Portable Electronics Market

Global Portable Electronics Market Size (2024 to 2032)

The global portable electronics market is estimated to be USD 1,069 billion in 2024 and is projected to reach USD 2,527 billion by 2032, at a CAGR of 11.35% from 2024 to 2032.

MARKET SCENARIO

Because of the presence of microprocessors, portable electronics are light in weight, smaller in size, and portable in nature. Smartphones, personal digital assistants, laptops, media players, game consoles, digital cameras, navigation systems, power banks, flash drives, healthcare equipment, and other handheld gadgets are examples of portable electronics. Electronic devices have become much easier to handle and transport because of their portability. Because of ongoing technological advancements, portable devices now have more purposes than merely playing music and making phone calls.

MARKET DRIVERS

One of the wonderful aspects that has made electronic devices so easy to manage and take around is their portability. Because of continual technological advancements, portable electronics have included a variety of functions. Furthermore, various reasons such as the growing need for portable characteristics, smartphone penetration, and higher disposable income or purchasing power will all contribute to the market's growth in the near future. Furthermore, the electronic sector has risen greatly in recent years as a result of various new technological breakthroughs. As a result, technological advancements and falling electronics device prices are expected to propel the worldwide Portable Electronics market forward in the future years.

The need for portable electronics will rise in tandem with the expanding population of the older generation. In addition, as consumers and healthcare facilities become more aware, additional growth prospects will emerge. Apart from that, the expansion of portable medical devices will be aided by the rise in sedentary lifestyles. The increased demand for portable gadgets and services is propelling the Portable Electronics Market forward. Small and portable devices can also be easily created thanks to technology breakthroughs and microprocessors. The devices' accurate and real-time data will help improve patient treatment, boosting the industry's growth.

MARKET RESTRAINTS

The higher pricing of portable gadgets is one of the primary limitations to the Portable Electronics Market's growth. Furthermore, technological issues with connectivity and a lack of data security might considerably stifle market expansion. The security issues that must be addressed in order to protect the device from any data breaches or cyberattacks are a big challenge for the Portable Electronics Market. Furthermore, the networks are extremely responsive to radio transmissions and other signals. This could cause the Wi-Fi network to go down. On the flipside, global market expansion is being stifled by digital convergence. Tablet adoption has resulted in a decrease in traditional desktop PC sales, and laptops will be the primary threat to the portable electronics market in the near future.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Portable Electronics Market Analysis By Product Type:

• Mobile Handset
• Personal Digital Assistant
• Notebook/Laptop
• Media Players
• Gaming Consoles
• Digital Camera
• Navigation Systems
• Power Banks
• Flash Drives
• Healthcare Devices

Based on product type, the personal digital assistants segment is expected to account for a dominant share of the global portable electronics market during the forecast period. A personal digital assistant (PDA) is a compact, mobile, handheld device that has computer and information storing and retrieval capabilities for personal or business usage and is frequently used to manage schedules, calendars, and address book information on hand. Most PDAs had a small physical keyboard, and some also had an electronically sensitive pad for receiving handwriting. Storage and retrieval of schedules and address books, as well as notetaking, were among the first applications for a personal digital assistant. PDAs, on the other hand, have a wide range of applications.

The gaming consoles segment is anticipated to hold a substantial share of the global portable electronics market during the forecast period. A Portable game console, sometimes known as a portable game console, is a compact, self-contained video game system with a built-in screen, gaming controls, and speakers. Handheld game consoles are smaller than home video game consoles and combine the console, screen, speakers, and controllers into a single unit, allowing them to be carried and played at any time or location.

The flash drives segment is expected to register the highest CAGR in the global portable electronics market during the forecast period. A flash drive is made from a compact printed circuit board with circuit elements and a USB connector, which is encased in a plastic, metal, or rubberized shell that can be carried in a pocket or attached to a key chain. Some have an I/O indicator LED that turns on or blinks when a device is accessed. A removable cap or retracting into the body of the drive can cover the USB connector, but it is unlikely to be damaged if left exposed. Most flash drives use a conventional type-A USB connection to connect to a computer's port, however, drives with other interfaces are also available. USB flash drives use the USB connection to get electricity from the computer.

Global Portable Electronics Market Analysis By End User

• Personal
• Industrial
• Commercial
• Military
• Medical

Based on end-user, the medical segment is expected to account for the dominant share of the global portable electronics market during the forecast period. A lot of ailments have arisen as a result of modern living, and medical research has discovered a means to combat them. For a wide spectrum of patients, portable gadgets play an important role in monitoring and managing their healthcare. A large range of portable medical devices are already available, and several next-generation gadgets are in the works. Hardware, operating systems, and device communication are the major technological obstacles.

The industrial segment is expected to have the next dominant share in the global portable electronics market during the forecast period. It covers all control systems, instrumentation, mechanism and diagnosis, signal processing, and automation methods and procedures used in many industrial applications. Electrical power machine designs, power conditioning, and power semiconductor devices are the most important research fields in industrial electronics.

REGIONAL ANALYSIS

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

North America is expected to have the dominant share in the global portable electronics market during the Forecast Period. This is attributable to the existence of key market participants in this region, as well as technical advancements and a growing need for digitization. Furthermore, due to rising demand for digital technologies and well-established infrastructure that permits the adoption of modern technologies, nations such as the United States and Canada are key players in the regional market. Countries like Canada and the United States dominate the region. The massive growth is primarily due to the rising demand for digital technologies and other improvements. In addition, the increasing rate of adoption of digital technology and portable electronic devices will exponentially accelerate growth.

Asia-Pacific is expected to register the next dominant share and high CAGR in the global portable electronics market during the forecast period. It includes nations like Japan, India, China, and others. The market would be boosted by the rising acceptance rate of various wearable medical devices and the growing elderly population. This is due to the region's expanding electronics sector and burgeoning population. Developing countries like China and India are the main drivers of regional market expansion. Furthermore, China is a major producer of portable electronic equipment. Growing investments by key players in research & development operations for the introduction of innovative portable electronics goods are likely to open up a plethora of new prospects for market growth in this area in the Forecast Period.

KEY MARKET PLAYERS

The Major Players in the Portable Electronics Market are Samsung Electronics, Apple Inc., Sony Corporation, Dell Inc., Eastman Kodak Company, Toshiba Corporation, PAKM Inc., Eastman Kodak Company, Nokia Corporation, and Motorola Solutions Inc.

RECENT HAPPENINGS IN THE MARKET

• Sony Electronics has unveiled the URX-P41D, a two-channel portable receiver with a Digital Audio Interface that supports MI (Multi-Interface) shoe. The URX-P41D is said to have increased excellent sound quality thanks to Digital Audio Processing, NFC Sync for quick and easy setup from Receiver to Transmitter, and Auto Gain mode and Output level control, among other features.
• The Freestyle is a revolutionary projector, smart speaker, and ambient lighting gadget all packaged into one lightweight, portable product from Samsung, India's largest and most trusted consumer Electronics Company. The Freestyle, aimed at Gen Z and millennials on the road, offers first-of-its-kind technology and flexibility to provide optimal viewing and entertainment for users who want to take their video and audio material with them wherever they go.