An emerging Number of Office Peripherals are expected to proliferate the docking station market | UnivDatos Market Insights

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NOIDA, India, Oct. 11, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Docking Station Market was valued at more than USD 1.3 million in 2020 and is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Product (Laptops, Smartphones & Tablets, Others); End-Use (Residential, Commercial, Industrial); Connectivity (Wired, Wireless); Distribution Channel (Online, Offline); Region/Country.

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The Docking Station market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Docking Station market. The Docking Station market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Docking Station market at the global and regional levels.

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Market Overview

Docking stations are electronic portable plug-in devices that allow portable computers to connect with various devices. Essentially, the primary function of a docking station is to provide an extension for laptop ports, through an exclusive connector, which is generally on the laptop's side connected to the rear of the docking station.  A rise in internet penetration and increasing use of portable devices among consumers has led to the growing market for docking stations. As of 2021, the global average internet penetration is 65.6%, in which North America region is the leading region with 93.9% whereas Africa has the lowest penetration with 43.2

A rise in the smartphones user across the globe owing to the availability at affordable prices, and numerous players available in countries are some of the prominent factors, due to which the demand for the docking stations is on the rise. Moreover, the benefits of docking stations such as It charges the phone and can also connect it to a 4K monitor, USB devices, and memory cards. The docking station can be connected to a 4K monitor and performed seamlessly, delivering up to 15W power to the device. One can use the split-screen function that allows using the phone independently for calls without interruption or one can mirror your phone screen on the bigger one.

COVID-19 Impact

During the COVID-19 pandemic, the demand for PCs and laptops witnessed a sharp rise. As per IDC, Global shipments in the traditional PC market, which includes desktops, notebooks, and workstations, jumped 14.6% year-over-year to 81.3 million units in the third quarter of 2020. Dell Technologies Inc forecast current-quarter sales above market expectations as a pandemic-driven shift to remote work and learning-powered demand for its desktops and notebooks, helping it post a surprise rise in third-quarter revenue. So, with the growing demand for laptops, PC, and tablets, the demand for docking stations also witnessed a sharp rise. However, the border closure, nationwide lockdown, and supply chain interruptions led to the shortage of semiconductors, which restricted the growth of the market.

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The global Docking Station market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on product, the market is classified into Laptop, Smartphone & Tablet and Others (Power Banks, Smart Watches). Amongst products, the floor & category accounted for a significant share in the market. The wide availability of smart, cost-effective, and portable laptops across countries is one of the prominent factors driving the growth of this segment. As per IDC, the global shipments of traditional PCs are expected to hit 344.7 million units by the end of 2021. Moreover, the growing use of laptop and PCs and the application of docking stations in industries such as e-commerce, supply chain, and warehouse management are contributing to the market growth.
• Based on connectivity, the market is categorized into wired and wireless. Among these wired segments grabbed the major market share and dominated the market in 2020. Wired docking stations are widely used in the IT industry owing to the high degree of convenience associated with these products. These devices enable high-speed data transfer, which is crucial in the IT industry. Furthermore, wired docking stations connect portable devices to monitors or desktops through an HDMI cable or DisplayPort. However, the wireless segment is expected to witness the highest CAGR during the forecast period.

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Docking Station Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
• Rest of the World

North America is expected to witness the highest CAGR during the forecast period as the region is characterized by the presence of many service providers, especially in the United States. Moreover, the rising usage of docking stations owing to a rapidly expanding IT sector coupled with the increasing popularity of BYOD to name a few. Additionally, rising infrastructure spending coupled with favorable policies for an expanding nature will increase the footprint of the docking station market during the advent of the forecast period.

The major players targeting the market include

• Targus
• StarTech.com
• Dell Technologies Inc.
• ACCO Brands Corporation
• Lenovo Group Limited
• HP Development Company L.P
• Plugable Technologies
• TOSHIBA CORPORATION
• Acer Inc.
• Samsung Electronics Co., Ltd.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Docking Station market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Docking Station market?
• Which factors are influencing the Docking Station market over the forecast period?
• What are the global challenges, threats, and risks in the Docking Station market?
• Which factors are propelling and restraining the Docking Station market?
• What are the demanding global regions of the Docking Station market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Docking Station Market Report Coverage

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