Docking Station USB Port Market Overview
The growth of the global docking station USB port market is thriving on the back of the increasing opportunities generated by the rising internet penetration which is also contributing to the increasing presence of market players in the online distribution channel, coupled with advancements in wireless connectivity technology and the increasing demand for docking station USB products in various end user industries, including healthcare, IT and others. Additionally, growing trend of video gaming, which requires multiple devices to be connected to each other, thereby raising the need for the deployment of docking station USB port, along with the numerous benefits associated with the docking station USB port which raises the adoption of the product are some of the factors anticipated to contribute significantly towards the growth of the global docking station USB port market.
The global docking station USB port market reached a value of USD 8505.6 million in the year 2018 and is expected to garner a value of USD 11128.4 million in the year 2027 by registering a CAGR of 3.05% across the globe over the forecast period 2019-2027. Further, the worldwide market of docking station USB port is anticipated to achieve an incremental $ opportunity of USD 344.3 million in the year 2027 as compared to the previous year.
Growth Highlights based on Region during 2018-2027
The global docking station USB port market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of North America docking station USB port is driven by U.S. and Canada, where U.S. held the largest market share of 80.48% in the year 2018. Additionally, the market of North America docking station USB port held the largest market share of 43.07% in the year 2018 and reached a value of USD 20850 million in the year 2018 and is further anticipated to grow with a CAGR of 3.32% during the forecast period. Growing rate of digitalization in the countries in the region along with increasing rate of advancement in the technological versions of USB technology and other associated technologies have helped significantly in raising the adoption of docking station USB port, which in turn is anticipated to drive the growth of the market of North America docking station USB port in the coming years.
Further, China, India and Australia are some of the prominent countries that are driving the growth of the Asia Pacific docking station USB port market, where China accounted for the largest market share of 36.75% in the year 2018. Increasing demand for docking station USB port by the consumers for commercial applications such as in airports, railways, resorts and hotels for use in charging of smartphones and tablets, coupled with the growth in the wireless connectivity devices as well as for concepts of Bring-Your-Own-Device (BYOD) and Carry-Your-Own-Device (CYOD) and several other factors, which include rapid urbanization, increasing awareness for technology and others are some of the factors anticipated to drive the growth of the market in Asia Pacific region.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Docking Station USB Port Market Segmentation Synopsis
By USB Type
The global docking station USB port market has been segmented on the basis of USB type into USB 1.0, USB 2.0 and USB 3.0. The USB 3.0 segment with 68.55% share in the year 2018, occupies the largest market of docking station USB port across the globe. Additionally, the USB 3.0 segment is anticipated to cross a value of USD 7905.5 million by the end of 2027 by registering a CAGR of 3.46% over the forecast period. Further, the USB 2.0 segment is estimated to gain an incremental $ opportunity of USD 48.8 million in the year 2027 as compared to the previous year.
Docking Station USB Port Market Drivers and Challenges
The penetration of smart and mobile devices such as laptops, smartphones, tablets and others has gradually increased over the past few years. More or less, an individual carry at least two or three such devices. Consumers across the globe are also adopting advanced and smart innovative technologies to upgrade their lifestyle and to grow their work productivity. Docking station USB port helps consumers with the ease of connectivity and power supply which is raising the adoption of such devices amongst individuals around the globe. The increasing use of mobile devices along with the high presence of these devices amongst the individuals and factors such as increase in the number of office spaces, development of BYOD policies in organizations, technological advancements observed in docking station USB port and the increasing population and globalization around the world are some of the factors anticipated drive the growth of the global docking station USB port market.
There is a surge in the sales of smartphones around the world owing to the developments being made in the device, which is replacing the use of laptops and desktops, reducing the need amongst the individuals to carry multiple devices at a time. Additionally, presence of counterfeit products which are available at very low price, coupled with compatibility issues observed in the docking station USB ports built by OEMs for laptops are some of the factors anticipated to impact negatively towards the growth of the global docking station USB port market.
Top Featured Competitive Landscape
Some of the affluent industry leaders in the global docking station USB port market are Hewlett Packard Enterprise, Intel Corporation, Toshiba Corporation, Qualcomm Technologies, Targus, Apple Inc., Samsung Electronics Co. Ltd., Lenovo and Plugable Technologies.