The prominent driver for the smartphone docks market is the rise in the savings of the people. Due to this, people have started spending more on luxury and smart items making it easy for the users to access all the devices from a single place. Moreover, many countries are urbanizing which is leading to the technological development of the countries. Furthermore, the smartphone market has grown tremendously in the last few years which have generated a need for the docking stations for ease and convenience. However, the price of a smartphone dock is quite high which might slow down the growth of the market. Nevertheless, the demand for the smartphone docks is rising in the Asia Pacific region which comes as an opportunity for the demand of the market to grow.
The smartphone docks market is segmented into technology, device, sales channel, and region. The technology segment is bifurcated into wired smartphone docks and wireless smartphone docks. The market size of the wireless smartphone docks is anticipated to increase over the forecast period owing to the technological developments taking place worldwide. Moreover, people have started investing and changing their standard of living by adopting such devices. Moreover, this technology helps in wireless charging too which makes it beneficial for users who work primarily through their phones. A wired smartphone dock enables a user to attach devices like mouse, display, keyboard to a smartphone by using just a single cable. However, this technology does not charge the device when connected to some other devices. This factor is leading to its decreased market size.
By sales channel, the segment is bifurcated into online and offline. The market size for online sales channel is predicted to increase owing to the rapid increase in the adoption of e-commerce. In this era, users have becomes busy in their lives and need everything in ease and at their doorstep. Hence, the market size of online sales channel is expected to increase over the forecast period. Moreover, many brands sell their products exclusively online to save on their costs incurred on an outlet. Offline sales channel is selling the product through an exclusive brand outlet or through other brands. This sales channel do not provide home delivery but lets the user try on their products and get a demo of it.
North America is expected to dominate the smartphone dock market over the forecast period owing to the technological advancements and the high adoption rate of the technology in the region. Moreover, the practice of carry your own device (CYOD) and bring your own device (BYOD) in IT companies is boosting the growth of the market in the region. Furthermore, North America consists of many airports wherein such technology of smartphone docks becomes suitable for the users to use it. It adds up on the service that can be provided to the travellers to have a hassle free journey.
The report covers forecast and analysis for the smartphone docks market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the smartphone docks along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the smartphone docks market on a global level.
As per the report, the global demand for smartphone docks market was valued at approximately USD 357 million in 2018, and is expected to generate revenue of around USD 2.3 billion by end of 2025, growing at a CAGR of around 12.3% between 2019 and 2025.
Asia Pacific is anticipated to show a rise in the demand for the smartphone docks market owing to the wide usage of smartphones in the countries such as India, China, and Japan. Moreover, rise in the presence of manufacturers, rapid expansion of IT companies, and technological inclination are few factors attributable to the growth of the market in the region.
Few prominent players in the smartphone docks market are Samsung, Philips, Native Union, Sony Corp., ILuv, Moxiware, ORICO, Swivl, Satechi and Ozaki International, among others.
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