IT Devices Market Size & Share, by Product (Mobile Devices, Peripheral Devices, Computers & Laptops, Networking Equipment); Operating System; Distribution Channel: Application - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025-2037

  • Report ID: 6425
  • Published Date: Sep 13, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

IT Devices Market size is assessed at USD 1954.9 billion in 2024 and is set to exceed USD 6513.3 billion by the end of 2037, expanding at over 9.7% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of IT devices is estimated at USD 2144.5 billion. The rising digital shift in every organization and advancements in smart devices are driving the overall market growth.

Android-enabled IT devices are anticipated to capture 45.5% of the global IT devices market share by 2037 owing to its open-source operating system capability. Android seamlessly supports digital technologies such as artificial intelligence, 5G, and augmented reality, which drives its demand growth. North America is home to robust IT and electronics manufacturing due to the rapid expansion of corporate businesses. The Association for Manufacturing Technology (AMT), totalled USD 386.7 million in revenue of the U.S. manufacturing technology orders in May 2024. New machinery orders went up 22% in April 2024 from 6.5% in May 2023 and in the first five months of 2024, the value of orders placed exceeded USD 1.8 billion.


IT Devices Market Overview
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IT Devices Sector: Growth Drivers and Challenges

Growth Drivers

  • Innovations in wearable devices: The advancements in wearable sensors also known as next-gen sensors such as biological, psychological, and motion sensing are positively influencing the IT devices market growth. The miniaturization of electric circuits, integration of real-time GPS tracking system, and applicability of accelerometers are leading to the development of advanced wearable devices. Wearable device’s ability to track physical activities such as step counts, heart rate monitoring, and other movement patterns is increasing their importance in health management, ultimately uplifting their demand growth. Many medical device manufacturers are integrating smart sensors into their devices to introduce advanced products. The market for smart wearable sensors is anticipated to be valued at USD 258.8 billion in 2025.
  • Rising adoption of remote jobs: The rise in hybrid and remote work models is increasing the demand for IT devices such as laptops, webcams, batteries, and other related devices.  For remote work, reliable access to cloud platforms is necessary, this need for seamless and robust connectivity is driving high demand for advanced IT devices. Currently, 1 in 5 employees are working remotely, and by 2025 around 32.6 million American employees are expected to be working in the remote model.

Challenges

  • High costs of advanced IT products: The development of advanced IT products requires high investments in research and development, which increases the overall product costs. Small companies that run on limited budgets often fail to install advanced IT devices due to their high costs. Also, consumers in poor regions cannot access advanced IT equipment due to their low spending power.
  • Intense competition challenging profit growth: The rising emergence of companies in the IT devices market is leading to aggressive competition and creating a significant challenge for existing market players. This is also leading to price wars resulting in reduced profit margins. Companies may need to invest more in product improvement, marketing, and promotional discounts to stand out in the crowd but this can lead to eroding profitability.

IT Devices Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

9.7%

Base Year Market Size (2024)

USD 1954.9 billion

Forecast Year Market Size (2037)

USD 6513.3 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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IT Devices Segmentation

 Product (Mobile Devices, Peripheral Devices, Computers and Laptops, Networking Equipment)

Mobile devices segment is anticipated to hold IT devices market share of over 48.5% by the end of 2037, owing to their high adoption rates worldwide. Continuous advancements and upgrades in mobile phone models and the presence of numerous manufacturers are leading to price competitiveness, which benefits customers. The easy availability of smartphones at affordable prices is driving their demand in high-potential economies such as Asia Pacific and Latin America. For instance, there are more than 7.2 billion active smartphone users across the world. Also, Germany alone is witnessing the penetration of smartphones over 80%.

Student demographic is showing a positive correlation to smartphone ownership, around 69% of high-school graduate students have smartphones. The rise in online education programs is primarily driving the sales of smartphones, the majority of students in emerging economies cannot afford laptops and computers due to their high prices, which creates a vast profit scope for smartphone manufacturers and set competitive pricing standards.

