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The docking station market is estimated to grow at a CAGR of 3.2% and the size of the market is forecast to increase by USD 917.16 million between 2022 and 2027 . The growth of the market depends on several factors, including the increasing demand for docking stations for material handling, the increasing availability of universal docking stations, and the technological advances in docking stations.
This report extensively covers market segmentation by product (PCs, smartphones, and tablets), end-user (enterprise and residential), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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In 2017, in terms of market size, North America dominated the market with a share of USD 2,242.52 million. Additionally, US was the largest contributor of market share USD 1,687.05 million. The market segment PCs recorded the largest contribution in market share of USD 3,951.69 million and continues to grow.
Technavio categorizes the global docking station market as a part of the global information technology (IT) spending market. The parent global IT spending market covers revenue generated from the sales and subscription of IT services, communications services, cloud services, IT hardware, and IT software. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing demand for docking stations for material handling is notably driving the market growth, although factors such as the slow growth of the PC segment may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Docking Station Market Driver
The increasing demand for docking stations for material handling is the key factor driving the global docking station market growth. The adoption of mounting equipment such as computer docking stations, cradles, and peripheral devices in warehouse logistics equipment, including forklifts, pallet jacks, and mobile carts for material handling, will be one of the significant drivers for the market during the forecast period. Moreover, the growth of the manufacturing sector and the increasing intensity of competition in the e-commerce industry across the world necessitate the improvement of warehouse management for an efficient supply chain process. It is observed that manufacturing activities are expanding across regions, especially in China, Japan, India, Kenya, and countries in Europe and North America.
Docking station manufacturers offer different types of docking stations developed for the mounting of material handling equipment. For instance, US-based docking station manufacturer Havis designs, develops, and offers docking stations for various material handling solutions such as forklift applications, pallet jacks, and mobile cart applications. Smart factories are being converted into cyber-physical systems with the introduction of Industry 4.0, where various operational steps can be controlled through smart devices using the Internet, without the physical presence of supervisors or other workers. Thus, changes in operational structure and rapid implementation of Industry 4.0 will create a high demand for mobile computing devices and docking stations.
Key Docking Station Market Trend
The development of cross-platform compatible docking stations is a primary trend in the global docking station market. PC docking stations that are used for both multi-monitor display setup and data transfer are experiencing a usage limitation in terms of compatibility and decrease in performance. There is a rising trend in the development of docking stations that are cross-platform compatible without degrading the performance both in terms of display resolution and data transfer rate. Docking stations are available with extra switches to provide maximum throughput. Docking stations are also equipped with a physical switch that allows users to toggle between the modes of ports.
For instance, the switch can be toggled to USB 3.0 mode for high-speed data transfer and changed to display port/HDMI mode to connect two 4K UHD external monitors. Also, docking stations available with small sizes is ideal for a laptop for a productive workplace. Therefore, the rising trend of the development of these types of docking stations will positively impact the global docking station market in the near future.
Key Docking Station Market Challenge
The slow growth of the PC segment is a major challenge to the global docking station market growth. The PC segment includes laptops, desktops, and notebooks. In 2022, this segment dominated the adoption of docking stations. However, the slow growth of this segment acts as a challenge for the market. End-users of PCs include enterprises that use docking stations for business purposes and individuals that use them for both business and personal purposes. The unit shipments of PCs have been declining for the last few years due to various factors.
Residential users mainly use these computing devices for web browsing, accessing social networking sites, and watching videos. The high ease of use and portability of smartphones and tablets over desktop PCs and laptops make them an appropriate choice for residential users. This is leading to the slow demand for desktop PCs and laptops and adversely affecting the demand for PC docking stations, which are costlier than the docking stations used for mobile devices.
Key Docking Station Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Docking Station Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
accobrands.com - The company offers docking stations such as CA1000 USB Type C To USB Type A Adapter and UH4000 USB 3.0 4 Port Hub.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Based on product, the market is segmented into PCs, smartphones, and tablets. The market share growth by the PCs segment will be significant during the forecast period. The PCs segment includes desktops, laptops, and notebook computers for enterprises and individuals. A major portion of the demand for PCs is from enterprises, and it is expected to remain the same during the forecast period. PCs are used in almost all businesses and enterprises. Such factors will increase segment growth during the forecast period.
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Enterprises related to IT services, financial trading, gaming, and blockchain work on large sets of data or multiple programs simultaneously. This raises the necessity for PCs with a multi-monitor setup in enterprises. This is the major factor driving the demand for docking stations for docking multiple monitors. Moreover, the increasing use of laptops, both in enterprise and residential segments, is also expected to drive the demand for wireless docking stations for easy portability. The introduction of wireless docking stations from established vendors is positively impacting the market for the PCs segment during the forecast period.
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North America is projected to contribute 46% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The increasing smartphone user penetration is also expected to drive the demand for docking stations in the region. Residential users are increasingly accessing, downloading, and sharing content online. This is driving the need for computer peripherals such as USBs, power adapters, and others. Docking stations for smartphones incorporate charging ports, USP ports, and other added functionalities, making it easier for users to access applications conveniently. Some vendors operating in the region are focusing on expanding their product portfolio of gaming laptops. Such product launches can increase the demand for docking stations in laptops during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for North America. However, the vaccination measures and declined COVID-19 cases marked the recovery phase in the region in 2021. Also, the recommence of industrial operations, such as the manufacturing of smartphones, will positively drive the growth of the market during the forecast period. Such factors will fuel the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (PCs, Smartphones, and tablets), End-user (Enterprise and Residential), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
Docking Station Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.2% |
Market growth 2023-2027 |
USD 917.16 million |
Market structure |
Fragmented |
YoY growth (%) |
2.57 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 46% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACCO Brands Corp., Acer Inc., Apple Inc., Dell Technologies Inc., Eltako GmbH, Fujitsu Ltd., Havis Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Lenovo Group Ltd., Microsoft Corp., Panasonic Holdings Corp., Plugable Technologies, Samsung Electronics Co. Ltd., SilverStone Technology Co. Ltd., Sony Group Corp., StarTech.com Ltd., Targus Inc, Toshiba Corp., and VisionTek Products Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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