United States/WA: Docking Station Market Will Boom In Near Future
Report Pages:[130 Pages]
Overview
A Docking Station essentially connects a computer or a laptop to the main display screen of the device and enables the user to use it with the aid of an external display, keyboard and peripheral controls. These devices are meant to dock with the internal devices and work both as an effective transport medium and a communication device between the two devices. There are two types of docking stations, one being completely mobile and the other being stationary. Sturdily built, the stationary units ensure that the devices can be used even when they are not docked at the docks. This type of docking station also offers greater portability, something that its counterparts do not offer.
Competitive Landscape
Major companies contributing in the global docking station market include Fujitsu, Toshiba, Samsung, SilverStone, Apple, Lenovo, Dell, Sony, HP, Havis, Panasonic, Acer, ASUS, Targus, Kensington, Hisense, and Haier.
Drivers
Growing popularity of docking station devices among SMEs (small and medium enterprises) for their better connectivity in storage and peripheral operations compounded with the emerging trends of IoT (Internet of Things), Artificial Intelligence, Blockchain Technology, and others is expected to propel growth of the docking station market over the forecast period.
Rapid adoption of BYOD (buy-your-own-device) culture in various IT and corporate enterprises is also expected to aid growth of the docking station market during the forecast period.
The Epitome of the COVID-19 Aftermath
The emergence and resurgence of the COVID-19 virus had a major impact on the global docking station market. A large blow came from the delay/cancellation of shipments carrying consumer electronics during the peak of the pandemic. The decline in business was more due to weakness in the supply chain rather than in demand, as online bookings for consumer electronics have skyrocketed since the onset of the pandemic.
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Key Trends
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The docking station market is estimated to grow at a CAGR of XX % throughout the forecast period owing to the rising sales of consumer electronics in the IT and corporate sector. For instance, according to the Retailers Association of India (RAI), the production of consumer electronics in India stood at US$ 72.38 billion in 2019, which rose to US$ 89.38 billion in 2020.
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Across the geographical horizons, the docking station market in the North American region is teeming with attractions such as a flourishing IT sector and progressive adoption of IoT devices.
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Besides, the Asia Pacific region is posing positive prospects for the docking station market in the light of mounting penetration of smartphones and increasing disposable incomes.
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Global Docking Station Market, by Dock type (Mobile Device Docks, Laptop Docks, and Hard Drive Docks), by Technology (Wireless Docks and Wired Docks), by Application (Residential and Commercial) and by Region (North America, Asia Pacific, Latin America, Europe, Middle East, and Africa), is projected to attain a market valuation of US$ XX million in 2021 and is anticipated to grow at a CAGR of XX% during the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.
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