Devices - Luxembourg

Luxembourg

Revenue in the Devices market is projected to reach US$140.60m in 2024.
Telephony dominates the market with a projected market volume of US$85.43m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.23%, resulting in a market volume of US$141.90m by 2028.
In global comparison, most revenue will be generated in China (US$150bn in 2024).

Key regions: United States, Brazil, Mexico, China, India

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Analyst Opinion

Devices is one of the biggest IT markets in terms of revenue. It is shaped by various trends, e.g., cloud adoption, 5G or big data, as well as an increasing need of companies and consumers for flexibility and mobility. While digitization progresses, hardware devices are constantly adapted to the up-to-date standards. That is why the Devices market recovers relatively quickly after economic downturns as e.g. seen after the financial crisis of 2008. The strive for innovation powers and restores the whole market.

Methodology

Data coverage: The data includes business spending (B2B), consumer spending (B2C), and government spending (B2G). The revenue is allocated to the country in which the money is spent at the manufacturer price level (excluding VAT). Modeling approach: Modeling is carried out by implementing a top-down approach with a bottom-up validation. By applying advanced statistical methods, forecasts are made based on historical developments, current trends, and key market indicators. The main drivers are the GDP, the level of digitization, and consumer attitudes toward device usage (e.g., “bring-your-own-device culture:” the use of personal devices for work purposes). The data is modeled in USD using current exchange rates; for the conversion of data from/into local currencies, real exchange rates are used. Further information: Updates are made twice a year if market dynamics change. COVID-19 is considered using country-specific factors.