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.
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Docking Station Market By Product, By Connectivity, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06193304/?utm_source=GNW
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.
COVID-19 Impact Analysis
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.
Market Growth Factors:
Rising penetration of internet users and smartphones
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.
Rise in popularity of video games due to the influence of technology
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.
Market Restraining Factor:
High addiction of digital gadgets and video games
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.
Distribution Channel Outlook
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.
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.
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.
Recent Strategies Deployed in Docking Station Market
Partnerships, Collaborations and Agreements:
May-2021: Targus teamed up with Google, an American multinational technology company. Through this collaboration, the two companies would launch docking solutions in the market that offer automatic firmware updates through Chrome OS, and make it extremely simple for Chromebook users to expand their desktop to a single- or multi-video configuration, driving up productivity substantially.
Jan-2020: HP Development Company joined hands with DisplayLink, the leading vendor of USB graphics and Universal hot desking technology. Through this collaboration, the companies launched HP Inc USB-C/A Universal Dock G2 docking station. The new docking station is based on the award-winning graphics technology of DisplayLink. Moreover, this product also supports USB-A, USB-CTM, and ThunderboltTM which allows notebooks from HP, Apple, Dell, Lenovo, and other top brands, and is compatible with every major operating system.
Acquisitions and Mergers:
Dec-2020: ACCO Brands acquired PowerA, a leader of third-party video gaming controllers, power charging solutions, and headsets. The integration of PowerA showcases a significant step in the company’s vision to transform it into a highly growing, consumer-focused business.
Product Launches and Product Expansions:
Oct-2021: Plugable introduced the US$119 UD-3900C, the latest docking station developed to optimize hybrid work. Through this launch, the company would eliminate every type of configuration issue that comes from open office formats and offers a universal and easy plug-in and get-to-work solution.
Sep-2021: Acer unveiled Acer USB Type-C Dock D501. Through this launch, the company expanded its wide range of Works With Chromebook-certified accessories. In addition, the latest product is the latest device that streamlines the process of connecting various displays or peripherals to a Chromebook. The dock has witnessed substantial testing and has been fulfilling the compatibility standards of Chromebooks with an aim to assure users that it would work effortlessly with their Chrome OS devices.
Jul-2021: Targus rolled out the Universal USB-C Phone Dock. The newly launched product is versatile, lightweight, compact, and handheld which can be effortlessly taken from home, to office, to a conference room. The Universal USB-C Phone Dock enables users to leverage their USB-C DP Alt Mode phone by developing a completely functioning desktop experience.
Jan-2021: Lenovo unveiled two latest docking stations. Through this launch, the company aimed to support a wide range of notebooks launched by the company at CES 2021. One of the docking stations interfaces with devices over USB-C, while the other utilizes Thunderbolt 4.0. The second docking station provides substantially more number of features owing to the extra legroom offered by a Thunderbolt port.
Nov-2020: Kensington introduced three full-featured docking stations. Through this launch, the company expanded its industry-leading portfolio of docking and connectivity products. These docking stations enable users to immediately convert a laptop computer into a complete workstation by using a single USB or Thunderbolt 3 cable; each offer 100 watts of power delivery to rapidly and simply charge devices with superior power needs like the newer MacBook Pro.
Oct-2020: StarTech unveiled DK30C2DPEP hybrid docking station. Through this launch, the company aimed to provide a hybrid docking station that is compatible with computers.
Jul-2020: Plugable rolled out UD-3900Z and UD-6950Z, two brand new docking stations. Both of the docking stations have USB-C and USB 3.0 connectivity for a host device. These stations would support various monitors and other peripherals once plugged in.
Scope of the Study
Market Segments covered in the Report:
• Smartphones & Tablet
By Distribution Channel
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• 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
• Acer Inc.
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