Mobile Leads The Way As Rugged Electronics Market Sees Growth
Poised to more than double its market value in the next eight years, the rugged electronics sector is growing exponentially and is forecasted to see a 9.6% CAGR until 2024.
According to a new report from Transparency Market Research, the rugged electronics market, which posted a $11.4 billion value in 2015, is expected to reach a value of $26 billion by 2024, and will be lead by industrial computing and hand-held devices. “The industrial computing and hand-held devices segment will also expand at the fasted pace over the course of the forecast period, reporting a 10% CAGR,” the report stated.
The rugged electronics market is fueled by the defense sector as the primary end-user, with North America as the lead geographic market, followed by Asia Pacific, the report said.