New York, US, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Market Analysis
The global Rugged Handheld Electronic Devices Market will touch USD 16,905.6 million at a 7.2% CAGR by 2030, according to the current Market Research Future report.
Drivers
Emergence of Industry 4.0 to Boost Market Growth
Industry 4.0's growth necessitates the use of robust portable devices with strong industrial chassis, scratch-resistant screens, and solid-state drives that can withstand shock and vibration (SSDs).
Opportunities
Growing Need for Damage Resistant Devices to offer Robust Opportunities
The market is expected to expand as a consequence of the rising demand for gadgets that are waterproof and damage-resistant in addition to other features.
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Key Players
Eminent market players profiled in the global speech analytics market report include:
- Handheld Group (Sweden)
- Panasonic Corporation (Japan)
- Datalogic SpA(Italy)
- Zebra Technologies (US)
- Honeywell International
- Inc. (US)
- Advantech Co.
- Getac Technology Corp. (Taiwan).
Rugged Handheld Electronic Devices Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | $16,905.6 Mn |
| Growth Rate | CAGR of 7.2% from 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Key Market Driver | Increasing demand for internet of things (iot) devices is one of the major factors that will boost the growth of this market. |
Restraints and Challenges
High Cost to act as Market Restraint
Over the course of the projection period, it is expected that the rugged handheld electronic devices' high price will significantly restrain the market's ability to grow. This restricts the market for individual users, consumers, and businesses that must purchase the devices in large quantities yet are constrained by the high cost. The tough handheld electronic gadgets also confront a few technological obstacles that keep them from operating at their peak potential. This is expected to further restrain market expansion.
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Market Segmentation
The global rugged handheld electronic devices market is segmented into end user and product type.
By product type, smartphones and tablets will lead the market over the forecast period. This is due to the burgeoning use of smartphones & tablets by numerous businesses for a variety of tasks, including delivery and sales among others.
By end user, manufacturing will dominate the market over the forecast period. This is explained by the rise in demand for robust portable electronic devices in manufacturing sectors, such as in factories and during different production processes.
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COVID-19 Analysis
Global travel bans, a state of lockdown, and delays in the supply chains of numerous businesses were all effects of COVID-19 on various industries throughout the world. The semiconductor sector has also been adversely damaged by the ongoing unprecedented event, with a sharp decline in revenues, due to the unpredictability of digital devices. Despite the growing unpredictability, chipmakers, in particular, continue to operate and work on a long-term plan for the semiconductor industry. Many semiconductor manufacturers cooperate with their partners and particular markets thanks to ongoing commercial stability. For instance, semiconductor manufacturers continuously work to improve their products' designs and manufacturing processes while putting their employees' health and safety first. The semiconductor sector has felt the necessity to maintain operations for the end users, including the medical & healthcare technologies that are working to combat the COVID-19 pandemic, such as artificial intelligence, Industry 4.0, and 5G. The pandemic restrictions significantly down the rate of adoption of the solutions because semiconductor components play a significant role in the manufacture of smart devices.
Regional Analysis
North America to Head Rugged Handheld Electronic Devices Market
Due to the presence of several important competitors in the region, such as Zebra Technologies Corporation, Honeywell International Inc., and Juniper Systems, Inc., North America represents the largest market for rugged handheld electronic devices globally. Early technological adoption in the area was extremely important to the market's expansion. Due to their capacity to provide greater device connection, rugged handheld devices are becoming more and more necessary in the US as technology and infrastructure within the industrial sector continue to advance. For emergency communication, inventory management, & other uses, the US government uses rugged handheld devices such scanners, PDAs, mobile PCs, and smartphones.
Even in severe and demanding situations, these devices can maintain uninterrupted remote communication with multiple devices. Similar to this, the country's rising demand for rugged handheld devices that are IoT-based is driving the market's expansion. The development of technology in Canada is significantly contributing to the rise in GDP of the nation. The market for rugged handheld devices is also expanding as a result of the presence of numerous manufacturers, including those in the automotive, mining, electrical, oil & gas, & other industries. These devices collect data and communicate with machines in real-time, and they also improve connectivity in emergency situations like fires and disasters. These handheld gadgets are also resistant to water, dust, intense heat, & vibration conditions thanks to their tough design, which enables their market adoption. The nation's law enforcement officers also employ these gadgets. The automobile, electronics, oil, energy, banking, and other important industries all contribute significantly to the development of the Mexican economy. Rugged devices with Android operating systems are being employed in industries to improve the network of communication between equipment and enable real-time data processing and transfer, enabling quick action before & during an emergency. In order to manage and preserve inventory, the rugged portable devices are utilized in retail stores & warehouses. This allows for appropriate tracking of the same.
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Industry Updates
September 2022- A handheld, ultra-thin, rugged fingerprint scanner was developed in collaboration by Coppernic, a developer of mobile terminals, and Integrated Biometrics. The gadget, known as Access-ER, uses Danno fingerprint scanner via Integrated Biometrics in addition to a number of innovative RFID and other data collection modules to meet the demands of various markets.
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