Docking Station Market to Reach US$ 13.1 Billion by 2031: Notes TMR Study

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Jul 14, 2022, 20:30 ET

Ease of connecting to multiple portable devices including compatibility to peripherals key benefit impelling adoption of products in docking station market; adoption of laptop docking station to generate sizable revenues
Newer products expand connectivity options through multiple ports; Asia Pacific market to witness substantial lucrative opportunities, propelled by application in offices and gaming zones

WILMINGTON, Del., July 15, 2022 /PRNewswire/ -- Key docking station manufacturers are leaning on unveiling products that enable the users to customize the computing environment by allowing them to connect laptops with several external devices and peripherals. Best docking stations are sleek and compact products that feature multiple ports ultra-fast data transfer speeds among connected device. The size of docking station market is forecast to reach US$ 13.1 Bn by 2031.

The compatibility of portable with wide range of peripherals is offering augmented benefit to users in gaming and in office working environments. Manufacturers aiming to offer best laptop docking stations are thus tapping into the avenues in bring your own device (BYOD). Users of smart gadgets are looking for universal docking stations to capitalize on the opportunity of high-speed wireless internet connections and internet of things (IoT) devices. The growing demand for smart consumer devices for safety, convenience, and control is also catalyzing the prospects of docking station market.

In offices, the demand for universal docking stations has risen, bolstering the revenue potential for the manufacturers in the docking station market. Docking station for laptops are aimed at increasing the flexibility in work for employees using portable devices. Prevalent use of tablets and personal laptops in of BYOD and CYOD (choose your own device) has catalyzed the sales of docking station for laptops.

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Key Findings of Docking Station Market Study

Demand for Laptop Docking Stations Underpins Vast Revenue Potential: The market prospects for docking stations are growing on the back of their use for enhancing productivity at work. Their application for connecting potable devices to a wide range of peripherals has steered revenue generation in the docking station market. Of note, the use of docking stations for connecting several external hard drives, external speakers, printers, and scanners has increased. Additionally, they feature highly functional USB-A and C ports. Rise in trend of using multiple portable devices for multitasking at offices has impelled the demand for products in the docking station market.
Functionality of Connecting Multiple Ports Expanding Productivity: Multiple ports segment is projected to account for the leading share of the market during the forecast period. Rise in use of docking stations for gaining access to multiple ports is a key underpinning for lucrativeness of the segment. Product manufacturers are expanding the features, notably incorporating USB ports for Ultra HD 4K resolution.

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Docking Station Market: Key Drivers

Advancements in wireless connection infrastructure notably access to high-speed connection in several parts of the globe, coupled with the penetration of smart consumer gadgets, is a key driver for the need for connecting multiple devices. The trend has boosted the market prospects of docking station.
Increasing trend of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) especially among millennials is a key driver for the evolution of the docking station market.

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Docking Station Market: Regional Growth Dynamics

North America held a key revenue share of the global docking station market in 2021. It is expected to maintain its lead during the forecast period. The prominence can be attributed to the massive uptake of docking stations in the U.S. and Canada.
Europe is another lucrative docking station market. Rise in trend of using multiple peripherals among residential and commercial users has fuelled the growth.
Asia Pacific is anticipated to witness rapidly increasing lucrative opportunities during the forecast period

Docking Station Market: Key Players

Product diversification and mergers and acquisitions are some of the marketing strategies by leaders. Some of the prominent players are HP Development Company L.P, Lenovo Group Limited, Dell Technologies Inc., ACCO Brands, StarTech.com Ltd, and Targus Corporation.

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Docking Station Market Segmentation

Product Type

Universal
Proprietary

Port

Single
Double
Multiple

Connectivity

Wired
Wireless

Connection Technology

USB-C
USB-A
THUNDERBOLT 3
USB-C/THUNDERBOLT 3

Application

Laptops
Mobiles
Tablets
Hard Drives
Others

Distribution Channel

Online

Company Owned Sites
E-commerce Portals

Offline

Multi- brand electronic stores
Others

Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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