According to the research conducted by KD Market Insights which titled as “Docking Station Market – By Type (Laptop Docking Station, HDD Docking Station, Others) By End User (Business, Household, Government, Others) By Bus Type (USB 3.0, USB C, WiGig, Thunderbolt 2, Thunderbolt 3, Others) By Display Supported (One, Two, More than Two) By Price Range (High, Medium, Low) By Distribution Channel (Online Stores, Offline Stores) & Global Region – Market Size, Share, Trends and Forecast 2018-2024“, report offers a deep insights of global market of docking station industry. Global docking station market accounted for USD 1,494.80 Million in 2018 and is estimated to reach notable revenue by 2024, registering a compound annual growth rate (CAGR)of 5.6% between 2019 and 2024.
Growing Trend of BYOD
Bring-your-own-device (BYOD) policies have become common within enterprise organizations and are anticipated to continue with its exponential growth in the upcoming years. Bring-your-own-device (BYOD) trend is being accepted into various industries such as I.T., healthcare, education, and manufacturing. Owing to this BYOD trend, the number of devices in workplaces are also witnessing growth. BYOD is already a global phenomenon to some extent, being well established in the U.S. and Europe, but 2020 could well be the year that it spreads beyond early adopters in APAC and LATAM countries. The docking stations are ideal for BYOD or CYOD work environments since they can reduce the problem related to a bunch of cords and offer a clean and ideal working environment to the employees. These factors are envisioned to bolster the growth of the market during the forecast period.
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The rise in the Number of Office Spaces
Docking stations are ideal solutions for the workspaces as they offer more convenience to the employees. Docking stations are perfect solutions for travel stations used for rotating employees, guests, or visitors. Other advantages of docking stations such as clean, clutter-free workspace, space-saving, and increased workstation productivity are fueling the adoption rate of the docking station in office spaces.
Like every other technology, the docking station has gone through many technological evolutions. Today docking stations are carrying remarkable features and can fulfil every expectation of the users. Docking stations are more advanced, convenient, and functional than ever. Features such as additional charging, multiple monitors connectivity, and high-speed data transfer are some of the many essential features of docking stations, which are responsible for strong demand for docking stations.
Additionally, the introduction of WiGig technology is also a key driving factor that is encouraging the demand for docking station across the globe. Also, manufacturers of docking stations are spending vast money on R&D activities and innovations of docking stations. The manufacturers are introducing docks, which are more convenient and functional. For instance, the introduction of a universal docking station, which is bringing more convenience to shared and agile workspaces. These rapid technological advancements with a docking station will act as driving factors for the global docking station market in upcoming years.
With respect to type, the market is segmented into the laptop docking station, HDD docking station and other docking stations, out of which, laptop docking station segment shared approximately 72.6% of the global market in 2018. Further, in the type segment, laptop docking station segment is expected to be the most attractive market in the global docking station market over the forecast period. Further, this segment is projected to open new avenues for the market players and to be the most lucrative market over the forecast period.
The market is also segmented by end-user, display support, connectivity, distribution channel, and price range segments. Further, the end-user segment is comprising of businesses, schools, households, and others. The distribution channel segment is further sub-segmented into online stores and offline stores. Apart from this, the connectivity type segment is further separated into USB 3.0, USD C, WiGig, Thunderbolt 2, Thunderbolt 3, and others.
In terms of geography, the docking station market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In the docking station market, North America is projected to capture a significant market share over the forecast period. North America docking station market is expected to reach USD 862.7 Million by the end of 2024 from USD 694.1 Million in 2018. The market value of the North America docking station market is expected to rise at a CAGR of 3.7% over the projected period.
The key players profiled in the report include Dell, HP, startech.com, Lenovo, and other major key players. These market players have adopted different business strategies, such as acquisition, product launch, merger, and partnership, to stay competitive in the global market. Within the overall robust consumer electronics industry, innovation takes many shapes. From the newer, more efficient and high-speed data transfer technologies, to an innovative design that makes product adherence less burdensome, to the adoption of portable and thin computers that are reshaping global computer accessories consumption, there is no shortage of inspiration for successful new launches. In January 2018, Lenovo launched of Thunderbolt 3 Graphics Dock with inbuilt GTX 1050 GPU.
The market is shifting to thinner laptops with fewer ports, hence limiting their display, peripheral and USB fast-charge capabilities. To overcome such problems, consumers are adopting docking station, which let them add extra ports, features, or enhanced functionality to modern, slimmer laptops. Also, the docking station can quickly turn any laptop into the ideal workstation solution. Further, the growing trend for portable workstations is another primary growth driver to the global docking station market.
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– Laptop Docking Station
– HDD Docking Station
– USB 3.0
– USB C
– Thunderbolt 2
– Thunderbolt 3
By Display Supported
– More than Two
By Price Range
By Distribution Channel
– Online Stores
– Offline Stores
– North America (U.S. & Canada)
– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
– The Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa
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