Global Internet of Things Devices Market Size to Reach USD 1,374.93 Billion by 2021: Technavio
According to Technavio, the global Internet of Things devices market is expected to grow at a CAGR of close to 4% during the forecast period.
“Computing devices comprise the largest product segment of the Internet of Things devices market, accounting for over 81% of the overall revenue generation. Smartphones, tablets, PCs, and portable PCs are the key computing devices which have adopted the Internet of Things from this segment,” says Chetan Mohan, one of the lead analysts at Technavio for computing devices research.
Smartphones are by far the most popular choice for users of computing devices, due to their ease of use and availability of the devices at affordable prices. Tablets are the next most adopted devices, driven by the mobility, connectivity, and superior performance that they offer.
Smart media players
The smart media players product segment is the second largest product segment of the IoT devices market, expected to reach a value of USD 143.4 billion by 2021, at a CAGR of over 6% through the forecast period. Set-top-boxes, smart TVs, and gaming consoles are the major offerings of this segment. Smart TVs are the most widely adopted device, driven by an increased consumer spending on consumer electronics, and a preference towards technologically advanced devices that provide high-level flexibility.
“The wireless printers segment of the Internet of Things devices market is expected to reach 159.4 million units by 2021. The market segment is expected to grow because of the advances in printing technology and the increased demand for wireless laser and inkjet printers,” says Chetan.
Additionally, the demand for wireless multi-function printers (MFPs), color printers, and monochrome printers will continue to rise, leading to an increase in the shipment of wireless printers globally. Also, the swift adoption of the inkjet technology will further boost the wireless printer market.
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