PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1064105
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1064105
According to Stratistics MRC, the Global Hybrid Devices Market is accounted for $30.43 billion in 2022 and is expected to reach $108.49 billion by 2028 growing at a CAGR of 23.6% during the forecast period. Hybrid devices associate the productivity and functionalities of a laptop with similar functionality of a tablet in a single device. These devices are differentiated into convertible and detachable hybrid dices. The convertible hybrid devices come with a functionality of converting the device into a tablet by rotating, sliding or folding the keyboard behind or within a framework. A detachable hybrid device portrays the ability to disengage its keyboard and function as a lightweight tablet PC without the need to carry the additional weight of the keyboard.
In 2020, hybrid (2-in-1) tablet shipments were forecast to reach 32 million units in 2020. Smart, connected products offer exponentially expanding opportunities for new functionality, far greater reliability, much higher product utilization, and capabilities that cut across and transcend traditional product boundaries. The changing nature of products is also disrupting value chains, forcing companies to rethink and retool nearly everything they do internally.
Hybrid devices comes with powerful processors, some devices employ Atom quad-core processors. Atom quad-core processors instantly launch apps and widgets without exhausting the battery life of the device. Growing demand for devices with longer battery life and acceptance of hybrid devices for enterprise mobility drive the hybrid devices market
The hybrid devices are comparatively more expensive than laptops and tablets. The accessories, build material (magnesium, aluminum among others), processors, sensors, and storage space add an additional cost to the overall price of the hybrids devices. These factors are expected to limit the market growth up to certain extent.
Hybrid devices provide exceptional features for business users such as effortless touch input for browsing, reviewing, presenting, and collaborating files and documents. Moreover, the devices portray longer battery life, faster wake times, built-in security features, and remote manageability that are ideal for enterprise mobility. In addition, use of touchscreen technology is expected to provide ample opportunities for the growth of the market. The touchscreen technology enables quicker, simpler, and intuitive navigation.
Hybrid devices, especially the convertible ones, are too heavy to use as a tablet because of the extra bulk of the attached keyboard. Moreover, the build materials used in the hybrids such as magnesium, aluminum, and others make the device heavier. This is a major threat for the growth of the market.
The rising adoption of enterprise mobility and hybrid devices across IT & telecom industry is expected to influence the growth of the overall hybrid device market significantly in the near future. Hybrid devices are equipped with highly functional processors that can instantly launch programs, applications and widgets without exhausting the battery life of the device. They also provide enterprises and individual users with effortless touch input for presenting, browsing, reviewing and collaboration on files and documents for remote manageability, seamless usability and enhanced operational efficiency.
Although convertibles hybrid devices are heavier than the detachable ones, continuous efforts are being made to make them sleeker, slimmer, and lighter by market players including Microsoft. On account of this, the convertible segment is witnessing faster growth during the forecast period.
North America is projected to hold the largest market share owing to the owing to the presence of various manufacturers such as HP, Dell, Microsoft and others. The US and Canada are the key contributors in growth of market in the region. Introduction of new advanced technologies in manufacturing of hybrid device is driving the growth of market in region. For instance, Microsoft launched the new surface pro 7 2-in-1 detachable laptops with excellent features. The slowdown in the sales of tablets and the increasing replacement of older PCs with new hybrid laptops and PCs are also contributing towards the market growth.
Asia Pacific is projected to have the highest CAGR due to the economic rise in China, India, Japan, Australia, and South Korea. Many manufacturers are being attracted towards the region owing to the increasing urbanization. Moreover, consumers in Asia-Pacific demand higher productivity and enhanced multimedia in their devices. Hence, owing to the productivity and entertainment demands the propellers for hybrid devices industry in the region include increase in number of internet users.
Some of the key players profiled in the Hybrid Devices Market include Microsoft, Toshiba Corporation, Samsung Corporation, Hewlett-Packard Development Company, Lenovo, LG Corporation, Dell, Fujitsu, Acer, and Asus.
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