Astute Analytica reports that the global U.S. Smart e-cigarette Market size will grow from US$ 364.7 Mn in 2021 to US$ 2,664.9 Mn by the end of 2027. The global market will record a tremendous compound annual growth rate (CAGR) of 34.6% during the study period, i.e., 2022-2027.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the U.S. Smart e-cigarette Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analyzing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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Factors Affecting the Market
Technology is maintaining a vital place across all industrial verticals, including healthcare, automotive, construction, etc. Companies leverage cloud and service-based services to propel innovation and bring significant revolution. Thus, it will drive the growth of the global U.S. Smart e-cigarette Market during the forecast period.
Growing investments in this market are expected to boost the growth of the overall market. For instance, the US Federal Government set aside $58.4 billion budget for IT at civilian Federal agencies in 2022, which is an increase of 2.4 percent from 2021.
COVID-19 Impact Analysis
The COVID-19 outbreak forced many organizations to adapt to digital methods, which rapidly accelerated digital transformation. Work environments changed abruptly as remote work became the new normal among organizations. As a result, it is forecast to strengthen the potential scope of the U.S. Smart e-cigarette Market in the coming years. This report by Astute Analytica covers all the factors depicting the impact of the pandemic.
A Look at the Competitors in the US Smart E-Cigarette Market
Many regional, and local vendors are present in the US smart e-cigarette market. The regional market is modestly competitive, with all the players competing to gain significant market share. Pax Labs, DaVinci Vaporizer, Illest Vapes, Joyetech Group, Xvape, Juul Labs, Storz & Bickel, RELX, Reynolds American Inc. (RJRVC), Shenzhen IVPS Technology Co. Limited (SmokeTech) and VANDY VAPE among others are some major players present in the US smart e-cigarette market. Companies are adopting various key strategies to adopt a significant foothold in the market. Some of the key strategies are product launches, advancements, mergers and acquisitions, approvals, and many more.
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Segmentation Overview of the U.S. Smart E-Cigarette Market
- U.S Smart e-cigarette Market Segments
By Type Segment of the US Smart E-Cigarette Market is Sub-Segmented into:
- With screen
- Without screen
By Distribution Channel Segment of the US Smart E-Cigarette Market is Sub-Segmented into:
- Online
- Offline
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Regional Analysis
North America is forecast to emerge as the largest shareholder in the global U.S. Smart e-cigarette Market in terms of revenue. The growth of the market is attributable to various factors, including early adoption of advanced technology, growing investments in the sector, and rising infrastructural development. Furthermore, the Asia-Pacific market for Information Technology will also grow steadily due to growing spending by government bodies. Additionally, increasing initiatives to improve infrastructure will also drive the market forward.
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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