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.
