The global intelligence devices market is expected to grow at 14.67% CAGR during the 2021-2028 period. Despite the covid-19 pandemic, and growing restricts, the investment in technology continues to pour in globally. The investment climate has even soared to new heights in regions like Asia Pacific, as benefits like automation, and growing threat to mass production in industries like food production is shifting manufacturers to include more technology in production. The growing demand for intelligent devices, and supporting technologies like machine learning, and AI will drive robust growth for the global intelligent devices market.
Demand for Software to Remain Robust as New Engineering Research Proves Costly
Growing demand for automated devices, and increasing demand for supporting software remains the key highlight for growth in the global intelligent devices market. The demand for software remains far more robust as compared to new hardware. The hardware segment still holds the highest revenue share by product type. However, the CAGR of software segment remains a step ahead like it did in 2018. This is likely due to the low costs of development in software, as compared to its rewards, and potential for mass application. The success rate for software remains more promising, with predictable models for cost analysis. While the costs of hardware with unpredictable R&D still remain a major concern, as despite the promising application, the success is often not guaranteed. The growing demand for software solutions across a wide range of sectors like banking, manufacturing, agriculture, and others also remains a promising draw for growth for players in the intelligent devices market. The service segment remains the most promising for new players, as unlike the hardware and software segment, it can be a low-key affair in terms of costs, lowering barrier, and promising potential entry to new players across the globe. Furthermore, growing erosion of loyalty, and increasing need for quality customer care also promises new opportunities for small players in the intelligent devices market.
Market segment by Type, covers
Market segment by Application can be divided into
The key market players for global Intelligence Devices market are listed below:
Alchemy API Inc.,
Narrative Science Inc.
Market segment by Region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Credible Markets has emerged as a dependable source for the market research needs of businesses within a quick time span. We have collaborated with leading publishers of market intelligence and the coverage of our reports reserve spans all the key industry verticals and thousands of micro markets. The massive repository allows our clients to pick from recently published reports from a range of publishers that also provide extensive regional and country-wise analysis. Moreover, pre-booked research reports are among our top offerings.
Credible Markets Analytics
99 Wall Street 2124 New York, NY 10005
Contact No: +1(929)-450-2887
Email: [email protected]