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    Smart Connected Devices Market

    ID: MRFR/SEM/4213-HCR
    100 Pages
    Shubham Munde
    September 2025

    Smart Connected Devices Market Research Report Information By Product (Smartphones, Smart Watch, Smart Glasses, Wireless Printers, Smart Meters, Smart Cameras, Connected Bulbs, Smart Locks), End User (Industrial, Commercial, Residential)- Industry Forecast Till 2032

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    Table of Contents

    Smart Connected Devices Market Summary

    As per Market Research Future Analysis, the Smart Connected Devices Market was valued at USD 21.5 billion in 2023 and is projected to grow from USD 26.1 billion in 2024 to USD 123.4 billion by 2032, with a CAGR of 21.4% during the forecast period. The market is driven by increasing demand for IoT and cloud-based platforms, alongside technological advancements that enhance energy efficiency and comfort. However, challenges such as the complexity of system upgrades and budget constraints may hinder growth. The APAC region is expected to lead market expansion, supported by government initiatives and investments in smart connected systems.

    Key Market Trends & Highlights

    The Smart Connected Devices Market is experiencing rapid growth driven by technological advancements and increasing consumer demand.

    • Market Size in 2023: USD 21.5 billion
    • Projected Market Size by 2032: USD 123.4 billion
    • CAGR from 2024 to 2032: 21.4%
    • APAC region expected to grow at the highest rate during the forecast period

    Market Size & Forecast

    2023 Market Size USD 21.5 billion
    2024 Market Size USD 26.1 billion
    2032 Market Size USD 123.4 billion

    Major Players

    Intel Corporation, Broadcom Corporation, Texas Instruments, ABB Ltd, Google, Amazon

    Smart Connected Devices Market Trends

    The proliferation of smart connected devices is reshaping consumer interactions and driving innovation across various sectors, indicating a transformative shift in technology adoption.

    U.S. Department of Commerce

    Smart Connected Devices Market Drivers

    Rising Consumer Demand for Smart Devices

    The Global Smart Connected Devices Market Industry experiences a notable surge in consumer demand for smart devices, driven by the increasing integration of technology into daily life. In 2024, the market is projected to reach 26.1 USD Billion, reflecting a growing preference for devices that enhance convenience and connectivity. Consumers are increasingly seeking smart home devices, wearables, and connected appliances that offer seamless integration with their lifestyles. This trend indicates a shift towards a more connected living environment, where devices communicate and collaborate, thereby improving user experience and efficiency.

    Market Segment Insights

    Regional Insights

    Key Companies in the Smart Connected Devices Market market include

    Industry Developments

    Amazon:

      • September 28, 2023- Launched "Astro," a home robot offering security, companionship, and entertainment features.
      • February 8, 2024- Partnered with Qualcomm to develop edge computing solutions for smart devices.

    Google:

      • July 28, 2023- Unveiled the Pixel Buds Pro with improved noise cancellation and multipoint connectivity.
      • January 4, 2024- Announced advancements in its Matter smart home platform.

    Intended Audience

      • Potential Market Investors
      • Smart Connected Device Manufacturers And Vendors
      • Enterprises, Business and Corporate Entities
      • Research And Development Institutions
      • Company Headquarters
      • Management and Marketing Systems
      • Government and Public Entities
      • Members of Public Associations Functioning for the Benefit of Established Companies
      • Startups

    Future Outlook

    Smart Connected Devices Market Future Outlook

    The Smart Connected Devices Market is poised for robust growth at 21.42% CAGR from 2024 to 2035, driven by advancements in IoT, AI integration, and consumer demand for automation.

    New opportunities lie in:

    • Develop AI-driven analytics platforms for enhanced device interoperability.
    • Invest in sustainable materials for eco-friendly smart devices.
    • Create subscription models for software updates and device management services.

    By 2035, the Smart Connected Devices Market is expected to achieve substantial growth, reflecting evolving consumer preferences and technological advancements.

