NEW YORK, May 03, 2021 (GLOBE NEWSWIRE) -- The reformation pertaining to work from home (WFH) due the COVID-19 pandemic has promoted the trend of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) among the masses, which is further estimated to grow in upcoming years owing to its popularity. This has driven the organisations to enhance their risk-management strategies related to their security, data leakage, and other IT policies to help protect their services and data. With growth in internet users globally, amounting to more than 4.5 billion at present and the technological advancements in 5G, there is an increase in the adoption of BYOD and CYOD, further boosting the demand for USB docking stations across the world.
Research Nester published a detailed report on ‘Global Docking Station USB Port Market Analysis 2018-2027’ which is segmented by USB type, connectivity, dock type, number of ports, end-user and by region. The research study offers distinct analytical insights that are adopted by prominent market players to perform better and gain a leading position in this competitive landscape. Our research analysts provide our clients a clear assessment on ongoing and forthcoming trends combined with the challenges associated with the growth of the market between 2018 and 2027.
In 2018, the global docking station USB port market collected revenue of USD 8,505.6 million and is estimated to grow at a CAGR of 3.05% during the forecast period, i.e., 2019-2027. On the back of technological advancements in wireless connectivity, USB port types, and others along with increasing popularity of portable smart devices among the consumers, the global docking station USB port market is estimated to touch USD 11,128.4 million in 2027. Moreover, the trend of bring your own device (BYOD) and choose your own device (CYOD) in the corporate business world has extensively contributed towards the growth of the market across the globe.
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Based on geography, the global docking station USB port market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among the markets in these regions, the North America docking station USB port market is estimated to hold leading stance throughout the forecast period by growing at a CAGR of 3.2%. The high demand in this region can be attributed to increase in digitalization and industrialization in the countries of this region. Moreover, in 2027, the N.A. market is estimated to acquire almost 40% of the share in the global market, followed by the markets in Asia Pacific and Europe. Around 80% of the share is estimated to be captured by the U.S. market in 2021. Moreover, the market in Europe is estimated to get hold of around 18% of the market share in 2027. The growing demand for docking station USB systems among the consumers owing to their notable attributes such as multiple monitor connectivity, high speed data resource transfer, and additional charging space among others, and presence of some of the leading players in the region is contributing to the growth of the market in Europe. In 2021, the Europe docking station USB port market is estimated to cross USD 1750 Million, where in terms of volume, around 10,500 thousand units are estimated to be sold in the said year.
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However, the increasing sales of smartphones is negatively impacting the consumption of laptops and desktops in the market. In 2019, around 1.4 billion smartphones were sold globally. Moreover, availability of bogus products at lower prices along with compatibility issues pertaining to docking stations and laptops are some of the challenging factors that are estimated to act as barriers to the growth of the market in upcoming years.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global docking station USB port market is segmented by dock type into laptop, hard drive, and mobile device docks. Among these segments, the laptop docks segment held the leading market share (about 70%) in 2018 and is estimated to garner highest revenue of around USD 6,470 Million in the year 2021. However, the highest growth rate is estimated to be witnessed by mobile device dock segment. The global market is further bifurcated by connectivity into USB C and thunderbolt. Among these segments, the USB C segment is projected to bring in highest revenue throughout the forecast period and is anticipated to grow by a CAGR of 2.63 % during this period.
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The global docking station USB port market is also segmented on the basis of USB type, connectivity, number of ports, and end-user.
Global Docking Station USB Port Market, Segmentation by USB Type
- USB 1.0
- USB 2.0
- USB 3.0
Global Docking Station USB Port Market, Segmentation by Number of Ports
- One
- Two
- More than Two
Global Docking Station USB Port Market, Segmentation by End-User
- Commercial
- Residential
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Some of the major industry leaders mentioned in our report that are associated with the global docking station USB port market are Hewlett Packard, Intel Corporation, Toshiba Corporation, Qualcomm Technologies, Targus, Samsung, Lenovo, and Plugable Technologies.
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