Global Explosion Proof Mobile Devices Market: An Overview
In a world that is consistently advancing towards becoming more technologically equipped, possessing a mobile device has become a normal activity. Mobile phones are a necessity to have as they help us in communicating easily, something that was one of the world’s most problematic limitation before the invention of the telephone. Smartphones are portable, make life simpler, and are borderline addictive if used for a long time.
But everything has its own disadvantages, and cellphones are not far behind. National Accident Helpline, a UK based national injury company conducted research in 2015 on the number of smart-phone related injuries that happen throughout the world. Around 41 percent of people reported a smartphone-related injury that they encountered while using a phone. The internet is also filled with news reports about people suffering from fatal injuries due to mobile phone explosions. These are some of the reasons which have given birth to the necessity for explosion proof mobile devices market.
According to experts at IndustryARC, the explosion-proof mobile devices market size, as of 2018, was between $400 million to $450 million. During the forecast period of 2019-2025, the market is also expected to grow steadily with a standard CAGR of 7%-8%.
Global Explosion Proof Mobile Devices Market: Drivers
The explosion-proof mobile devices will continue to grow because of its strong drivers that fuel the market’s necessity. Several trends will drive the market growth in a positive direction, and help it achieve better targets. It is almost imperative to own devices like a smartphone, laptop, tablet, and the absolute compulsion for owning a phone that does not explode or cause us any damage has become the need of the hour.
- Mobile Phones Have Become An Addictive Accessory
Almost everyone owns a mobile phone in the current global scenario. It is supposed to be one of the most important assets to have. According to an online study of 409 people conducted by US National Library of Medicine National Institutes of Health, around 64.3% of the study participants use the mobile phone for an hour and the rest use it for more than an hour. Approximately 36 percent of the people developed a habit of checking phones while they were asleep whereas, 27.1% felt inconvenience with mobile phone use. The study concluded that people were aware of the harmful radiations and other side effects of mobile phones. Yet, most of the people found it hard to give up the usage and became addicted to the phones given to them. This becomes a strong market driver for explosion proof mobile devices market as it mandates the use of phones, and establishes that the demand for the devices will only grow and not become stagnant.
- Companies Are Capitalizing On Mobile Phone Users
Most businesses are basking on the growing popularity of mobile phone usage amongst people of all ages. According to Forbes, around 3.7 billion people, almost one half of the world population owns a mobile phone. Pew Research also concluded that 95% of the Americans owned a mobile device. Most businesses exist online, and transactions between a customer and the billers take place mostly on a mobile device. Customers are demanding companies to switch to an online platform where they can have access to the products on the touch of a button. This acts as an esteemed market driver and helps the market earn more revenue.
Explosion proof mobile devices market will experience a relatively better growth because of the growing popularity and compulsion of owning a mobile phone. Companies are striving to accentuate their online presence as more and more customers switch to online shopping, and transactions. The time is not far away when we will see safer phones in the market which will reduce hazardous injuries caused to the people.
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