Docking stations allows users to connect their portable devices to various external devices such as printers, mouse, keyboards, and other networking devices. The increased use of mobile devices such as smartphones, tablets, and notebooks is expected to prop up the demand for docking stations in the near future. The global docking station market was valued at US$4.20 billion in 2013 and is expected to reach US$6.02 billion by the end of 2020, exhibiting a progressive 5.3% CAGR between 2014 and 2020.
The global docking station market is also driven by factors such as the progressive development of handheld devices, the rising trend of CYOD and BYOD policies in organizations, and the advantages of docking stations for mobile device users. On the other hand, the availability of cost-effective substitutes to docking stations and lack of standardization in the docking stations market is expected to hamper market growth.
The global docking station market has been segmented on the basis of types, which are mobile device docks, laptop docks, and hard drive docks. Among all the products, laptop docking stations held the largest share in the global market in 2013, which amounted to 55% of the global docking station market. Nevertheless, the mobile device docking stations segment is anticipated to grow at a robust rate in the near future.
On the basis of technology, the global docking station market has been classified into wired docks and wireless docks. In 2013, wired docking station held the largest market share owing to its numerous advantages over wireless docking stations such as security issues, low cost of purchase, lack of video lag, and superior connectivity. However, thanks to the falling prices of new wireless docking stations, the adoption of wireless docking stations is anticipated to increase in the near future.
CYOD and BYOD to Boost Commercial Application of Global Docking Station Market
The global docking station market has been divided according to its application into commercial and residential types. In 2013, the commercial application segment held an overwhelmingly dominant market share of more than 88% of the global docking station market. The large share is due to the increased adoption of docking stations in large, small- and medium-scale enterprises. Owing to the greater number of USB 3.0 ports, advanced features of wireless charging, and increasing preference for choose your own device (CYOD) and bring your own device (BYOD) policies, the market for docking stations is experiencing increased preference in commercial applications.
North America Led the Global Docking Station Market in 2013
The global docking station market has been segmented geographically into regions such as Europe, North America, Latin America, the Middle East and Africa (MEA), and Asia-Pacific. Among all the regional segments, in 2013 North America dominated the docking stations market, accounting for around 45% of the global docking station market. North America’s dominance was due to the rising preference for docks in the enterprise environment, which is prevalent in North America’s developed, urbanized, and affluent lifestyle. In addition, universal docking stations provided more flexibility to customers and commercial users and offered a cost-effective substitution to OEM docking stations and port replicator.
Innovative Products from Key Players to Shape Competitive Docking Station Market
The global docking station market is extremely competitive owing to the pressing need for the development of innovative products. Some of the key market players dominating the global docking station market include ASUSTeK Computer Inc., Hewlett-Packard Company, Belkin International, Inc., IBM Corporation, Sony Electronics Inc., Dell Inc., Lenovo Group Ltd., Targus Corporation, Toshiba Corporation, and StarTech.com.
Diversified product portfolios, global presence, and new product development in order to cope with the diversifying needs of users through significant investments in research and development are the major strategies adopted by key players to sustain their leadership in the global docking station market. In addition, these manufacturers focus on strengthening their distribution channels to increase their global presence.
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