The Global Docking Station Market size is expected to reach $1,787.3 million by 2027, rising at a market growth of 6.9% CAGR during the forecast period.
Docking stations are mainly utilized to connect mobile computing devices like tablets and smartphones to different instruments such as displays, printers, keyboards, and other peripherals. In addition, the rising requirement for rapid data transfer is boosting the demand for the above-mentioned computer devices. The market growth is supported by the surge in popularity of the Bring-Your-Own-Device (BYOD) model with an aim to cut down spending and drive-up efficiency and flexibility.
In addition, the rise in popularity and rising utilization of portable devices among consumers have resulted in a drastic increment in the demand for docking stations. Also, as these stations feature multifunctional properties like audio input and output that range from USB ports, and Ethernet connectivity would create new growth avenues for the players operating in the overall market. Moreover, the demand for docking stations would be fueled due to the surge in popularity of multiplayer video games due to easy access to high-speed internet and compatible hardware.
During the initial phase of the pandemic, the requirement for docking stations increased as the majority of the companies implement social distancing norms at workplaces or asked employees to come in once a week or adopt a work-from-home model. Most of these companies only opened the office on a need-to-know basis, thereby allowing their employees to work virtually completely from home.
When the number of workers started working from home, the utilization and adoption of docking stations increased significantly as effective home working stations mandates docking device that is safe to use and sophisticated enough to manage the equipment that are majorly utilized by the employees.
The increasing population of smartphone users and high penetration of the internet are among the key aspects expanding the number of online users. This would further augment the demand for docking stations, thereby opening new growth avenues for the overall market during the forecast period. The number of smartphone users will constantly rise in the upcoming years, which would accelerate the growth of the docking station market during the forecast period. Besides, the consumption of video content has surged across the world that would also accelerate the market growth.
The constant technological advancements across the world have compelled people to depend on smartphones, several high-tech gadgets, and the internet. As a large number of people are engaged in playing video games, the vendors have introduced a recurring revenue model in the past few years. In addition, virtual reality products, video game tournaments, and consumer spending on video content is experiencing high growth around the world due to constant technological advancement.
Many organizations are conducting studies to evaluate the possible effects of smart gadgets on the minds of individuals, especially the young generation. In addition, people use these smart gadgets to play video games and esports which are highly addictive in nature, and people who play these games mostly end up getting addicted to such games, which could hamper the growth of the docking stations market. In addition, there are several psychological effects witnessed among the players of video games or esports, which are restricting many people from entering the world of esports, thus hampering the demand for the product.
Based on the Product, the Docking Station market is segregated into Laptop, smartphones & Tablet and Others. In 2020, the laptop segment procured the maximum revenue of the market. The rise in the potential applications of docking stations across numerous industries such as e-commerce, warehouse management, and supply chain would open new growth avenues for the players operating in the overall market growth during the forecast period.
Based on the Connectivity, the Docking Station market is bifurcated into Wired and Wireless. In 2020, the wired segment acquired the maximum revenue share of the market. Wired docking stations find potential applications in the IT sector due to the huge convenience related to these products. In addition, these devices allow faster data transfer, which is extremely important in the IT industry.
Based on the Distribution Channel, the Docking Station Market is segregated into Offline and Online. The offline distribution channel segment procured the highest revenue share of the market in 2020 and the segment is likely to showcase a similar kind of trend even during the forecasting period. The rising retail stores, particularly in developing countries like India, China, and Brazil would fuel the sales of the product via offline channels.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1,082.5 Million |
| Market size forecast in 2027 | USD 1,787.3 Million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 6.9% from 2021 to 2027 |
| Number of Pages | 198 |
| Number of Tables | 333 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Connectivity, Product, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on the Region, the Docking Station market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, North America emerged as the leading region by obtaining the maximum revenue share of the overall docking station market. The requirement and demand for docking stations in the region is particularly witnessed among millennials and the young generation as they are more interested in e-sports.
Free Valuable Insights: Global Docking Station Market size to reach USD 1,787.3 billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Samsung Electronics Co., Ltd. is the forerunners in the Docking Station Market. Companies such as Toshiba Corporation, Lenovo Group Limited, and Dell Technologies Inc. are some of the key innovators in Docking Station Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hewlett-Packard Enterprise Company, Dell Technologies, Inc., Lenovo Group Limited, Toshiba Corporation, StarTech.com Limited, Targus AP, ACCO Brands Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Plugable Technologies, and Acer Inc.
By Product
By Connectivity
By Distribution Channel
By Geography
The docking station market size is projected to reach USD 1,787.3 million by 2027.
Rising penetration of internet users and smartphones are driving the market in coming years, however, high addiction of digital gadgets and video games limited the growth of the market.
Hewlett-Packard Enterprise Company, Dell Technologies, Inc., Lenovo Group Limited, Toshiba Corporation, StarTech.com Limited, Targus AP, ACCO Brands Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Plugable Technologies, and Acer Inc.
Docking station market estimate to grow at a CAGR of 6.9%.
The smartphone and tablet segment would display the highest growth rate in the market during the forecasting period. This is attributed to the rising application of smartphones and tablets in the IT sector in order to test new apps for device compatibility.
The North America market dominated the Global Docking Station Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $639.3 million by 2027.
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