10/07/2022, Newark // Future Market Insights, Inc. //
The docking station market is expected to grow at a value of 6.4% CAGR, according to Future Market Insights. In 2021, this market was predicted to have a global valuation of US$ 1,402 Million, and is expected to reach a sum of US$ 2800 Mn by 2032. A docking station is a type of electrical equipment used to connect portable computers or other electronic devices to other devices. It is widely used in a range of devices such as laptops, hard drives, mobile phones, and so on.
The docking station is built specifically for a model of product due to the presence of several types of connectors in the device. It has multiple slots for storage devices, mobile phone charging, and peripheral devices like printers and displays. Because of their less difficult wiring systems and innovative technology, consumers all over the world favor them.
The growing popularity of the Bring-Your-Own-Device (BYOD) workplace environment, which aims to reduce costs while increasing flexibility and efficiency, can be attributed to the industry’s growth. Furthermore, the rising demand for quicker data transmission is driving up demand for the aforementioned computing devices.
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People all over the world are increasingly turning to digital media for a number of purposes because it saves time and enables them to access information from any location, at any time. The increasing reliance on the digital economy will drive up demand for docking stations in the coming years.
However, bluetooth technological advancements, such as the introduction of mesh networking, may stymie the industry’s growth. Furthermore, the global brand awareness afforded by bluetooth technology is expected to assist the development of richer solutions with a shorter time to market, hence negatively impacting demand in the global market.
The North American market would be the most volatile market during the forecast period. The increased interest in e-sports among millennials and young people in the region is driving up demand for docking stations. These consumer trends are likely to drive up demand for PCs, laptops, and cellphones, as well as docking stations. Because of the quickly expanding IT sector in nations such as Canada and the United States, the widespread use of docking systems has expedited the regional market’s rapid expansion.
Key Takeaways from the Market Study
- In 2022, the global docking station market is estimated to have a global market size of US$ 1505.5 Mn.
- By product, the laptops segment is expected to gain a 72% market share in 2022.
- By connectivity, the wired segment is projected to acquire a global market valuation of 71.5% in 2022.
- By distribution channel, the online segment will acquire 58.2% share in 2022.
- The North American market for docking stations will expand with a market share of 37.8% in 2022.
- The APAC docking station market is expected to grow with a 4.5% CAGR during the forecast period.
- The European region is projected to grow with a 5.9% CAGR during 2022-2032.
The leading companies in the sector compete aggressively, as several of them are top technology manufacturers and also deal in docking stations. These companies have a huge client base due to the availability of strong and comprehensive distribution networks to service both regional and international consumers. Because the majority of major firms have a global presence, they have a large impact on the market. Major corporations are striving to increase their global market presence by creating partnerships with existing distributors in new markets.
- Lenovo provides a wide range of docking stations designed specifically for its Thinkpad line. Customers can benefit from improved interoperability on both USB-C and ThunderboltTM-enabled laptops thanks to Intel® ThunderboltTM technology embedded into these docking stations. They can boost productivity by connecting to several 4K panels with a single-cable docking solution for 40 Gbps high-speed data (max). The single cable can also be used to charge ThinkPad laptops (65W) and ThinkPad Mobile Workstation computers (170W).
- In January 2022, ASUS introduced the Two 4K USB-C Dock, a brand-new and ultra-compact 5-in-1 docking station featuring dual 4K display outputs, 10 Gbps transfers over USB-C® and USB Type-A, 100-watt Power Delivery passthrough, and Gigabit Ethernet. The Dual 4K USB-C Dock, built as a successor to the well-known ASUS Mini Dock, provides improved battery life, more advanced display outputs, and quicker data transfer speeds, allowing busy modern professionals to connect and get to work quickly and easily.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global docking station market, presenting historical analysis from 2016 to 2021 and forecast statistics for the period of 2022-2032.
the study reveals essential insights on the basis of product (laptops, smartphones and tablets, others), of connectivity (wired and wireless), of distribution channel (online, offline) and region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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