As consumers favor technology that allows them to work from home, shop and interact online, manage home security, energy consumption and video streaming, the need for a strong network and supply chain to distribute content and services is growing.
According to the new analysis, Global Analysis of the Future of Connected Devices and Impact on Electronics Supply Chain Participants, the market shipped over 6.06bn units in 2011 and it has been estimated that this will reach 9.29bn units by 2016.
"The proliferation of smartphones and the acceptance of their capability to connect to a television and function as a smart TV are other factors for the growth of connected devices. Operators will look to partner with OEMs for design collaboration, as well as strategic research and development," said Nupur Sinha, research analyst, Frost & Sullivan.
The report also states that connected devices are evolving fast with the use of embedded sensors and chips, requiring equipment and component manufacturers to keep pace with these advancements. Because of this, manufacturers prefer to partner with mobile operators who offer flexibility to consumers.
Consumer awareness of what is possible in terms of connected devices is expected to increase as most smart devices enter the market.
