The "Global Docking Station Market By Product (Laptop, smartphones & Tablet and Others), By Connectivity (Wired and Wireless), By Distribution Channel (Offline and Online), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Docking Station Market size is expected to reach $1,787.3 million by 2027, rising at a market growth of 6.9% CAGR during the forecast period.
Docking stations are mainly utilized to connect mobile computing devices like tablets and smartphones to different instruments such as displays, printers, keyboards, and other peripherals. In addition, the rising requirement for rapid data transfer is boosting the demand for the above-mentioned computer devices. The market growth is supported by the surge in popularity of the Bring-Your-Own-Device (BYOD) model with an aim to cut down spending and drive-up efficiency and flexibility.
In addition, the rise in popularity and rising utilization of portable devices among consumers have resulted in a drastic increment in the demand for docking stations. Also, as these stations feature multifunctional properties like audio input and output that range from USB ports, and Ethernet connectivity is expected to create new growth avenues for the players operating in the overall market. Moreover, the demand for docking stations is expected to be fueled due to the surge in popularity of multiplayer video games due to easy access to high-speed internet and compatible hardware.
COVID-19 Impact Analysis
During the initial phase of the pandemic, the requirement for docking stations increased as the majority of the companies implement social distancing norms at workplaces or asked employees to come in once a week or adopt a work-from-home model. Most of these companies only opened the office on a need-to-know basis, thereby allowing their employees to work virtually completely from home.
When the number of workers started working from home, the utilization and adoption of docking stations increased significantly as effective home working stations mandates docking device that is safe to use and sophisticated enough to manage the equipment that are majorly utilized by the employees.
Market Growth Factors:
Rising penetration of internet users and smartphones
The increasing population of smartphone users and high penetration of the internet are among the key aspects expanding the number of online users. This is expected to further augment the demand for docking stations, thereby opening new growth avenues for the overall market during the forecast period. The number of smartphone users will constantly rise in the upcoming years, which is expected to accelerate the growth of the docking station market during the forecast period. Besides, the consumption of video content has surged across the world that is expected to also accelerate the market growth.
Rise in popularity of video games due to the influence of technology
The constant technological advancements across the world have compelled people to depend on smartphones, several high-tech gadgets, and the internet. As a large number of people are engaged in playing video games, the vendors have introduced a recurring revenue model in the past few years. In addition, virtual reality products, video game tournaments, and consumer spending on video content is experiencing high growth around the world due to constant technological advancement.
Marketing Restraining Factor:
High addiction of digital gadgets and video games
Many organizations are conducting studies to evaluate the possible effects of smart gadgets on the minds of individuals, especially the young generation. In addition, people use these smart gadgets to play video games and esports which are highly addictive in nature, and people who play these games mostly end up getting addicted to such games, which could hamper the growth of the docking stations market. In addition, there are several psychological effects witnessed among the players of video games or esports, which are restricting many people from entering the world of esports, thus hampering the demand for the product.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
220.127.116.11 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Docking Station Market by Connectivity
Chapter 5. Global Docking Station Market by Product
Chapter 6. Global Docking Station Market by Distribution Channel
Chapter 7. Global Docking Station Market by Region
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qjpbgv
These press releases may also interest you