Ultra-Mobile Devices Market Expected to Reach USD 113.83 Billion by 2030 at CAGR of 9.6%, Say’s Allied Market Research.
Ultra-mobile devices include Ultra Mobile Phones, Computing Devices and tablet PCs such as Apple’s MacBook Air, Lenovo Yoga 3 Pro, Microsoft’s Surface Pro.
WILMINGTON, DE, UNITED STATES, January 12, 2024 /EINPresswire.com/ — Ultra-mobile device (UMD) is a midsize and lightweight computing devices that supports various applications ranging from education to business. UMDs support higher productivity, improved battery life, full-scale functionality, extended portability, and reduced bulk. These features make them highly compatible with business professionals and propel their adoption in consumer electronics sector.
The global ultra mobile devices market was valued at $45.83 billion in 2020, and is projected to reach $113.83 billion by 2030, growing at a CAGR of 9.6% from 2021 to 2030.
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On the basis of type, the premium UMD segment dominated the overall ultra-mobile device industry in 2020 and is expected to continue this trend throughout the forecast period. This is attributed to rise in standards of living, technology awareness among people, and increase in disposable income in the country.
KEY FINDINGS OF THE STUDY:
➢ Depending on type, the premium ultra-mobile segment dominated the ultra-mobile device market in 2020. However, the utility ultra-mobile segment is expected to exhibit significant growth during the Ultra Mobile Devices Market Forecast period.
➢ By industry vertical, the consumer electronic sector segment accounted for the highest revenue of market in 2020. However, the IT & telecommunication sector segment is expected to witness the highest growth rate during the forecast period.
➢ Region wise, the Ultra Mobile Devices Market Size was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.
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By Industry vertical, the consumer electronics sector segment held the largest Ultra Mobile Devices Market Share in 2020 and is expected to continue this trend during the forecast period. The electronics and semiconductors sector segment is highly dependent on ultra-mobile device systems, owing to increase in population and evolution of ultra-mobile device market. In addition, surge in use of consumer electronics devices, such as mobile devices, laptops, tablets, personal computers, satellites, television, and radar along with falling prices of these devices, facilitated the growth of ultra-mobile devices in the consumer electronic sector.
However, the IT & telecom segment is expected to witness the highest growth in the upcoming years. This is due to the rapid increase in adoption of advanced ultra-mobile device systems. IT & telecom organization deploy ultra-mobile device systems in their operations for different functionalities such as monitoring systems and security. In addition, major IT & Telecom players are inclined toward investing in technology advancement to develop telecom systems that are more network-savvy, safer, and energy-efficient, which is expected to provide lucrative growth opportunities for the IT & telecom sector.
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The global business landscape underwent a significant impact from the COVID-19 pandemic, compelling a large portion of the public to stay at home due to lockdown measures imposed by various governments worldwide. Many individuals, organizations, and educational institutions adopted a work-from-home policy. The surge in online classes during the ongoing pandemic has led to an increased demand for mobile phones globally. As the trend of online teaching persists, there has been a substantial growth in the demand for smartphones in emerging countries, resulting in an uptick in the manufacturing of mobile devices amid the COVID-19 pandemic.
This trend is also evident in the corporate sector, where various industry verticals are strategically focusing on advanced technologies like augmented reality, virtual reality, and the Internet of Things (IoT) to conduct operations. For example, in July 2021, in emerging nations such as India, the average selling price (ASP) for smartphones reached its highest ever at $226 in July-August, marking a 19% increase from the same period the previous year. The introduction of high-speed network technologies, such as 5G, occurred during the COVID-19 pandemic, contributing to the heightened demand for ultra-mobile devices in the market. The industrial sector is expected to witness an increase in demand for ultra-mobile device systems, propelling the growth of the Ultra Mobile Devices Industry.
Moreover, the Asia-Pacific and LAMEA regions anticipate potential growth in premium Ultra Mobile Phones during the forecast period, driven by regional developments, government initiatives, increased awareness of technology, and cost-effective consumer electronics, all of which present lucrative growth opportunities. However, the utility-mobile device segment is projected to experience significant growth in the coming years, attributed to the expanding market for ultra-mobile devices, the growth of cognitive intelligence applications, predictive and analytical software, increased use of mobile phones and applications, and a growing concern for system optimization.
Key Market Players:
➢ Dell Inc.
➢ ASUSTeK Computer Inc.
➢ Sony Corporation
➢ Google Inc.
➢ Apple Inc.
➢ Microsoft Corporation
➢ HTC Corporation
➢ HP Development Company
➢ L.P.
➢ Samsung Electronics Co., Ltd.
➢ Lenovo
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Similar Report:
1. North America Ultra-Mobile Devices Market
2. Canada Ultra-Mobile Devices Market
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