Increasing Usage of Smartphones and Tablets to Open New Growth Avenues
OREANDA-NEWS. Thanks to the enormous increase in data being transferred continuously, the demand for rugged electronics has been witnessing a remarkable rise. As rugged electronics are specially designed to operate smoothly even in harsh settings, their deployment in the metal and mining, power, healthcare, chemicals, defense, aerospace, and transportation sectors has been increasing significantly across the world.
In 2015, the global market for rugged electronics presented an opportunity worth US$11.4 bn, states a report published by Transparency Market Research (TMR). In terms of value, the overall market is likely to expand at a CAGR of 9.60% between 2016 and 2024 and reach US$26 bn by the end of 2024.
In this blog, analysts at TMR answer some important queries regarding the global market for rugged electronics:
Q.What are future defining trends in the global rugged electronics market?
The increasing usage of smartphones and tablets has been fueling the demand for rugged electronics significantly over the recent past. The trend is likely to continue in the near future too, reflecting positively in the sales of these electronics in the years to come.
Apart from this, the growing need of warfighters to communicate continuously in order to exchange important information and for various other purposes, such as command, surveillance, reconnaissance, and intelligence gathering, are also expected to boost the demand for rugged electronics significantly over the next few years. On the other hand, the high cost associated with rugged electronics when compared with traditional electronic devices is anticipated to hold the market back to some extent in the coming years.
Q.Which of the regional markets will acquire the leading position in the near future?
The North America market for rugged electronics is expected to maintain a leading streak in the near future. The robust rise of the aerospace and defense sectors in North America is likely to drive the demand for rugged electronics considerably in this region. Besides, the increased usage of these electronics in the power sector is also expected to greatly influence the rugged electronics market in North America over the next few years.
Asia Pacific, however, is projected to present the most promising growth prospects to rugged electronics manufacturers on account of the extensive technological developments the region is currently witnessing.
Q.What is the key strategy adopted by leading players for business expansion?
Innovation and advancement is the prime strategy that key participants in the global market for rugged electronics have adopted. Recently, Panasonic, a leading manufacturer of rugged electronics, introduced a rugged camera, called Aero PTZ. This camera is specifically designed for a varied array of extreme environments and provides full HD surveillance images. A little earlier, the company had launched a series of rugged handheld tablets, named ToughPad FZ. With these launches, the company hopes to enhance its visibility in the global market.
DRS Technologies Inc., Xplore Technology Corp., and Mountain Secure Systems are some of the other prominent rugged device vendors across the world.