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.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
9.7% |
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Base Year Market Size (2024) |
USD 1954.9 billion |
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Forecast Year Market Size (2037) |
USD 6513.3 billion |
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Regional Scope |
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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:
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Product |
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Operating System |
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Distribution Channel |
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Application |
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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.
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:
Author Credits: Abhishek Verma
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