Rugged IC Market to garner USD 670 Million with over 6% CAGR during 2021-2025: Technavio
NEW YORK, March 25, 2021 /PRNewswire/ -- The rugged IC market is expected to post a CAGR of over 6% during the period 2021-2025, according to the recently published market research report by Technavio. This report offers a detailed analysis of key factors responsible for the current and potential growth of the market. Furthermore, it provides extensive, value-driven data insights pertaining to rugged IC market aiding customers to make informed business decisions.
Prominent Takeaways from this Report
View Technavio's 120-page research report with ToC on "Rugged IC Market by Application (rugged mobile computers, rugged tablets, rugged scanners, and rugged air quality monitors), Geography (North America, Europe, APAC, South America, and MEA) and Vendor Forecasts, 2021 - 2025"
Rugged IC Market: Driver and Trend Analysis
Ruggedized computers are gaining traction among the consumers and end-user industries such as medical sector and logistics industry for the maintenance of vehicles. In addition, robots with ruggedized computers and embedded boards equipped with rugged ICs are increasingly being deployed in mission-critical applications of the defense sector. Thus, with rising deployment of ruggedized computers across several critical industrial applications, the demand for rugged IC will surge in the forthcoming years.
There have been several investments in the development of smart cities across the globe. The infrastructure in a smart city is integrated with IoT devices and communication technologies. This has further led to the increased development and utilization of MPUs in several applications, which, in turn, will drive the rugged IC market growth during the forecast period.
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Rugged IC Market: Segmentation Analysis
This market research report fragments the global rugged IC market by application (rugged mobile computers, rugged tablets, rugged scanners, and rugged air quality monitors), geography (North America, Europe, APAC, South America, and MEA).
The rugged mobile computers segment held the largest rugged IC market share in 2020 due to increased technological advances in the consumer-grade device sector. The rugged mobile computer segment is mainly dominated by semi-rugged devices, followed by fully rugged devices. Furthermore, the launch of new rugged products for military and defense applications will propel the demand for rugged ICs in this segment during the forecast period.
In terms of geographical analysis, 36% of the market's growth will originate from North America during the forecast period. The growth of the defense sector in the US is prominently driving the rugged IC market growth. The growth of the oil and gas industry also drives the market growth in the region due to an increase in oil and gas production in the US. In addition, the market vendors are also focusing on ruggedized routers that can be used to establish communication between different ruggedized smart devices in a harsh environment, in turn, boosting the rugged ICs market demand in the region
Rugged IC Market: Vendor Analysis
The rugged IC market is highly competitive and fragmented. Several players in the market striving to provide superior products by differentiating them either based on quality or service. Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play and industry-focused players to offer effective investment opportunities and allow clients to make informed decisions. Prominent rugged IC market players include:
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Rugged IC Market 2021-2025: Key Highlights
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