ALBANY, NY – The global rugged electronics market was $9.4 billion in 2017 and is expected to rise to $17.46 billion by 2025, a CAGR of 8.1% for the forecast period, says Transparency Market Research.
Regionally, North America is the leading contributor to the global rugged electronics market and is likely to remain the dominant force in the market in the coming years, says the firm. Beyond the rapid growth of the North American market, Asia Pacific provides significant opportunities for players in the rugged electronics market and could emerge as a leading regional contributor to the global rugged electronics market in the coming years on the back of rising demand from developing countries such as China, Japan, India, and South Korea.
One of the prime drivers for the global rugged electronics market is the rising use of rugged electronics in military applications. In modern warfare, communication has taken on a vital role due to the availability of computer guided weaponry and the rising use of electronics in various combat systems. This has provided the global rugged electronics market with a steady sales outlet, as the defense sector requires equipment that can function at optimum conditions, even at the height of battle. The growing expenditure by various countries on making their defense sector smarter rather than the biggest and most voluminous is thus likely to be a key factor in the steady growth of the global rugged electronics market in the coming years, says Transparency Market Research.
The power industry could also play an important role in the development of the global rugged electronics market in the coming years. The rising demand for smart grid initiatives has driven investment in the power sector, leading to the adoption of technological advances such as rugged electronics. As the power sector of the future is being oriented toward working almost entirely without human supervision, the rugged electronics sector could become a key part of the transformation.
Despite the growing adoption of the rugged electronics sector in a number of industries, the sector continues to miss out on individual electronics customers: one of the most financially relevant consumer demographics in modern times, says the firm. While the utility provided by rugged electronics remains undoubted, the high cost of the technology still needs to be compensated by high order volume, as it doesn't present notable benefits to the average urban user. While some aspects of rugged electronics technology are likely to be incorporated in the global consumer goods and electronics sectors in the coming years, the rugged electronics industry is likely to suffer from the lack of sweeping adoption in consumer electronics.
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