In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
July 24, 2019: Hewlett Packard Enterprise announced that it would expand its operations, manufacturing and employee base in India by investing USD 500 Million over the next five years.
May 6, 2021: Targus announced that it would be adding two docking stations to Google’s Works with Chromebook program. The agreement is aimed at increasing productivity of Chromebook users.
The global docking station market is estimated to garner significant revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2021 – 2030. The growth of the market can be attributed primarily to the numerous benefits associated with the use of these devices, along with the rising trend of bring your own devices (BYOD) in work places. Moreover, with the advancements in technology, manufacturers of computing devices are increasingly focusing on enhancing device portability by introducing multi-function ports, which is also one of the major factors driving the demand for docking stations. On the other hand, owing to the COVID-19 pandemic, as individuals are adopting to remote working, there is a rising need among individuals to connect multiple devices for work, which is also driving the demand for these accessories, thereby contributing to the market growth. Moreover, growing sales of handheld devices, such as cellphones, and tablets, along with the rising demand for laptops worldwide are also anticipated to drive the market growth during the forecast period. The sales of cell phones surged massively over the past one decade, growing from nearly 300 Million units in 2010 to over 1500 Million units in 2020. Shipment of laptops, on the other hand, grew from around 150 Million units in 2015 to nearly 220 Million units in 2020. The market is also anticipated to grow on account of the growing trends of video gaming, as well as for the increasing need for vehicle mounted docking stations for use in vehicles of law enforcement authorities.
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The market is segmented by type into port replicators, OEM/proprietary docks, and vehicle docks, out of which, the port replicators segment is anticipated to hold the largest share in the global docking station market throughout the forecast period. Port replicators are usually universal in nature and hence can be used for connecting multiple devices. These are usually available in a variety of connectivity formats, such as USB-A, USB-C, thunderbolt, and others, and can be connected to any type of computing device.
The global docking station market is segmented by driver into software and driver-less. Mostly, the docking stations require software or drivers in order to work. However, there are issues involved related to compatibility as well as updation on timely basis, which often acts as a challenging factor for the users. Moreover, driver installation often results in the slow functioning of the computer. This has driven many manufacturers to come up with driver-less docking stations that do not require any software or driver installation. Such docking stations come up with user-friendly interface, are self-maintained, easy to use, and are compatible with wide range of operating systems. These are ideal for both students and technocrats. Driven by these trending attributes, the driver-less segment is estimated to witness fastest growth in upcoming years.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global docking station market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period and hold the largest market share by the end of 2030. The growth of the market in the region can be attributed to the increasing digitization rate in countries such as the United States and Canada, along with the increasing awareness about docking stations amongst the end-users. The market in the Asia Pacific, on the other hand, is anticipated to grow with the highest CAGR during the forecast period, owing to the presence of countries, such as China and Japan, where China is known as the manufacturing hub of computing devices. According to the statistics by the World Bank, the exports of ICT goods as a share of total goods exports in China increased from 25.939% in 2014 to 27.308% in 2018.
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The global docking station market is further classified on the basis of region as follows:
Our in-depth analysis of the global docking station market includes the following segments:
Ans: The increasing trends of BYOD, along with the rising sales of computing devices are some of the factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2021-2030.
Ans: The availability of counterfeit products is one of the major factors estimated to hamper the market growth.
Ans: The market in the Asia Pacific is anticipated to grow with the highest CAGR over the forecast period, and provide significant business opportunities.
Ans: The major players in the market are Gamber-Johnson LLC, Havis, Inc., Targus, ACCO Brands Corporation, Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Inc., Fujitsu, HP Development Company, L.P., Lenovo, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product type, connectivity type, docking interface type, driver, port type, application, end-user, and by region.
Ans: The port replicators segment is anticipated to hold the largest market share over the forecast period and display significant growth opportunities.