San Francisco, March 01, 2022 (GLOBE NEWSWIRE) -- The global docking station market size is expected to reach USD 2.20 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The industry growth can be attributed to the growing popularity of the Bring-Your-Own-Device (BYOD) work culture, which aims to cut costs while increasing flexibility and efficiency. Docking stations are primarily used to connect mobile computing devices, such as tablets and smartphones, to displays, keyboards, printers, and other peripherals. Furthermore, the demand for the aforementioned computer devices is being fueled by the growing need for quicker data transfer. In addition, with the rising number of gaming subscriptions and the growing popularity of e-sports, the demand for docking stations is expected to increase in the coming years.
Key Insights & Findings from the report:
- The laptop product segment dominated the market and held a revenue share of over 70.0% in 2020. The smartphone and tablet segment is expected to expand at the highest CAGR of 8.1% from 2021 to 2028.
- The wireless connectivity segment is expected to register the highest CAGR of 8.0% from 2021 to 2028 due to the incorporation of advanced wireless technologies, such as WiGig, Wi-Fi, and Bluetooth, with better efficiency.
- The offline distribution channel segment captured the largest revenue share of over 75.0% in 2020. An increasing number of retail stores, especially in emerging markets such as India, China, and Brazil, is expected to boost product sales through offline channels.
- North America held the largest revenue share of over 35.0% in 2020. This can be attributed to the growing need for docking stations in the region as millennials and youngsters have become more interested in e-sports.
Read 94-page market research report, “Docking Station Market Size, Share & Trends Analysis Report By Product (Laptop, Smartphone & Tablet), By Connectivity (Wired, Wireless), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028”, published by Grand View Research.
Docking Station Market Growth & Trends
In addition, the global brand awareness that Bluetooth technology provides is expected to enable the development of richer solutions with a faster time to market. The addition of mesh to the Bluetooth standard would open up considerable opportunities for improved experiences in smart homes and building automation. According to a research study, about 48 billion Internet-enabled devices are likely to be installed by 2021, of which nearly one-third would include Bluetooth. With the increasing number of Bluetooth-enabled devices, the mesh networking technology would make a significant initial impact on the commercial and industrial spaces, ultimately becoming a common technology in the larger Internet of Things system.
The digital economy continues to evolve at breakneck speed, driven by the ability of digital media to collect, use, and analyze massive volumes of machine-readable information. As digital media saves time and provides the convenience of accessing data from anywhere, at any time, people worldwide are widely adopting it for various applications. Increasing focus on the digital economy would boost the demand for docking stations in the coming years.
Moreover, governments in developing countries have undertaken various initiatives to promote the digital economy for various development purposes and solve various social issues. Moreover, digitalization can improve economic and social outcomes, and be a driving force for innovation and productivity. Digital platforms facilitate transactions, networking, and information exchange, among others.
Furthermore, the popularity of universal docking stations is increasing steadily among frequent business travelers as these stations enable them to connect with other devices such as printers, keyboards, and scanners, in addition to saving time and expenses. Furthermore, universal docking stations are extremely helpful for IT administrators as these stations can be used with the latest Ultrabook, MacBook, and Windows pro tablets and laptops, thus providing hassle-free connectivity.
Docking Station Market Segmentation
Grand View Research has segmented the global docking station market on the basis of product, connectivity, distribution channel, and region:
Docking Station Product Outlook (Revenue, USD Million, 2016 - 2028)
- Laptop
- Smartphone & Tablet
- Others
Docking Station Connectivity Outlook (Revenue, USD Million, 2016 - 2028)
- Wired
- Wireless
Docking Station Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Offline
- Online
Single-use Bioprocessing Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Central and South America
- Brazil
- Middle East and Africa
- Saudi Arabia
List of Key Players of Docking Station Market
- Targus
- StarTech.com
- Dell Technologies Inc.
- ACCO Brands Corporation
- Lenovo Group Limited
- HP Development Company L.P
- Plugable Technologies
- TOSHIBA CORPORATION
- Acer Inc.
- Samsung Electronics Co., Ltd.
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- Laptop Market - The global laptop market size is anticipated to reach USD 108.91 billion by 2025, according to a study by Grand View Research, Inc., progressing at a CAGR of 0.4% during the forecast period. Increasing urbanization and growing spending capacities of consumers belonging to middle and upper-middle classes, coupled with evolving lifestyles, are projected to help the global market gain significant momentum over the coming years.
Browse through Grand View Research’s Electronic & Electrical Industry Research Reports.
About Grand View Research
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