IT Devices Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global IT devices market is anticipated to grow at a CAGR of 9.1% during the forecast period (2024-2031). The growing potential of Cloud-based applications and online services often requires higher processing power, storage capacity, and bandwidth than traditional software. This drives the need for more powerful devices like laptops, desktops, and tablets capable of handling these demands. Also, the shift towards remote work and online collaboration tools like video conferencing platforms necessitates devices with reliable internet connectivity, good webcams, and microphones. This fuels demand for laptops, tablets, and even smartphones with enhanced communication features. For instance, in December 2023, Grameenphone introduced a range of Internet of Things (IoT) devices, enabling users to remotely monitor and control their gas stoves, lights, and other related safety aspects of home, vehicle, and office. The product line and the app that enables the users to control and operate the device comes under the brand name of Alo and there will be eight types of devices. From December, customers can pre-book these devices from Grameenphone Experience Centers in Dhaka and Chattogram.

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Also, The increasing use of smartphones, wearables, and smart home devices is fueling market expansion. Connected devices offer increased convenience and automation, simplifying daily tasks and routines. Connected devices gather data and personalize user experiences. From music recommendations based on listening habits to smart lighting adjusting to preferences, these devices offer tailored experiences that enhance user satisfaction. Connected devices enable remote monitoring and control, providing greater peace of mind and flexibility. Smart home devices like security cameras and smart locks allow for remote monitoring, while connected appliances can be controlled remotely, offering convenience and security. For instance, in May 2023, Varanium Cloud and QMS MAS (Medical Allied Services), a front-runner in the field of health care and wellness, joined hands to launch Vyana, a revolutionary medical wearable. The device has been introduced as a part of QMS MAS's vast range of point-of-care products under the banner Q Devices, with which the company has made its maiden foray into the direct-to-consumer sector. Vyana aims to address a growing need to have a medical wearable that aids timely assistance, and it has been designed to constantly monitor vital parameters and send instant notifications as well as contact the user and their emergency contacts directly in case of significant fluctuations, thereby making it a must use for high-risk groups.

Market Coverage

• The market number available for - 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product type
o By Operating system
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes ABB Ltd., Apple Inc., Cisco Systems, Dell Technologies Inc., Eaton Corp, Honeywell International Inc., and Microsoft Corp., among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global IT Devices Market Report Segment

By Product Type

• Computers and Laptops
• Mobile Devices
• Other (Peripheral Devices and Networking Equipment)

By Operating Systems

• Windows
• MacOS
• iOS
• Android
• Others (Linux)

By End User

• Consumer
• Enterprise

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IT Devices Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• ABB Ltd.
• Cisco Systems
• Dell Technologies Inc.
• Eaton Corp
• Landis Gyr Inc.
• Lenovo Group Ltd.
• LG Electronics Co., Ltd.
• L&T Technology Services
• Microsoft Corp
• Open Systems International Inc.
• Rockwell Automation Inc.
• S & C Electric Company

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1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
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