Rugged Electronics Market: Snapshot
Rugged electronics are a specific class of electronics designed to work in harsh environments; they can withstand dust, drops, vibrations, and extreme temperatures. Growth in the usage of rugged electronic devices in the defense sector worldwide and their widened application areas are some of the reasons that are expected to drive the global rugged electronics market in the coming years.
The additional value they provide in the form of their durability and low downtime is expected to enhance the market’s growth prospects. However, the market is anticipated to be hindered by the low order quantity from individual end users. Moreover, the high cost of rugged electronics in comparison to the benefits of client customization is also expected to be a major restraint to the growth of the global rugged electronics market.
According to Transparency Market Research, the global rugged electronics market is expected to reach US$17.46 bn and is projected to expand at a CAGR of 8.1 % during the period from 2017 to 2025. The market was valued at US$9.4 bn in 2017.
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Industrial Computing and Handheld Devices Lead Demand for Rugged Electronics
The global rugged electronics market is segmented on the basis of product type and end user. On the basis of product type, the global rugged electronics market is segmented into industrial computing and handheld devices, tracking devices, hardware components, and others (security cameras, rugged drones, and rugged sensors).
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The industrial computing and handheld devices segment is expected to contribute a major share in the global rugged electronics market owing to their increasing adoption in an array of industries such as defense, power, transportation, and adventure sports. This segment is also expected to surface as the fastest growing segment based on product type. Industrial computing and handheld devices is expected to be followed by hardware components segment in the global rugged electronics market.
Europe is expected to follow North America in terms of market share owing to growing awareness and presence of local industry players. Europe is expected to be followed by Asia Pacific in terms of market share. Growth of the Asia Pacific rugged electronics market is accountable to countries such as China, Japan, and India, while South East Asian countries have also contributed substantially to the region’s growth. The region is expected to overtake Europe based on market share in the later years of the forecast, with the Asia Pacific rugged electronics market’s 8.5% CAGR projected to lead it to a revenue valuation of US$3.93 bn by 2025. The Europe market for rugged electronics, valued marginally higher than APAC in 2017, is likely to end up at close to US$3.8 bn by 2025, exhibiting a solid 7.2% CAGR therein.
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Growing Need in the U.S. Drives North America Rugged Electronics Market
The global rugged electronics market is expected to be driven by the North America region. North America is estimated to contribute a major share in the overall rugged electronics market with the U.S. providing most of the revenue. The presence of major industry players, along with the adoption of rugged electronics solutions by various industry verticals, is expected to drive the market in the region. The region is also expected to emerge as the fastest growing among all regions. The North America rugged electronics market, valued at close to US$3.5 bn in 2017, is likely to rise to close to US$7.2 bn by 2025 at a robust 9.6% CAGR therein.
