Ultra-Mobile Devices Market to reach $113.83 billion by 2030 -Huge Opportunity For Investors
Application in the consumer electronics domain boost the growth of the ultra-mobile devices (UMD) market.
PORTLAND, PORTLAND, OR, UNITED STATE, August 25, 2022 /EINPresswire.com/ — The consumer electronics segment is projected to dominate the market pertaining to increase in the number of internet users and enhanced functionality of UMDs. Premium UMDs constitute the highest market share due to enhanced functionality and improved processors. However, utility UMDs are estimated to portray the fastest growth since they are more affordable.Moreover, perceptible amount of portability and dual mode operations supported by ultra-mobile devices market (UMD) are anticipated to drive the global market. While, North America is expected be the largest market for UMDs during the forecast period, LAMEA is estimated to depict the fastest growth rate.
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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“North America is the most lucrative market for ultra-mobile devices pertaining to favorable price of basic and utility UMDs for major population in emerging economies such as India and China. The governments in North American countries are taking initiatives to deploy UMDs in educational institutions so that the large number of students can access effective learning contents”, states Zareen Afrin, Lead Analyst, Technology & Media at AMR.
LAMEA is estimated to be the fastest growing region during the forecast period as it has the highest market share in Middle East.
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The UMDs market comprises dominant players such as Google, HTC Corporation, Microsoft Corporation, Apple Inc., Lenovo, Samsung, Sony, HP Development Company L.P., Dell, and ASUSTeK Computer Inc. These market players primarily focus on new product launch as their key strategies to establish their position in the market.
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Key findings of the study:
• Utility UMDs market is expected to exhibit a remarkable growth due to proliferation in adoption among the emerging countries such as India and China.
• Consumer electronics industry contributes to the highest market share owing to the growth in number of internet users.
• LAMEA is expected to exhibit a promising growth during the forecast period.
• Industry participants focus on new product launches to improve their market share.
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