Intense competition between Lenovo, ASUSTeK, and Hewlett-Packard outlines the competitive landscape of the global hybrid device market, finds a study by Transparency Market Research (TMR). The wide-ranging product portfolios have aided these enterprises in staying on the leaderboard in this market.
Going forward, these hybrid device manufacturers have better prospects for growth due to robust research and development capabilities and strong technical expertise. Other prominent players, such as Dell, Acer, and Toshiba, need to focus aggressively on promotions to enhance their market presence.
Demand for Hybrid Devices Gains Momentum from Rising Need for Devices with Increased Battery Life
Nowadays, electronic devices, such as mobile phones, laptops, and tablets are no less important than oxygen for individuals. However, consumers have been facing severe issues with the draining batteries of these devices. This factor has led to a shift in the consumer preference for devices with improved battery life. “Since hybrid devices are assembled with two batteries for augmented operational time, their demand has increased remarkably in the recent times,” states an analyst at TMR.
Apart from this, the growing need for enhanced enterprise mobility and the integration of touchscreen technology in these devices are also fueling their demand substantially across the world.
High Price Associated with Hybrid Devices Hamper Demand
On the other hand, the high prices of hybrid devices are creating hindrance in their adoption at a broader level. These devices are relatively heavy than the traditional ones, which is another factor limiting the demand for these devices considerably. However, the advent of wireless display (WiDi) technology is projected to open new avenues for market growth in the coming future. Developed by Intel, the WiDi technology allows users to stream videos, photos, movies, and music from a compatible laptop or computer to a compatible HDTV sans a wired connection.
The rising awareness regarding the usability of this technology in connecting hybrid devices to television sets is likely to present a potential opportunity for hybrid device manufacturers over the next few years.
North America to Lose Ground to Asia Pacific by 2022
As per TMR’s estimates, the overall opportunity in the global market for hybrid devices will increase from US$5.1 bn in 2014 to US$31.8 bn by 2022, expanding at a CAGR of 20.80% between 2015 and 2022. North America led the global market in 2014 with a share of 32.1%, attaining a value of US$1.6 bn in revenues. Asia Pacific, however, is likely to surpass North America in the near future with revenue reaching US$10.4 bn by 2022. The economic development and the increasing need for enterprise mobility in nations such as India and China are projected to drive the demand for hybrid devices considerably in this region in the coming years.
Detachable devices will continue being the most preferred hybrid devices throughout the forecast period. The demand for hybrid devices with a screen size of 12 inches to 15 inches will remain the strongest in the years to come. The personal use segment will retain its leadership among end-use segments over the next few years, states TMR.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Hybrid Device Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022.”
- The opportunity in global hybrid device market is expected to reach US$31.8 bn by 2022
- North America led the global market with a share of 32.1% in 2014
- Asia Pacific is likely to exceed North America by 2022 with an estimated revenue of US$10.4 bn
The global hybrid device market is segmented as follows:
By Device type
- Detachable Hybrid Device
- Convertible Hybrid Device
By Screen Size
- Less than 12 inch
- 12 inch to 15 inch
- Greater than 15 inch
By End-use Industry
- Retail Industry
- Personal use
- Healthcare Industry
- Telecom and IT Industry
- Educational Institutions
- Others(Banking, Government, Transportation)
- North America
- Rest of North America
- Rest of Europe
- South Asia
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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