IT Devices Market Segmentation:
Product Segment Analysis
Mobile devices segment is anticipated to hold IT devices market share of over 48.5% by the end of 2035, 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 Segment Analysis
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 2035. 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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