IT equipment market Growing demand, growth analysis and the future

The global IT devices market is expected to grow at a CAGR of 9.1% during the forecast period (2024-2031). The growing potential of cloud-based online applications and services often requires more processing power, storage capacity and bandwidth than traditional software. This creates a need for more powerful devices such as laptops, desktops and tablets that can meet these demands. Additionally, the shift towards remote work and online collaboration tools such as video conferencing platforms requires devices with reliable internet connectivity, good webcams and microphones. This is driving demand for laptops, tablets and even smartphones with improved communication features. For example, in December 2023, Grameenphone introduced a range of Internet of Things (IoT) devices, enabling users to remotely monitor and control gas stoves, lighting and other related security aspects in their home, vehicle and office. The product line and the application that allows users to control and operate the device are under the Alo brand and eight types of devices will be available. From December, customers can pre-book these devices at Grameenphone Experience Centers in Dhaka and Chattogram.

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Moreover, the growing adoption of smartphones, wearables and smart home devices is driving market expansion. Connected devices offer greater convenience and automation, simplifying everyday tasks and routines. Connected devices collect data and personalize user experiences. From music recommendations based on listening habits to intelligent lighting that adapts 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 such as security cameras and smart locks enable remote monitoring, and connected devices can be controlled remotely for convenience and security. For example, in May 2023, Varanium Cloud and QMS MAS (Medical Allied Services), a leader in healthcare and wellness, joined forces to launch Vyana, a revolutionary medical wearable device. The device was launched as part of the extensive QMS MAS bedside product range under the Q Devices banner, which saw the company enter the direct selling sector for the first time. Vyana aims to meet the growing demand for a medical wearable device that helps people get help in a timely manner. It is designed to constantly monitor vital signs and send instant notifications, as well as directly contact the user and their emergency contacts in the event of significant fluctuations, making it a necessity for high-risk groups.

Market coverage

• 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 the end user
• Regions covered-
o North America
Europe
o Asia and the Pacific
oRest of the world
• Competitive landscape – includes ABB Ltd., Apple Inc., Cisco Systems, Dell Technologies Inc., Eaton Corp, Honeywell International Inc., among others. and Microsoft Corp.

Key questions raised in the report.

• What is the market growth rate?
• Which segment and region dominates the market in the base year?
• Which segment and region forecasts the fastest growth on the market?
• Who is the market leader?
• How do players overcome challenges to maintain growth?
• Where is the investment opportunity?

Segment of the report on the global IT devices market

By product type

• Computers and laptops
• Mobile devices
• Other (peripherals and network equipment)

By operating systems

• Windows
• Mac operating system
• iOS
• Android
• Other (Linux)

By the end user

• Consumer
• Enterprise

Full IT Devices Market report available @ https://www.omrglobal.com/industry-reports/it-devices-market

IT Devices Market Report Segments by Region

North America

• United States
• Canada

Europe

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

Asia and the Pacific

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

Rest of the world

• Middle East and Africa
• Latin America

Company profiles

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

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