    Market Segmentation

    Smart Connected Devices Module Outlook

    • Hardware
    • APM software & platform
    • Service

    Smart Connected Devices Industry Outlook

    • Automotive & Transportation
    • Energy & Power
    • Healthcare
    • Smart Agriculture
    • Factory Automation
    • Others (Metal & Mining, Food & beverage, and Textile)
    • Americas
    • Europe
    • APAC
    • RoW
    • Intel Corporation (U.S.)
    • iSolution international Pvt. Ltd ( Philippines)
    • Broadcom Corporation (U.S.)
    • OMCS International (U.S.)
    • Freescale Semiconductor, Inc. (U.S.)
    • Maintenance Assistant Inc. (U.S.)
    • ARM holding plc (U.K.)
    • Bentley systems incorporated (U.S.)
    • Texas Instruments (U.S.)
    • Cypress Semiconductor (U.S.)
    • ABB Ltd (Switzerland)
    • Rockwell Automation (U.S.)
    • NXP Semiconductor (Netherlands)
    • September 28, 2023- Launched "Astro," a home robot offering security, companionship, and entertainment features.
    • February 8, 2024- Partnered with Qualcomm to develop edge computing solutions for smart devices.
    • July 28, 2023- Unveiled the Pixel Buds Pro with improved noise cancellation and multipoint connectivity.
    • January 4, 2024- Announced advancements in its Matter smart home platform.
    • Potential Market Investors
    • Smart Connected Device Manufacturers And Vendors
    • Enterprises, Business and Corporate Entities
    • Research And Development Institutions
    • Company Headquarters
    • Management and Marketing Systems
    • Government and Public Entities
    • Members of Public Associations Functioning for the Benefit of Established Companies
    • Startups

    Report Scope

    Report Attribute/Metric Details
    Market Size 2032 123.4 Billion
    CAGR 21.4%
    Base Year 2023
    Forecast Period 2024-2032
    Historical Data 2018 and 2022
    Forecast Units Value (USD Million)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered By Module, Industry and Geography
    Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
    Key Vendors Sony Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Motorola Solutions Inc. (U.S.), Nokia Networks (Finland), LG Corporation (South Korea), Hewlett-Packard (U.S.), HTC Corporation (Taiwan), Apple Inc. (U.S.), Dell Inc. (U.S.), Gionee Communication Equipment Co. Ltd (China), Micromax Informatics (India), Videocon Industries Ltd. (India), Acer Inc. (Taiwan), Lenovo Group Ltd. (Hong Kong), Blackberry Ltd. (Canada), and ZTE Corporation (China)
    Key Market Opportunities The growth of the market in North America is attributed to technological advancements and increased adoption of smart connected devices across various industry verticals.
    Key Market Drivers ·  Major factors driving the growth of smart connected devices market include the growing demand for smartphones, tablets, and other smart devices and growing popularity of bringing your own device.·  Increasing demand for mobile smart connected devices is expected to drive the growth of the global smart connected devices market.

    Market Highlights

    Author
    Shubham Munde
    Research Analyst Level II

    With a technical background in information technology & semiconductors, Shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the ICT/Semiconductor domain. Shubham holds a Bachelor’s in Information and Technology and a Master of Business Administration (MBA). Shubham has executed over 150 research projects for our clients under the brand name Market Research Future in the last 2 years. His core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. He is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. He has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. He has worked on the projects of top tech brands such as IBM, Google, Microsoft, AWS, Meta, Oracle, Cisco Systems, Samsung, Accenture, VMware, Schneider Electric, Dell, HP, Ericsson, and so many others. He has worked on Metaverse, Web 3.0, Zero-Trust security, cyber-security, blockchain, quantum computing, robotics, 5G technology, High-Performance computing, data centers, AI, automation, IT equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.

    Get In Touch
    Leave a Comment

    FAQs

    What are the major tailwinds pushing the growth of the global smart connected devices market?

    Growing demand for smart devices, such as smartphones, tablets and BYOD trend are the major tailwinds pushing the growth of the global smart connected devices market.

    Which is the major segment in the global smart connected devices market?

    Smart locks by product is the largest segment in the global smart connected devices market.

    Who are the top players in the global smart connected devices market?

    Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), Motorola Solutions Inc. (U.S.), LG Corporation (South Korea), Nokia Networks (Finland), Hewlett- Packard (U.S.), Apple Inc. (U.S.), HTC Corporation (Taiwan), Dell Inc. (U.S.), Micromax Informatics (India), Gionee Communication Equipment Co. Ltd (China), Videocon Industries Ltd. (India), Lenovo Group Ltd. (Hong Kong), Acer Inc. (Taiwan), ZTE Corporation (China), and Blackberry Ltd. (Canada), are some of the top players operating in the global smart connected devices market.

