Albany - NY, Aug. 11, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Docking Station Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", the global docking station market was worth US$ 4.20 Bn in 2013 and is expected to reach US$ 6.02 Bn by 2020, growing at a CAGR of 5.3% from 2014 to 2020. North America was the largest market for docking station in 2013 which accounted for around 45% of the global market revenue. Growth in this region is expected to be driven by wide adoption of docking stations in enterprise environment.
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The docking station market is driven by various factors including proliferation of handheld devices along with the rising trend of BYOD and CYOD policies and high advantages of docking stations for mobile device users. Bring your own device (BYOD) is the concept of allowing the employees to use their own personal devices for office-related work. This may include laptops, tablets, and smartphones. Choose your own device (CYOD) is another rising trend in workplaces, in which the organization allows its employees to select a device from a specified range of devices. This enables the organization to establish more control over the devices selected by employees to handle company information. Most devices selected in the BYOD and CYOD policies are tablets and personal laptops. However, these devices offer limited connectivity to external peripherals compared to desktop computers. Docking stations enable users to connect their portable devices with simple connection to numerous external devices such as keyboards, mouse, printers, and with other network devices. This is the most significant factor boosting the growth of docking station market in organizations. However, availability of cheaper alternatives to docking stations and lack of standardization in the docking stations are some of the factors restraining the market growth.
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Among different product types, laptop docking station segment was the largest and accounted for around 55% of the market share in 2013. However, mobile device docking station segment is expected to witness strong growth during the forecast period. The docking station market is segmented on the basis of technology into wired and wireless docking stations. At present, wired docking stations account for the largest share in terms of revenue in the global docking station market. Wired docking stations include traditional docks with proprietary snap-in connectors and single cable docks. Single cable docks consist of Thunderbolt docks and USB Type-C docks that deliver power as well as data transmission. Wireless docks include docks based on WiGig and Wi-Fi. WiGig docks provide wireless transmission of data. Some WiGig-based wireless docks provide wireless charging while others require a separate power cable for charging.
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In terms of application segments, commercial segment held the largest market share in 2013 accounting for around 88% share of the global market. This is due to the wide adoption of docking stations in small and medium-scale enterprises (SMEs) and large enterprises. Due to the advanced features of docking stations such as wireless charging, a greater number of USB 3.0 ports, and increasing trend toward BYOD and CYOD, the market for docking stations is witnessing increased adoption in commercial applications.
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Geographically, North America was the largest market for docking stations in 2013 that accounted for around 45% share of the global docking station market owing to the increase in adoption of docks in enterprise environment. Moreover, universal docking stations offer greater flexibility to consumers and commercial users and provide a low-cost alternative to port replicator and OEM docking stations.
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The global docking station market, in current situation shows the dominance of few players including Dell Inc., Toshiba Corporation, Hewlett-Packard Company, IBM Corporation, Lenovo Group Ltd., ASUSTeK Computer Inc., Sony Electronics Inc., Belkin International, Inc., Targus Corporation, and StarTech.com.
The global docking station market is segmented as follows:
Docking Station Market Analysis, by Type
- Laptop Docks
- Hard Drive Docks
- Mobile Device Docks
Docking Station Market Analysis, by Technology
- Wired Docks
- Wireless Docks
Docking Station Market Analysis, by Application
- Commercial
- Residential
In addition, the report provides cross sectional analysis of the docking station market with respect to the following geographical segments:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa (MEA)
- Latin America
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.