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Ultra-Mobile Devices Market to Hit $267.37 Billion by 2025
November 8, 2017 | PRNewswireEstimated reading time: 2 minutes
Ultra-mobile devices (UMD) are on the verge of becoming mainstream from being a niche product category. Their sales are soaring with companies banking on new product launches to entice the rising crop of tech savvy consumers. A prominent characteristic of the global ultra-mobile devices market is the presence of numerous suppliers for similar components which makes it easier for buyers to switch suppliers at low costs.
Some of the key players operating in the global ultra-mobile devices market are Apple, Inc., ASUSTeK Computer Inc., Dell, Inc., Google Inc., Hewlett-Packard Company, HTC Corporation, Lenovo Group Ltd., Microsoft Corporation, Samsung Electronics Co., Ltd., and Sony Corporation.
A report by Transparency Market Research forecasts the global ultra-mobile devices market to rise at a CAGR of 6.1% during the period between 2017 and 2025 to become worth US$267.37 billion by 2025 from $157.10 billion in 2016.
The different types of ultra-mobile devices purveyed in the market are tablets, laptops, convertibles, and detachables. Among them, the convertible ultra-mobile devices gross maximum revenue in the market. In 2016, the segment's leading share was around 28%. In the years ahead too, the segment is predicted to expand its leading share by growing at a healthy clip.
Geographically, the key segments of the global ultra-mobile devices market are Europe, Asia Pacific, North America, South America, and the Middle East and Africa. Of them, Asia Pacific is expected outpace all others by clocking the maximum CAGR of 7.0% from 2017 to 2025. Enormous growth in IT and telecommunication sectors, among others, particularly in the countries of China and India is predicted to majorly fuel the global ultra-mobile devices market in the region.
Rise in Enterprise Mobility Benefits Market
Major drivers in the global ultra-mobile devices market are the small and medium business. With a rise in enterprise mobility, 2-in-1 or hybrid ultra-mobile devices are being preferred over traditional laptops. Apart from that, the growing tech savvy population who seek on-the-go connectivity for entertainment and business applications is also serving to up demand for the sleek devices. Further, increasing incorporation of basic ultra-mobile devices such as tablets and chrome books in academic applications, particularly in developed nations of Canada, the U.S., and Sweden, is also positively impacting the market.
"Ultra-mobile devices offer extended portability and accessibility to cloud-based content and advanced computation on the go. This has resulted in their being ultra-low weight, advanced computing devices which consumers find handy. This in turn has helped the rising market penetration," explains the lead analyst of the TMR report.
Steep Prices Crimp Demand
One factor posing a challenge to the global ultra-mobile devices market is their steep prices on account of the cutting-edge technology they incorporate. High price of ultra-mobile devices, particularly premium category devices, is impacting the market growth of these devices in developing economies of Asia Pacific, South America, and Africa. However, with the increasing availability of easy finance options, due to increasing foreign investments in these regions, the impact of high price is expected to be low.
Currently, the IT and telecommunication industries are at the forefront of driving demand.
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