According to a recent report published by Fast Market Research, titled, Docking Station Market 2018: Market Value, Trends, Opportunity, forecast 2018-2024, “the global Docking Station market accounted for USD XX Million in 2018 and is estimated to reach USD XX Million by 2024. Moreover, it is anticipated to flourish at a CAGR of XX% during the forecast period i.e. 2018-2024.
The docking station market reached USD 1,494.8 Million in 2018. The global docking station market is expected to witness a CAGR of 5.6% over the forecast period. The growing popularity and increasing use of portable device among consumers has resulted in the increased demand for the docking stations. Moreover, docking stations are expected to witness a robust growth owing to its multi-functional properties such as audio input and output, ranging USB ports and Ethernet connectivity. Moreover, rapidly growing IT industries across the globe is creating upsurge demand for computer and accessories. This factor is expected to impel the growth of global docking station market.
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Market Insights
Growth Drivers – Docking Station Market
Increasing Penetration of Mobile Devices
Mobile devices such as smartphones and tablet have gradually entered people everyday life. With this increasing penetration, the number of devices per person has also increased over the years. We are also increasingly mobile in our working lives and most of us carry at least three devices to stay productive. The consumers across the globe are stoutly adopting every positional technology that can improve their lives and increase their productivity. Since docking station allows consumers to connect and power their devices easily, the docks adoption rate is growing significantly and is expected to remain ideal in the future.
Rising BYOD Trend
Bring-your-own-device (BYOD) policies have become common within enterprise organizations and are likely to continue with its exponential growth in popularity in upcoming years. Bring-your-own-device (BYOD) trend is being accepted into almost every industries such as IT, healthcare, education, and manufacturing. Owing to this BYOD trend, the number of devices in workplaces are also increasing. BYOD is already a global phenomenon to some extent, being well established in the US and Europe, but 2018 could well be the year that it spreads beyond early adopters in APAC and LATAM countries. The docking stations are Ideal for BYOD or CYOD work environments since they can reduce the problem related to a bunch of cords and offer a clean and ideal working environment to the employees.
Growing Number of Office Spaces
Docking stations are ideal solutions for the workspaces as they offer more convenience to the employees. Docking stations are perfect solutions for travel stations used for rotating employees, guests or visitors. Other advantages of docking stations such as clean, clutter-free workspace, space-saving, and increased workstation productivity are fueling the adoption rate of the docking station in office spaces.
Barriers – Docking Station Market
Growing Demand for Wireless Technologies
The growth of the wireless industry and the effects it has on consumers lives is a result of the increased demand for wireless connectivity by consumers. The growing popularity of wireless technologies is also limiting the demand for cord powered technologies, which in turn expected to restrict the growth of docking station market in future.
Market Trends – Docking Station Market
New Product Launch
Within the overall robust consumer electronics industry, innovation takes many shapes. From the newer, more efficient and high-speed data transfer technologies, to an innovative design that makes product adherence less burdensome, to the adoption of portable and thin computers that are reshaping global computer accessories consumption, there is no dearth of inspiration for successful new launches. In January 2018, Lenovo launched of Thunderbolt 3 Graphics Dock with inbuilt GTX 1050 GPU.
Segmentation Analysis
The docking station type market is segmented into the laptop docking station, HDD docking station, and others. In this segment, the laptop docking station segment is anticipated to capture the largest market share in 2024. The increasing number of enterprises and rapidly increasing adoption and trade of laptop across the globe is substantially benefiting the docking station market. In 2017, laptop sales increase to 161.6 Million Units as compared to 156.8 Million Units in 2016. Further, it is believed that laptop market volume sales will reach 165 Million Units in 2022. This factor is expected to supplement the growth of global docking station market in the upcoming years. Over the five years to 2024, laptop docking station market is forecasted to increase to a market value of USD 1,525.6 Million from USD 1,085.2 Million in 2018. Moreover, laptop docking station market revenue is anticipated to rise at a compound annualized growth rate of 5.9% over the five years to 2024.
In the connectivity segment, the docking station market is sub-segmented into USB 3.0, USB C, WiGig, Thunderbolt 2, Thunderbolt 3, and others. In this segment, the USB 3.0 segment is expected to grow at CAGR of 3.2% during the projected period. The global docking station market for USB 3.0 segment is expected to reach USD 930.6 Million by the end of 2024.
Moreover, based on the distribution channel, the docking station market is further sub-segmented into online stores and offline stores. In this segment, offline stores segment is expected to grow at a CAGR of 5.2% over the forecast period i.e. 2019-2024. The global docking station market for offline stores segment is expected to reach USD 1,744.0 Million by the end of 2024 from USD 1,289.1 Million in 2018.
Geographical Analysis
Geographically, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the docking station market, North America is projected to capture a large market share over the forecast period. North America docking station market is expected to reach USD 862.7 Million by the end of 2024 from USD 694.1 Million in 2018. The market value of the North America docking station market is expected to rise at a CAGR of 3.7% over the projected period.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of global docking station market, such as Dell Inc., The Hewlett-Packard Company, Lenovo, Targus, Samsung, Sony, Toshiba, StarTech.com, IOGEAR, Panasonic, Fujitsu, Asustek and others key players. The docking station market is witnessing a wide range of industry activities such as product launch, acquisition, partnership, and expansion across the globe. For instance, on 26th October 2018, Startech.com launched dual 4K 60Hz Thunderbolt™ 3 docking station for North America, Australia, New Zealand, and Japan markets. This docking station was easy to install and more flexible. This product launch helped the company to multiply its docking station line.
Segmentation
By Type:
– Laptop Docking Station
– HDD Docking Station
– Others
By End User:
– Business
– Household
– Government
– Others
By Connectivity:
– USB 3.0
– USB C
– WiGig
– Thunderbolt 2
– Thunderbolt 3
– Others
By Display Supported:
– One
– Two
– More than Two
By Price Range:
– High
– Medium
– Low
By Distribution Channel:
– Online Stores
– Offline Stores
By Geography:
– North America (U.S. & Canada)
– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
– Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
• Dell Inc.
• The Hewlett-Packard Company
• Lenovo
• Targus
• Samsung
• Sony
• Toshiba
• StarTech.com
• IOGEAR
• Panasonic
• Fujitsu
• ASUSTeK
• Other Major & Niche Players
Browse Full Report With TOC@ https://www.fastmr.com/report/30/docking-station-market
