Smart Hardware ODM Market to Grow Significantly by 2032 Driven by Rising Demand for Industrial Automation and IoT Integration | S&S Insider
The Smart Hardware ODM market is seeing significant growth, driven by the rapid advancement of industrial automation and the increasing integration of IoT technologies.
Austin, Nov. 11, 2024 (GLOBE NEWSWIRE) — Market Size & Growth Analysis:
The Smart Hardware ODM Market is quickly changing due to technological advancements and the growing incorporation of IoT and automation in industrial and medical electronics. In 2023, close to 88% of car purchasers conducted online vehicle research, dedicating an average of 14 hours, highlighting the increasing significance of digital platforms in consumer decision processes. Smart hardware ODMs play a vital role in the advancement of smart sensors, robotics hardware, and IoT-enabled devices for improved operational efficiency and data-based decision-making in industrial settings. These intelligent gadgets can connect to central systems to track performance, forecast maintenance, and minimize downtime, enhancing overall productivity. With these advancements, the Smart Hardware ODM Market remains crucial in shaping industrial and consumer technology’s future.
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Dominant Market Players with their Products Listed in this Report are:
- Foxconn Technology Group (iPhone, iPad)
- Quanta Computer (Laptops, Servers)
- Compal Electronics (Laptops, Tablets)
- Wistron Corporation (Smartphones, Laptops)
- Pegatron Corporation (Gaming Consoles, Smartphones)
- Inventec Corporation (Laptops, Smartphones)
- Flextronics International (Wearable Devices, Smartphones)
- Arima Communications (Smartphones, Tablets)
- Harman International (Car Audio Systems, Wearables)
- ZTE Corporation (Smartphones, 5G Infrastructure)
- Huawei Technologies (Smartphones, Wearables)
- Samsung Electronics (Smartphones, Smartwatches)
- Lenovo Group (Laptops, Tablets)
- ASUSTek Computer Inc. (Laptops, Motherboards)
- Acer Inc. (Laptops, Tablets)
- TCL Corporation (Smartphones, TVs)
- LG Electronics (Smartphones, Smart Appliances)
- Pioneer Corporation (Car Electronics, Home Audio Systems)
- Jabil Inc. (Smartphones, Wearables)
- Roku Inc. (Streaming Devices, Smart TVs)
“Segment Analysis: Uncovering Critical Growth Areas in the Competitive Market Landscape”
By Type: In 2023, Industrial Hardware ODMs dominated the market, holding over 55% of the share. The rapid uptake of smart hardware solutions has been driven by the increasing demand for IoT-enabled devices and the expansion of industrial automation and digitization. Customizing technologies for specific industrial needs has been crucial for Industrial Hardware ODMs to maintain their market dominance.
By Application: In 2023, the industrial electronics sector led the market with over 35% market share, buoyed by the rise of Industry 4.0, automation, and IoT incorporation. ODMs have concentrated on creating personalized solutions for industrial uses, such as control systems, monitoring devices, and automated machinery. Foxconn and Pegatron are top companies supplying advanced electronic modules and control units, enabling the smooth incorporation of smart technologies in industrial processes, speeding up digital transformation in manufacturing.
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Key Market Segments:
By Type
- Electronic Hardware ODM
- Industrial Hardware ODM
By Application
- Consumer Electronics
- Industrial Electronics
- Vehicle Electronics
- Medical Electronics
- Others
“Regional Market Spotlight: Analyzing Performance and Prospects Across Key Regions”
In 2023, North America led the smart hardware ODM market, capturing over 35% of the market share due to high adoption rates of connected devices, smart home technology, and an advanced IoT infrastructure. The area experiences advantages from a strong technological environment and substantial consumer expenditures on new gadgets, driving the need for original design manufacturers (ODMs) to manufacture hardware. Furthermore, partnerships with leading tech firms speed up the development and incorporation of cutting-edge technologies, strengthening North America’s dominance in the market.
Europe is expected to see substantial growth from 2024 to 2032 in the smart hardware ODM market, driven by rapid IoT adoption and government support for smart city initiatives. European nations’ emphasis on sustainability is increasing the market for energy-efficient smart gadgets. Companies like Smartrac N.V. and Harman International supply hardware for industries such as medical electronics and home automation in Europe, with a focus on environmentally friendly technology.
Recent Developments in the Smart Hardware ODM Market:
| Date | Company | Product Launch/Development |
| Oct-24 | Cable-Tec Expo | unveiled a new sales model for channel partners and Original Design Manufacturers (ODMs) today. |
| Aug-24 | USB | The USB Implementers Forum (USB-IF) announced today the introduction of the USB-IF Conformity to IEC 62680 (USB) Specifications Program, which aims to promote and implement USB technology. |
| Sep-23 | Videotex | Videotex, a reputable manufacturer of LED TVs in India for the last forty years, has reached an important goal in the Indian market. The company has grown to be one of the leading producers of webOS Hub TVs, securing a market share exceeding 85%. |
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Future Trends:
- Integration of AI and Machine Learning: Smart Hardware ODMs are likely to harness AI and machine learning algorithms to improve the capabilities and performance of their IoT devices. This will enable predictive maintenance, improve decision-making in real-time, and better operational control.
- Expansion of Smart Manufacturing Solutions: Industries are moving towards Industry 4.0, which will entail greater innovation in industrial hardware ODMs based on the demand for smart manufacturing solutions, including developments in robotics, automation, and machine-to-add machine communication.
- IoT-enabled Consumer Devices: The consumer space will continue to push for greater connectivity and intelligence in consumer products. Smart Hardware ODMs will target innovative products such as wearable devices, home automation products, and energy-efficient consumer electronics to meet the increased demand for smart homes and personal well-being.
Table of Contents – Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Pricing and Revenue Metrics
5.2 Technology Adoption Metrics, by Region
5.3 Environmental and Compliance Metrics
5.4 Demand and Supply Chain Insights
6. Competitive Landscape
7. Smart Hardware ODM Market Segmentation, by Type
8. Smart Hardware ODM Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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