The global tablet market is expected to proliferate over the next six years on account of the growing demand for tablets in various sectors. Tablets offer attractive design and portability along with a flexible screen, which is expected to fuel the market. Additionally, miniaturization, longer battery life, and gesture recognition are projected to impel the market growth over the forecast period High-performance speed, and ease of usability are some of the features expected to accentuate the market. Tablets can be used as a GPS navigation device and offer the same functionality as a normal computer closely followed by quick navigation through touch screen or stylus in comparison to a mouse or keyboard. The flat design of a tablet makes it easier to display presentations and work on any surface, which is further anticipated to positively impact market growth over the next six years.
However, high prices, poor input speed, and weak video capabilities are expected to hinder market growth over the forecast period. Further, smaller display, lack of keyboard, potential screen damages, and high repair costs are some of the other factors that may curb market growth.
Tablets face increased competition from an array of electronic devices such as smartphones, phablets, dedicated gaming devices, and connected TVs acting as a challenge for the tablets market. Tablets face major competition from phablets as they are handy and contain additional features as compared to tablets, which are projected to render as restraints to the demand for tablets over the next six years.
Key drivers expected to aid the tablet market include the escalation in the need for mobile applications among consumers due to improved internet connectivity, which offers lucrative opportunities for the market. Increasing demand for tablets in corporate, hospitality, healthcare, education, retail, media, and entertainment sectors is further projected to amplify market growth.
Tablet market can be segmented on the basis of types into a hybrid, convertible, slate, and rugged tablets. Hybrid tablets are a combination of a laptop and a tablet that has a removable screen, which turns into a tablet when separated. Rugged tablets are built with a shock-mounted internal hard drive and protective shield that can handle sudden drops.
Emerging technology trends in the market such as the development of retina display tablets, kindle, and waterproof tablets are expected to significantly boost market growth over the forecast period Retina displays have a high resolution and pixel density, which enhances the image and color quality along with displaying more information on the screen. Tablets work on various operating systems such as Android, iOS, Linux, and Windows adopted by different companies.
The tablets market can be categorized into premium, middle, and lower ranges. Various emerging companies are focusing on delivering tablets at minimum costs coupled with advanced features.
Asia Pacific is expected to be the dominant regional market over the forecast period owing to the technological advancements in emerging markets such as China, India, and Japan. Changing consumer preferences along with increased disposable income in regions of India and South Korea are further expected to compliment the Asia Pacific market. North America is projected to be an emerging region for the market.
Key players in the tablet market include Apple, ASUS, Samsung, Lenovo, Google, Acer, Amazon, Google, Microsoft, Huawei, Lenovo, HP, LG Electronics, and Motorola Mobility. The market is dominated by Apple and Samsung as they capture more than half of the market share followed by Lenovo and Asus slowly creeping up the market share. Japanese manufacturers owing to their technologically advanced processes are targeting the upper-end markets, while various companies have been diverting their focus to Asia Pacific region owing to its low production and labor costs.
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The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.