    1. 'TABLE OF CONTENTS
    2. Executive Summary
    3. Scope of the Report
    4. Market Definition
      1. Scope of the Study
        1. Research Objectives
        2. Assumptions & Limitations
      2. Markets Structure
    5. Market Research
    6. Methodology
      1. Research Process
      2. Secondary Research
      3. Primary
    7. Research
      1. Forecast Model
    8. Market Landscape
      1. Porter’s
    9. Five Forces Analysis
      1. Threat of New Entrants
        1. Bargaining power
    10. of buyers
      1. Threat of substitutes
        1. Segment rivalry
      2. Value
    11. Chain/Supply Chain of Global Smart Connected Devices Market
    12. Industry Overview
    13. of Global Smart Connected Devices Market
      1. Introduction
      2. Growth Drivers
      3. Impact analysis
      4. Market Challenges
    14. Market Trends
      1. Introduction
      2. Growth Trends
      3. Impact analysis
    15. Global Smart Connected Devices
    16. Market by Product
      1. Introduction
      2. Media Players
        1. Market
    17. Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast by
    18. Region, 2024-2032
      1. Smart Watch
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast by Region, 2024-2032
    19. Smart Band
      1. Market Estimates & Forecast, 2024-2032
        1. Market
    20. Estimates & Forecast by Region, 2024-2032
      1. Smart Glasses
    21. Market Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast
    22. by Region, 2024-2032
      1. Smart Clothing
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast by Region, 2024-2032
    23. Wireless Printers
      1. Market Estimates & Forecast, 2024-2032
    24. Market Estimates & Forecast by Region, 2024-2032
      1. Smart Meters
    25. Market Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast
    26. by Region, 2024-2032
      1. Smart Cameras
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast by Region, 2024-2032
    27. Connected Bulbs
      1. Market Estimates & Forecast, 2024-2032
    28. Market Estimates & Forecast by Region, 2024-2032
      1. Smart Locks
    29. Market Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast
    30. by Region, 2024-2032
      1. Smart Thermostats
        1. Market Estimates &
    31. Forecast, 2024-2032
      1. Market Estimates & Forecast by Region, 2024-2032
      2. Smart Home Appliances
        1. Market Estimates & Forecast, 2024-2032
        2. Market Estimates & Forecast by Region, 2024-2032
      3. Smartphones
        1. Market Estimates & Forecast, 2024-2032
        2. Market Estimates
    32. & Forecast by Region, 2024-2032
      1. Tablets
        1. Market Estimates
    33. & Forecast, 2024-2032
      1. Market Estimates & Forecast by Region,
    34. Global Smart Connected Devices Market by End User
      1. Introduction
      2. Industrial
        1. Market Estimates & Forecast, 2024-2032
    35. Market Estimates & Forecast by Region, 2024-2032
      1. Commercial
    36. Market Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast
    37. by Region, 2024-2032
      1. Residential
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast by Region, 2024-2032
    38. Global Smart Connected Devices Market by Region
      1. Introduction
      2. North
    39. America
      1. Market Estimates & Forecast, 2024-2032
        1. Market
    40. Estimates & Forecast by Product, 2024-2032
      1. Market Estimates &
    41. Forecast by End User, 2024-2032
      1. U.S.
        1. Market Estimates &
    42. Forecast, 2024-2032
      1. Market Estimates & Forecast by Product, 2024-2032
        1. Market Estimates & Forecast by End User, 2024-2032
        2. Canada
    43. & Forecast by Product, 2024-2032
      1. Market Estimates & Forecast
    44. by End User, 2024-2032
      1. Mexico
        1. Market Estimates & Forecast,
      2. Europe
        1. Market Estimates & Forecast, 2024-2032
        2. Market Estimates &
    45. Forecast by Product, 2024-2032
      1. Market Estimates & Forecast by End
    46. User, 2024-2032
      1. Germany
        1. Market Estimates & Forecast,
    47. France
      1. Market Estimates & Forecast, 2024-2032
        1. Market
    48. Estimates & Forecast by Product, 2024-2032
      1. Market Estimates &
    49. Forecast by End User, 2024-2032
      1. Italy
        1. Market Estimates &
    50. Forecast, 2024-2032
      1. Market Estimates & Forecast by Product, 2024-2032
        1. Market Estimates & Forecast by End User, 2024-2032
        2. Spain
    51. & Forecast by Product, 2024-2032
      1. Market Estimates & Forecast
    52. by End User 2024-2032
      1. U.K
        1. Market Estimates & Forecast,
    53. Asia Pacific
      1. Market Estimates & Forecast, 2024-2032
        1. Market
    54. Estimates & Forecast by Product, 2024-2032
      1. Market Estimates &
    55. Forecast by End User, 2024-2032
      1. China
        1. Market Estimates &
    56. Forecast, 2024-2032
      1. Market Estimates & Forecast by Product, 2024-2032
        1. Market Estimates & Forecast by End User, 2024-2032
        2. India
    57. & Forecast by Product, 2024-2032
      1. Market Estimates & Forecast
    58. by End User, 2024-2032
      1. Japan
        1. Market Estimates & Forecast,
        2. Rest
