IT Devices Market - Regional Analysis
Asia Pacific Market Insights
Asia Pacific industry is likely to dominate majority revenue share of 40.5% by 2035. 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 Insights
By the end of 2035, 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.
