Albany, NY -- (SBWIRE) -- 10/18/2018 -- The in-depth report on the global smart connected devices market takes a closer look at key trends and opportunities, lucrative application areas, major technological advancements in various segments, and the competitive dynamics prevailing in various regions. The study offers a critical assessment of avenues in key regional markets and estimates their share and size in the overall smart connected devices market.

The staggering rise in demand for smartphones, tablets, and smart mobile devices, coupled with the rapid strides being made by internet of things (IoT) technologies in various parts of the world, is a key factor driving the smart connected devices market. Constant advancement in sensors used in devices is aiding in the rapid expansion of the market. The growing adoption of residential and commercial smart connected devices such as smart locks, smart doors, and smart thermostats is accentuating the market. In particular, the rising demand for IoT-enabled home devices that enhance the consumer preference is bolstering the demand for smart connected devices.

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The smart connected devices is benefitting substantially from the adoption among enterprises from a wide range of industries. The growing trend of bring your own device (BYOD) is a crucial factor supporting this adoption, especially in emerging and developed economies. The rising investment from several big companies from multiple industry verticals is expected to impart robust growth momentum to the smart connected devices market.

Recent advances made in IoT-based operating system also augurs well for the market. Rapid strides being taken by Wi-Fi technologies have further expanded the prospects. The advent of users in developing countries who able to enjoy high-speed, reliable network connections at affordable prices will fuel the demand for smart connected devices. The advent of scalable IoT platforms is expected to unlock substantial promising prospect in the smart connected devices market.

On the regional front, developed regions such as North America have vast appetite for advanced IoT technologies in various end-use industries. The regional market contributes the major share to the global connected devices market. Europe and Asia Pacific are also expected to be potentially lucrative markets for smart connected devices throughout the assessment period.

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In recent years, government efforts to adopt connected devices for smart city developments in several developed as well developing countries has increased substantially. Moreover, industry efforts to bolster the security and safety of devices are likely to create new paradigms in the smart connected devices market.
Some of the prominent players vying for a prominent position in the smart connected devices market include Lenovo Group Ltd., Gionee, Dell, Apple, HTC Corporation, Nokia Networks, Motorola Solutions, Samsung Electronics, and Sony Corporation.

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