks
- Smart thermostats
- Smart home appliances
In this market study, analysts have estimated the smart locks segment to exhibit the highest market growth rate during the forecast period. Smart locks allow users to control access by using a phone, wireless key fob, or even remotely over the internet. They are also the key components in smart homes, which are growing in number across the globe. The ability of these devices to allow users to control access using their smartphones in an easy and cost-efficient manner will result in this market segment’s impressive growth rate of more than 91% until 2020.
Geographical segmentation of the connected devices market
Technavio’s market research analysts have estimated that the APAC region will account for the largest share of the market by 2020. The increasing construction of smart homes in regions like Japan, China, and South Korea will foster the need for connected devices, such as smart thermostats and smart home appliances, during the forecast period.
Competitive landscape and key vendors
The global connected devices market is highly fragmented due to the presence of numerous small and large vendors. The providers in this market compete on the basis of product price, quality, innovation, service, reputation, distribution, and promotion to gain maximum market shares during the estimated period.
Leading vendors in the market are -
Other prominent vendors in the market include Pace, Technicolor, Google, Sony, Nintendo, Canon, Epson, HP, Siemens, Pebble, Fitbit, Xiaomi, ODG, Recon Instruments, Vuzix, Whirlpool, Electrolux, Nest Labs, Schneider Electric, Philips, KISI, and August.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global connected devices market?
- What are the key market trends impacting the growth of the connected devices market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global connected devices market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the connected devices market?
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