Docking Station Market: Current Analysis and Forecast (2021-2027)

A rise in internet penetration, BYOD policy by organizations, and increasing cell phones and laptop shipments across the globe are some of the prominent factors which are driving the demand for docking stations. As per Gartner, global smartphone sales grew 6% in 2021. Furthermore, the overall smartphone market saw a 5.7% increase in shipments despite a sluggish final quarter of the year that saw a 3.2% decline, as revealed by IDC.

Moreover, the market for docking stations is likely to witness significant growth in the coming years due to their multifunctional properties, such as audio input and output, ranging USB ports, and Ethernet connectivity. Bring-Your-Own-Devices (BYOD) is another trend that is propelling the market forward. Also, the rising popularity of multiplayer video games owing to easy access to high-speed internet and compatible hardware is expected to boost the demand for docking stations. Moreover, vendors operating in the gaming industry offer tailored products in several portable options such as Nintendo Switch with Neon Blue and Neon Red Joy-Console.

The Global Docking Station market is expected to register a CAGR of around 5% over the period of 2021-2027. The advent of technologies such as wi-fi, Bluetooth, WiGig, USB-C, USB 3.0, and Thunderbolt, is contributing to the growing market. Manufacturers in the industry have been incorporating wireless technologies in their products, considering the growing demand. For instance, recently, Samsung Group launched Samsung DeX, a wireless docking station, along with Samsung Galaxy S8. The docking station allows smartphones to connect to power supplies, monitors, wireless mouse, keyboards, and network ports. It also enables smartphones to convert into touchpad.

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., etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

"Amongst product, laptop category accounted for the majority share in the market in 2020"

Based on the product, the market is fragmented into laptops, smartphones& tablets, and others, The laptop segment grabbed the major market share in 2020 and dominated the market. The growing use of laptops in almost every industry is leading to the growing share of the segment. As per tech giant HP, Despite the spike in demand for personal computers and laptops in India by 50%year-on-year last year, due to additional requirements for online learning and work from home .

"Amongst connectivity, wireless segment is expected to witness highest CAGR during the forecast period"

Based on the connectivity, the market is fragmented into wired and wireless. The wired segment grabbed the major market share in 2020. The benefits such as a high degree of convenience, high-speed data transfer, etc., are leading to the growing share of the segment. However, the wireless segment would witness a robust CAGR Due to the incorporation of advanced wireless technologies, such as WiGig, Wi-Fi, and Bluetooth, with better efficiency.

"Amongst distribution channel, the offline segment is expected to witness highest CAGR during the forecast period"

Based on the distribution channel, the market is fragmented into online and offline. The offline segment grabbed the major market share in 2020 and dominated the market. 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. However, the online segment would witness the highest CAGR during the forthcoming years.

"North America to witness significant growth during the forecast period"

For a better understanding of the market adoption of the Docking Station market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The North America region grabbed the major market for the Docking Station Market industry in 2020. However, the Asia Pacific region would witness a considerable CAGR during the forthcoming years.

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