Amid the COVID-19 crisis, the global market for Ultra Mobile Devices (UMD) estimated at US$174.5 billion in 2020, is projected to reach a revised size of $241.2 billion by 2027, growing at a compound annual growth rate (CAGR) of 4.7% through 2027, according to Research and Markets.
Tablets, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach $68.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the laptops segment is readjusted to a revised 5.1% CAGR for the next 7-year period, according to Research and Markets.
The Ultra Mobile Devices (UMD) market in the U.S. is estimated at $51.4 billion this year, adds the research group. China, the world’s second largest economy, is forecast to reach a projected market size of $42.5 billion by the year 2027 trailing a CAGR of 4.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.