(MENAFN- America News Hour) Kenneth Research has recently added a report titled Docking Station market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Docking Station market is further anticipated to grow with a CAGR of 5.2% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Global Docking Station Market Overview
Docking station refers to an electronic device which is used for plug-in different electronic gadgets into one common peripheral. Docking station is widely used in devices such as laptop, mobile phones, hard drive and various others. It is specifically designed for a model of product due to the presence of various types of connectors in the device. Furthermore, docking station has multiple slots for storage devices, mobile phone charging, and peripheral device such as printer and monitor. The docking stations are preferred worldwide by the consumers owing to its less wiring system and innovative technology.
Prominent docking station manufacturers have already started manufacturing docking stations that can be connected to laptops and smartphones wirelessly. The docking station can be classified as wired docking stations and wireless docking stations. The wireless docking station is free of cables. Further, the wireless docking stations are gaining popularity over the wired docking stations as they are more portable and offer easier connectivity solutions. They can easily be carried from home to workplace. Moreover, they can be used with any model of device.
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Market Size and Forecast
The docking station market reached USD 1268.7 Million in 2016. Further, the global docking station market is expected to witness a CAGR of 5.2% over the forecast period. Increasing popularity and use of portable device among consumers has resulted in the increased demand for the docking stations. Further, these docking stations are expected to witness a robust growth owing to its multi-functional properties such as audio input and output, ranging USB ports and Ethernet connectivity. Moreover, rapidly IT industries all across the globe is creating upsurge demand for computer and accessories. This factor is anticipated to positively impact the growth of global docking station market.
'Final Report will add the analysis of the impact of COVID-19 on this industry.'
In the regional platform, North-America is the largest market for docking station followed by Europe and Asia-Pacific. North-America held the largest market share of global docking station market till 2016 and expected to continue its dominance over the forecast period. In 2016, North-America market accounted for 47.9% of market revenue of global docking station system. Moreover, the practice of bring your own device (BYOD) and carry your own device (CYOD) in the IT companies is expected to provide a robust growth over the forecast period.
Further, Europe is also expected to witness growth over the forecast period. Rising disposable income and adoption of technologies by the population is expected to fuel the demand for docking stations in the European region. Moreover, Asia-Pacific is expected to showcase a positive growth over the forecast period. Presence of manufacturers, increasing IT companies and rising personal disposable income are some of the key factors spurring the demand for docking stations in the Asia-Pacific region. Global docking station is segmented into type such as laptop docks, hard drive docks and mobile device docks, out of which laptop dock captured the largest market with 71.0% from overall docking station market.
Key players
Apple
Samsung
Sony
Lenovo
Toshiba
Dell
HP
ASUS Tek
Haier
Fujitsu
Other Key Players
Scope and Context
Growth Drivers and Challenges
Rapid digitalization across the globe is transforming numerous business modules such as E-commerce, IT sector, and other businesses. With such digital transformation of business modules, the number of electronic devices such as laptops, tablet, printers and other electronic devices are increasing. Further, such abilities of docking stations help the businesses to boost productivity and enhance the business continuity. The adoption of docking station is increasing immensely among businesses to enhance the business environment and to improve the productivity of the business.
Rising disposable income and increased adoption of integrated technologies in the developed and developing countries is expected to drive the global docking station market over the forecast period 2017-2024. Moreover, the features of docking stations such as additional faster (3.0) USB ports, Ethernet and multiple connectors are expected to fulfill the rising demand of connectivity issues. In addition to this, the increasing adoptions of policies such as bring your own device (BYOD) and choose your own device (CYOD) in IT companies is projected to escalate the growth of global docking station market.
However, compatibility issues with most of OEMs docking stations are a major concern in global docking station market. Another factor highlights that consumers are hesitating to replace their old docking station after spending a significant amount of money on a new laptop or tablet. Moreover, high cost of leading manufacturer's docking station is anticipated to hamper the growth of docking station market. The high cost of these docking stations further creates reluctance among the population.
Market Segmentation
Our-in depth analysis of the global docking station market includes the following segments:
By Type
Laptop Docking Stations
Mobile Device Docking Stations
Hard Drive Docking Stations
By Technology
Wired Docks
USB Type-C Alternate Mode
Thunderbolt3
Universal USB docking
Other
Wireless Docks
By Application
Commercial
Residential
By Region
Global docking station market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis Docking
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