    59. of Asia Pacific
      1. Market Estimates & Forecast, 2024-2032
    60. Market Estimates & Forecast by Product, 2024-2032
      1. Market Estimates
    61. & Forecast by End User, 2024-2032
      1. Rest of the World
        1. Market
    62. Estimates & Forecast, 2024-2032
      1. Market Estimates & Forecast by
    63. Product, 2024-2032
      1. Market Estimates & Forecast by End User, 2024-2032
        1. The Middle East & Africa
        2. Latin
    64. America
      1. Market Estimates & Forecast, 2024-2032
        1. Market
    65. Estimates & Forecast by Product, 2024-2032
      1. Market Estimates &
    66. Forecast by End User, 2024-2032
    67. Company Landscape
    68. Company
    69. Profiles
      1. Sony Corporation (Japan)
        1. Company Overview
    70. Product/Business Segment Overview
      1. Financial Updates
        1. Key
    71. Developments
      1. Samsung Electronics Co. Ltd. (South Korea)
        1. Company
    72. Overview
      1. Product/Business Segment Overview
        1. Financial Updates
        2. Key Developments
      2. Motorola Solutions Inc. (U.S.)
        1. Company
    73. Overview
      1. Product/Business Segment Overview
        1. Financial Updates
        2. Key Developments
      2. Nokia Networks (Finland)
        1. Company
    74. Overview
      1. Product/Business Segment Overview
        1. Financial Updates
        2. Key Developments
      2. LG Corporation (South Korea)
        1. Company
    75. Overview
      1. Product/Business Segment Overview
        1. Financial Updates
        2. Key Developments
      2. Hewlett-Packard (U.S.)
        1. Company Overview
        2. Product/Business Segment Overview
        3. Financial Updates
    76. Key Developments
      1. HTC Corporation (Taiwan)
        1. Company Overview
        2. Product/Business Segment Overview
        3. Financial Updates
    77. Key Developments
      1. Apple Inc. (U.S.)
        1. Company Overview
    78. Product/Business Segment Overview
      1. Financial Updates
        1. Key
    79. Developments
      1. Dell Inc. (U.S.)
        1. Company Overview
    80. Product/Business Segment Overview
      1. Financial Updates
        1. Key
    81. Developments
      1. Gionee Communication Equipment Co. Ltd (China)
    82. Company Overview
      1. Product/Business Segment Overview
        1. Financial
    83. Updates
      1. Key Developments
      2. Micromax Informatics (India)
        1. Company Overview
        2. Product/Business Segment Overview
    84. Financial Updates
      1. Key Developments
      2. Videocon Industries Ltd.
    85. (India)
      1. Company Overview
        1. Product/Business Segment Overview
        2. Financial Updates
        3. Key Developments
      2. Acer Inc. (Taiwan)
        1. Company Overview
        2. Product/Business Segment Overview
    86. Financial Updates
      1. Key Developments
      2. Lenovo Group Ltd. (Hong
    87. Kong)
      1. Company Overview
        1. Product/Business Segment Overview
        2. Financial Updates
        3. Key Developments
      2. Blackberry
    88. Ltd. (Canada)
      1. Company Overview
        1. Product/Business Segment
    89. Overview
      1. Financial Updates
        1. Key Developments
    90. ZTE Corporation (China)
      1. Company Overview
        1. Product/Business
    91. Segment Overview
      1. Financial Updates
        1. Key Developments
    92. Conclusion
    93. Devices Market: By Region, 2024-2032
    94. Devices Market: By Country, 2024-2032
    95. Market: By Country, 2024-2032
    96. Market: By Country, 2024-2032
    97. Devices Market: By Country, 2024-2032
    98. Devices Market: By Country, 2024-2032
    99. by Product Market: By Regions, 2024-2032
    100. Devices by Product Market: By Country, 2024-2032
    101. Devices by Product Market: By Country, 2024-2032
    102. Connected Devices by Product Market: By Country, 2024-2032
    103. & Africa Smart Connected Devices by Product Market: By Country, 2024-2032
    104. By Country, 2024-2032
    105. by End User Market: By Country, 2024-2032
    106. Devices by End User Market: By Country, 2024-2032
    107. By Region, 2024-2032
    108. North America Smart Connected Devices Market, By Product
    109. Smart Connected Devices Market, By End User
    110. Devices Market, By Country
    111. By Product
    112. Asia-Pacific: Smart Connected Devices Market, By Country
    113. Smart Connected Devices Market, By Product
    114. Devices Market, By End User
    115. Devices Market, By Country
    116. Devices Market, By Product
    117. Devices Market, By End User
    118. Market, By Country
    119. Product
    120. Forces Analysis of Global Smart Connected Devices Market
    121. of Global Smart Connected Devices Market
    122. Devices Market in 2020, by country (in %)
    123. Market, 2024-2032,
    124. Connected Devices Market size by Product, 2020
    125. Connected Devices Market by Product, 2024 TO 2032
    126. Devices Market size by End User, 2020
    127. Devices Market by End User, 2024 TO 2032'

    Smart Connected Devices Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Smart Connected Devices Market Research Report - Forecast to 2032 Infographic
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