The global docking station market is estimated to expand at 5% CAGR during the forecast period 2019 to 2027, states a new research report by TMR. The report further highlights that the market will garner valuation of US$ 12 Bn by the end of 2027. The main motive of this study is to provide key insights on the drivers, restraints, growth opportunities, and challenges in the docking station market.
Docking stations find prime application in connecting PCs, tablets, or laptops with different peripherals including mice, printers, and keyboards. These products are gaining traction, as they are compatible with varied models of notebooks and laptops. Docking stations allow users to connect additional peripherals to various electronic devices, and thus make these devices more useful and suitable for professional activities. This is one of the key advantages of docking stations for users of mobile devices. Thus, increased use of mobile devices is expected to boost the demand opportunities in the global docking station market in the forthcoming years.
docking station market segmentation
Over the period of recent few years, there is noteworthy growth in the disposable income of major population across the developed and developing countries from all across the globe. This scenario is resulted into increased use of different mobile accessories. Moreover, growth in population is expected to drive demand opportunities in the electronics device market, which is likely to boost the sales of docking stations in the years ahead.
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Docking stations hold an ability to give user access to various devices that are generally not compatible with mobile devices. For example, smartphones and laptops do not always show compatibility with exterior devices including large flat-panel monitors or digital cameras. In such cases, the usability of docking stations is highlighted as they allow for the connection between such types of incompatible devices. This factor is working as one of the key drivers for the docking station market.
ASUSTeK Computer Inc., Acco Brands Corporation, Hewlett-Packard Company, Dell Technologies Inc., Samsung Group, Lenovo Group Limited, StarTech.Com Ltd, Sony Corporation, Toshiba Corporation, and Targus Corporation are some of the important players from the global docking station market.
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Major players in the global docking station market are increasing participation in the acquisition activities. The tactic is helping enterprises in expanding their regional presence as well as strengthening their production capabilities. Apart from this, several companies in the docking station market are focused on the product innovations, partnerships, and collaboration activities. All these efforts are expected to translate into rapid expansion of the global docking station market in the forthcoming years.
Asia Pacific: Prominent Region Supporting Market Growth
North America, Asia Pacific, Latin America, Europe, and Middle East & Africa are key regions for the global docking station market. Among all regions, North America is dominant market region. Apart from this, Asia Pacific is projected to gather lucrative avenues during the forecast period 2019-2027. This growth can be attributed to several key factors such as rising disposable income, entry of new players, and increased regional population. Apart from this, the Asia Pacific docking station market is foreseen to gather the advantage of increased adoption of technology in the region.
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Global Docking Station Market Segmentation
The segmentation of the global docking station market is performed based on many crucial aspects such as product, connectivity, port, distribution channel, and region. Based on connectivity, the market for docking station is classified into wired and wireless. In terms of port, the docking station market is divided into single, double, and multiple. On the basis of distribution channel, the market is bifurcated into two main parts, namely, offline and online. Based on product, the market is divided into mobiles, laptops, hard drives, tablets, and others (smart watches and power banks).
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