Docking Station Market Size, Share, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Docking Station Market


The global docking station market size was valued at USD 1.10 billion in 2018 and it is projected to expand further at a CAGR of 5.6% from 2019 to 2025. Increased importance of these devices for numerous applications, including communication, data collection, inventory management, vehicle tracking, and merchandising, plays a key role in boosting the market growth.
For an efficient supply chain process, manufacturing and e-commerce industries require better warehouse management. As a result, these devices have been gaining significant traction in these sectors as they help enhance the efficiency of supply chain management by collecting the data instantly, securely, and accurately. In addition, growing popularity of Bring-Your-Own-Device (BYOD) work culture to reduce expenses and increase flexibility and efficiency is supporting the industry development.
 

Docking stations are majorly used for multi-monitor display setups and connecting mobile computing devices, such as tablets and smartphones, with monitors, keyboards, printers, etc. In addition, growing need for faster data transfer is fueling the demand for these devices, thereby augmenting the growth of the global market.
Furthermore, the development of technologies, such as USB-C, USB 3.0, and Thunderbolt, is playing a key role in boosting the market development. Manufactures in this market are focusing on improving the product designs to provide easy-to-use devices with more and enhanced functionalities. They are incorporating various wireless technologies, such as Wi-Fi, Bluetooth, WiGig, in their products considering the growing demand.
                                                                Connectivity Insights
The wired connectivity segment held the largest share of the global market in 2018 and accounted for more than 73% of the total revenue share. Wired products connect portable devices to a monitor or desktop through HDMI cable or DisplayPort. Wireless systems can be easily affected due to channel congestion and the internet efficiency may reduce data transfer speeds and reliability. Thus, wired products are preferred widely over wireless devices. However, the wireless connectivity segment is estimated to register the fastest CAGR from 2019 to 2025 due to incorporation of advanced wireless technologies with better efficiency. Some of these include WiGig, Wi-Fi, and Bluetooth.
Distribution Channel Insights
Offline distribution channel accounted for the largest share of the global docking station market in 2018. The offline stores allow consumers to check the products before buying and provide after-sales services. These advantages have been boosting the product sales through offline channels.On the other hand, the online distribution channel is projected to grow at the fastest CAGR from 2019 to 2025. Improved shipments and availability of a wider range of payment options boost the growth of the online segment. North America and Asia Pacific, in particular, are witnessing a notable growth in online sales of consumer electronics products.

Product Insights of Docking Station Market

The laptop docking station was the largest segment in the past. These products allow laptops to connect with other devices to convert it into a desktop computer. Users can connect their laptops to the universal port replicator to use monitor, printer, keyboard, mouse, external USB hard drive, speakers, etc. Moreover, most of the docks are compatible with Mac, PC platforms, Chrome OS, Android, and Linux, which drives the segment further.
 

The smartphones & tablets product segment is expected to witness the fastest CAGR over the forecast years. Rising use of smartphone devices is driving the demand for smartphone docks across the globe. These docks are generally used for high-quality music or video playback in external speakers or screens.

Regional Insights of Docking Station Market

North America led the global market in 2018 and accounted for more than 40% of the total revenue share. Extensive usage of docking systems due to rapidly expanding IT sector in countries, such as U.S. and Canada has fueled the growth of the regional market. Rising popularity of Bring-Your-Own-Device (BYOD) work culture is likely to boost the market growth further.
Asia Pacific is projected to witness the maximum growth rate of 6.7% from 2019 to 2025. Increasing penetration of IT companies in the countries, including China, Japan, and India, has been fueling the demand for the product in Asia Pacific. In addition, wide usage of smartphones and increasing purchasing power are expected to support the growth in this region.

Market Share Insights of Docking Station Market

The major companies in the market include The Targus Corp.; StarTech.com; Dell Technologies, Inc.; ACCO Brands Corp.; HP Development Company; Lenovo Group Ltd.; Plugable Technologies; Toshiba Corp.; Apple, Inc.; and Samsung Group. Market participants emphasize more on product development using innovative technologies to gain a higher market share. For example, The Targus Corp. launched USB-C Universal Quad 4K (QV4K) Docking Station. It is an enterprise-class universal dock that can support four 4K displays through its four DisplayPort. Furthermore, it is compatible with several Operating Systems (OS).

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Docking Station Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global docking station market report on the basis of product, connectivity, distribution channel, and region:


Product Outlook (Revenue, USD Million, 2019 - 2030)


Laptop


Smartphones & Tablets


Others


Connectivity Outlook (Revenue, USD Million, 2019 - 2030)


Wired


Wireless


Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)


Offline


Online