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From Smart Rings to Solar: The 18 Fastest Growing Device Markets of 2025

Fast-growing device markets reflect the global shift toward electrification and smarter tech.

Author

Peter Cooney
April 17, 2025 • Estimated Reading Time: 5 minutes

DATAportl now tracks more than 170 different electronic device types, with several new ones added recently, from heat pumps to karaoke systems. Clearly, out of so many devices we have winners and losers as far as growth is concerned. 18 device types are expected to grow more than 20% year-on-year in 2025.

Some are small, nascent markets such as Smart Rings and Delivery Drones, many others are well established markets that are growing due to electrification such as BEV Passenger cars and Scooters. The chart below shows the total view and we’ll dive into some specific markets below:

Electrified Mobility

DATAportl cover 15 different types of mobility devices from cars to boats, and tracks the transition to electrification for all of them. 8 of the top 18 fastest growing device markets in 2025 are from this segment.

Overall the electric mobility segment is forecast to grow at a CAGR of 13.1% from 2024 to 2030, with more than 1 billion devices shipped in that time period.

We cover this in more details in these posts:

The Passenger Car Market: A DATAportl Summary

Almost 80% of new passenger cars will be electrified in some way by 2030, including BEV, PHEV and MHEV.

www.dataportl.com/p/passenger-cars

Scooters Go Electric: A Revolution on Two Wheels

The shift to electric scooters is speeding up, by 2029, more than 50% of scooters sold globally will be electric.

www.dataportl.com/p/scooters-go-electric-a-revolution-on-two-wheels

Consumer Markets

While many consumer markets are huge and see little growth, there are a few newer markets that are still seeing fast growth, 4 out of the top 18 fall into consumer device segments such as wearables.

The overall wearables market is forecast to see a small fall over the next 5 years but see almost 7 billion devices shipped. Fast growing wearables markets include Smart Rings, Extended Reality Headsets, and DTC/OTC Hearing Aids.

The Rise of Smart Rings: The Next Big Wearable?

Smart rings are quickly becoming a major trend in wearable technology, with a recent surge in popularity.

www.dataportl.com/p/the-rise-of-smart-rings-the-next-big-wearable

Renewable Home Energy

The overall renewable home energy market is heavily influenced by country specific politics and incentives and is therefore subject to fluctuations in growth, however the segment has seen strong growth over the last 5 years, particularly due to rapidly falling prices for devices such as solar panels and batteries.

2 device types made into the top 18 fastest growing markets in 2025: Solar Inverter - Residential, and Energy Storage System - Residential.

The overall renewable home energy market (as tracked by DATAportl) is forecast to grow at a CAGR of 8.9% from 2024 to 2030, and account for more than 700m devices/systems shipped in that time period.

See the following for more details:

The Rise of Home Batteries: A Market on the Move

14 million home batteries have shipped in the past five years, with over one-third of global solar installations now including battery storage.

www.dataportl.com/p/the-rise-of-home-batteries

Solar Powers Ahead in 2024: Over 400 GW Added!

Over 400 GW of solar capacity was added globally in 2024, representing a 22% increase compared to 2023.

www.dataportl.com/p/solar-powers-ahead-in-2024

The Global Heat Pump Market: Installations by Region

Nearly 80 million residential heat pumps were installed globally between 2019 and 2024.

www.dataportl.com/p/the-global-heat-pump-market

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