Distribution Channel (Online, Offline)

The offline distribution of IT devices is expected to hold dominance throughout the forecast period owing to their immediate availability and reliable after-sales service. In IT devices market, offline segment is projected to capture revenue share of over 59.5% by 2037. Consumers often prefer to physically see and test IT devices before purchasing this factor is contributing to their offline sales growth. Offline stores also offer many deals and discounts and provide immediate support and a smooth return process, this drives the purchasing decision of consumers and uplifts the offline sales of IT devices.

Our in-depth analysis of the IT devices market includes the following segments:

Product

  • Mobile Devices
  • Peripheral Devices
  • Computers & Laptops
  • Networking Equipment

Operating System

  • Windows
  • macOS
  • Linux
  • iOS
  • Android

Distribution Channel

  • Online
  • Offline

Application

  • Enterprise
  • Consumer 

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IT Devices Industry - Regional Scope

Asia Pacific Market Forecast

The Asia Pacific IT devices market is estimated to be valued at USD 774.9 billion in 2025 and is expected to rise at a CAGR of 9.9% from 2025 to 2037. The consumer electronics sector is expanding at a high pace in the region owing to the presence of strong manufacturing hubs in countries such as China, India, Taiwan, Japan, and South Korea. The shift toward digitalization is driving high demand for IT devices in several organizations in the region.

China is a hub for semiconductors that are highly used in every consumer electronic product, and the vast production of smart devices is driving the overall market growth in the country. The burgeoning start-up ecosystem in India is pushing the adoption of IT solutions and hardware for smooth organizational operations.

North America Market Statistics

By the end of 2037, North America IT devices market is set to capture around 35.5% revenue share owing to the presence of tech-savvy consumers. North America is at the forefront of innovations and the presence of several technology companies such as Apple, Google, and Microsoft are driving the overall market growth.

The U.S. consumers are early adopters of IT devices such as smartphones, smart wearables, laptops, and tablets that are contributing to the profit growth of market players. The gaming trend and increasing demand for personal gadgets are also fuelling the IT devices market growth in the country. The producer price index of the computer and electronic product manufacturing subsector was 101.929 in April 2024, finds the U.S. Bureau of Labor Statistics, and the number of establishments in computer and electronic product manufacturing increased from 25,189 in Q2 2023 to 26,154 in Q1 2024, indicating potential for computers, computer peripherals, and communications equipment manufacturing in the country.

Canada is emerging as a high-growth marketplace for IT devices such as laptops and tablets due to the rise in the E-leaning platforms, The growing consumer interest in smart homes is also promoting the sales of advanced IT devices in the country.

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IT Devices Market_ Share
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Companies Dominating the IT Devices Landscape

    The IT devices market is quite competitive owing to the presence of established players and the emergence of new companies. The leading companies are focused on advancing their existing products to maintain their dominance in the market. They are also collaborating with other market players to increase their market reach. Strategies such as mergers & acquisitions, regional expansion, and partnerships are further expected to boost their revenue growth. The start-ups are investing heavily in research and development activities to introduce advanced IT products and stand out from the crowd.

    Some of the key players in IT devices market include:

    • Microsoft Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Samsung Electronics Co Ltd
    • Schneider Electric S.E.
    • Siemens AG
    • Dell Technologies Inc.
    • Eaton Corporation
    • Honeywell International Inc.
    • Landis Gyr Inc.
    • ABB Ltd.
    • Open Systems International Inc.
    • Rockwell Automation Inc.
    • S & C Electric Company
    • Apple Inc.
    • Cisco Systems
    • Lenovo Group Limited

In the News

  • In February 2024, Xiaomi announced the global launch of its latest array of wearable devices including Xiaomi Smart Band 8 Pro, Xiaomi Watch 2, and Xiaomi Watch S3. As per the company’s analysis, these products are set to witness high demand in the coming years.
  • In February 2024, Honor launched its latest AI-powered laptop MagicBook Pro 16, this next-gen product is set to redefine the traditional laptop’s landscape.

Author Credits:  Abhishek Verma


  • Report ID: 6425
  • Published Date: Sep 13, 2024
  • Report Format: PDF, PPT
IT Devices Market Report Scope
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