USD 510.04 million
Report ID: SQMIG25AF2002 | Region: Global | Published Date: April, 2023 | Pages: 260 | Tables: 93 | Figures: 75
North American Calculators Market size was valued at USD 510.04 million in 2021 and is poised to grow from USD 519.73 million in 2022 to USD 615.67 million by 2030, growing at a CAGR of 1.9% in the forecast period (2023-2030).
A calculator is a gadget that performs arithmetic operations using numbers. Calculators that perform addition, subtraction, multiplication, and division are the simplest conceivable. Calculators with greater sophistication can handle exponential operations and hyperbolic functions, as well as roots, logarithm, and trigonometric functions are also known as scientific calculators. Consumers utilize calculators as a tool to solve mathematical and computational problems. Calculators enable children to solve problems and appreciate the power and significance of mathematics, eliminating the tedious computation and algebraic manipulation that deter a substantial proportion of learners. These are some of the major factors driving the demand for calculators and are propelling the North American calculator market throughout the analysis period.
US North American Calculators Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 510.04 million
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The North American Calculators Market is segmented based on type, power source, application, and region. Based on type, the North American Calculators Market is segmented into basic, scientific, printing, and others. Based on the power source, the North American Calculators Market is segmented into the electric, battery, and solar. Based on industry, the North American Calculators Market is segmented into the engineering sector, finance sector, education sector, IT sector, and other sectors. Based on region, the North American market is segmented into US and Canada.
North American Calculators Market Analysis by Type
In 2021, the scientific calculator segment accounted for the major market share in the north American calculator market and basic calculators are predicted to show steady growth during the analysis period. Advanced calculators, such as scientific, graphing, and financial calculators, are necessary for financial analysts, scientists, students, and teachers that require immediate and error-free responses while the basic calculators are used for household or domestic basic arithmetic purposes.
The printing calculator is expected to show the fastest growth in the region due to its dynamic functionality of providing a print statement for the calculations computed and its wide use in the different large, small, and medium stores. These are some of the major factors that would propel the demand for calculators in the North American region.
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In terms of revenue, the US accounted for the major market share for the calculators in the North American region. Home to large financial companies and major scientific research and development activities in the region aid to this dominance in North America. With the increasing use of calculators in financial computational problems, the US market is predicted to see tremendous growth during the analysis period. Literacy rates in US and Canada are also some of the major reasons for the awareness and use of calculators for various computational functions in the region. These are some of the factors that are expected to propel the demand for calculators in the region and drive the North American market growth during the forecast period.
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North American Calculators Market Driver
The introduction of multipurpose calculators is driving the demand for calculators in the region.
North American Calculators Market Restraint
Development in technology and the increasing use of smartphones and personal computers that provide inbuilt calculator applications are some of the major restraints.
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The North American calculator market is relatively fragmented, with a high level of competition. Few large players, like Casio Computer Co. Ltd, Canon USA Inc, and Texas Instrument Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
North American Calculators Market Top Player’s Company Profiles
North American Calculators Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, A calculator is a gadget that performs arithmetic operations using numbers. The North American Calculators Market is segmented based on type, power source, application, and region. In 2021, the scientific calculator segment accounted for the major market share in the north American calculator market. Based on industry, the market is divided into the engineering sector, finance sector, education sector, IT sector, and other sectors. The US accounted for the major market share for calculators in the North American region. The printing calculator is expected to show the fastest growth in the region due to its dynamic functionality of providing a print statement for the calculations computed. Literacy rates in US and Canada are also some of the major reasons for the awareness and use of calculators.
|Market size value in 2021||USD 510.04 million|
|Market size value in 2030||USD 615.67 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the North American Calculators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the North American Calculators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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