Global Rugged Equipment Market - Increase in Military Expenditure Promotes Growth | Technavio

Technavio has published a new market research report on the global rugged equipment market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global rugged equipment market is expected to grow at a CAGR of close to 3% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global rugged equipment market by product (rugged computer systems and rugged displays) and by end-user (military and defense, aerospace, and industrial). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: global increase in military expenditure

The world's expenditure for the military sector increased in 2016, especially in the US and Europe. But, it declined in oil extracting countries. The expenditure increased by 0.4% in 2016 when compared with that of 2015. The military and defense expenses are determined based on the economic and political scenario of a country.

According to a senior analyst at Technavio for embedded systems research, “The US usually has the highest military expenditure, and the country increased its military spending by 22% in 2016. This amounts to 36% of the global total and over three times the amount spent by second-placed China. Russia increased its outlay by nearly 6%, placing it in the third position in the global military expenditure. India moved from seventh place to fifth place in the largest military spending countries list after its largest annual spending increase since 2009.”

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Market trend: incorporation of the Internet of things (IoT) in rugged equipment

The rugged equipment is expected to support the internet of things (IoT). These rugged devices are used in harsh environments, particularly in military and defense and industrial settings. The emerging technologies are set to change the way these end-users operate over the next decade. IoT is one of them, leading the way in bringing about positive change in industries. IoT is the connection of objects such as computing machines, embedded devices, appliances, and sensors to the Internet. The rugged equipment is equipped with IoT to improve productivity and communication. The technology comprises connecting equipment, fleet, and people based on radio frequency identification device (RFID) and sensor technologies.

Market challenge: high initial cost of procurement compared with non-rugged devices

Rugged equipment is nearly twice as expensive than commercial equipment regarding procurement. But, the total cost of ownership for rugged equipment is lesser. Consumer grade products may seem to be more attractive for enterprises and businesses for their computing needs due to the initial low cost of acquisition. However, one can do a simple analysis on the total cost of ownership (TCO) to reveal that consumer grade products can end up costing the enterprise and business much more.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global rugged equipment market is expected to grow at a CAGR of close to 3% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com