IT Devices Market Size To Reach $3,114.87 Billion By 2030

IT Devices Market Growth & Trends

The global IT devices market size is projected to reach USD 3,114.87 billion by 2030, registering a CAGR of 9.5% from 2024 to 2030, according to a new study by Grand View Research Inc. As consumer spending on connected devices has increased globally over the past few years, there has been an increase in demand for IT devices such as laptops and mobile phones. Growth is also being driven by its capacity to meet needs specific to the industry. Various industries, such as manufacturing, logistics, healthcare, and agriculture, have created specialized platform solutions to address their business problems. The quick advancement of smartphone technology, from 4G to 5G, has made it possible for IT devices adoption to increase.

The market demand for mobile accessories has risen significantly to the sharp increase in smartphones across developing countries such as India, China, and Japan. There are now more wireless mobile accessories available both offline and online. Bluetooth headphones, earphones, chargers, and other gadgets are also in high demand across the end users. The COVID-19 pandemic also increased the demand of the market.Smartwatches are now considered as essential accessory. Customers are searching for a watch that can help them maintain a healthy work-life balance and provide them with ongoing reminders as they have become more health conscious. Therefore, the demand for IT devices is rising significantly.

For business operators, managing global teams and a remote workforce continue to be crucial responsibilities. Thus, to create a cohesive, user-centered experience, the new IT device providers combine processing power, advanced security, and immersive 3D-based devices. For instance, in September 2023, Lenovo Group Limited, a manufacturer of consumer electronics products, added new features to the Lenovo Device Manager, including an all-inclusive AI-powered energy management system that effectively manages fleets of devices and maximizes power consumption. Introduction of these IT devices are essential component of a single ecosystem that makes use of powerful processing, engaging graphics, and flexible software. When combined, they expand the potential of technology to improve teamwork and productivity. Thus, there is a rise in IT devices across the end users.

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IT Devices Market Report Highlights

• The peripheral devices segment is expected to exhibit a CAGR of more than 11.0% over the forecast period. Players are investing huge resources in peripheral devices to satisfy the evolving demands of consumers. Significant investments provide several advantages and support technological advancement, both of which are anticipated to have a positive effect on the market during the forecast period

• The iOS segment is expected to register a CAGR of 11.0% over the forecast period. iOS operating system is considered the most safe operating system. The platform's built-in security allows for the addition of sophisticated and safe infrastructure for in-app purchases, including the use of personal documents and online, debit, and credit card information. Thus, there is growing demand in the segment

• The online distribution segment in the market is expected to grow at the highest CAGR of more than 10.0%. IT devices manufacturers can easily integrate Enterprise resource planning (ERP) systems with online distribution channels and allowing IT device manufacturers to instantly access a large database that is updated on a daily basis. In addition, market players can easily optimize product distribution processes and improve their production and logistics planning by receiving online notifications from all partners in their network. Thus, driving the market demand for the sector

• The consumer segment is anticipated to register a CAGR of more than 10.0% through 2030. Smart devices with multiple functions are fundamentally changing consumer preferences away from general-purpose electronic products to smart devices that automate daily tasks. Moreover, top consumer appliance manufacturers are putting high effort into creating advanced multipurpose appliances. This is what is expected to drive sales in the global consumer market

• North America is expected to register a CAGR of more than 11.0% from 2024 to 2030. A sizeable portion of the production of IT products, including laptops, desktop computers, and mobile phones, is produced in North America region. Furthermore, the U.S. is considered a technologically advanced country, and has a substantial share of the global market for manufacturing and exporting IT devices. Therefore, driving the market growth in the region

• Market players are adopting various business strategies to attract potential clients and achieve higher profitability from this potential market. For instance, in October 2023, Qualcomm Incorporated, a wireless technology provider, partnered with partnering with Google LLC, a provider of search and advertising services, to develop wearable devices such as smartwatches using chips based on RISC-V technology.RISC-V is used in a wide range of products, from artificial intelligence processors to smartphones. Using custom processors with low power and high performance would help more IT devices in the Android ecosystem. Consequently, rising the demand in the market

IT Devices Market Segmentation

Grand View Research has segmented the global IT devices market based on product type, operating systems, distribution channel, application, and region:

IT Devices Product Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Computers and Laptops

• Mobile Devices

• Peripheral Devices

IT Devices Operating Systems Outlook (Revenue, USD Billion, 2018 - 2030)

• Windows

• macOS

• Linux

• iOS

• Android

• Others

IT Devices Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Online

• Offline

• Networking Equipment

IT Devices Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Consumer

• Enterprise

IT Devices Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • India

  • China

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the IT Devices Market

• ABB Ltd.

• Apple Inc.

• Cisco Systems

• Dell Technologies Inc.

• Eaton Corporation

• Honeywell International Inc.

• Landis Gyr Inc.,

• Lenovo Group Limited

• Microsoft Corporation

• Open Systems International Inc.,

• Rockwell Automation Inc.,

• S & C Electric Company,

• Samsung Electronics Co Ltd

• Schneider Electric S.E.

• Siemens AG