Since past few years, there has been a significant inclination towards different work habits, such as employees working out of the office premises, increased usage of mobile devices such as laptops and tabs with cloud-based data storage facilities to accomplish business tasks. This increased in the enterprise mobility is boosting the demand for hybrid device market worldwide, states Transparency Market Research (TMR) in its recent research report. Some of the key players in the market are ASUSTeK, Lenovo, and Hewlett-Packard. Samsung Corp., Microsoft Corp., Acer Inc., Dell Inc., Fujitsu Ltd., Toshiba Corp., and LG Corp. are some of other significant firms flourishing in hybrid devices market across the world. ASUS has recently launched its ZenBook Flip S, a hybrid device with a 360-degrees flip display, with Windows 10 operating system. Another leading company, Dell has also introduced some latest addition in its gaming system – two new members in Alienware gaming monitors, and one in Inspiron models as well that allows several storage devices to be configured. The firms are constantly revamping and innovating latest products in order to maintain their position in the market and flourish more.
As reported by a TMR analyst the global hybrid device market is anticipated to experience a robust growth with a CAGR of 20.80% from the duration 2015 to 2024. The market was evaluated to be worth US$ 5.1 bn in 2014, which is likely to reach around US$ 31.8 bn by the end of 2024. Based on end-users, the personal use segment was anticipated to rule the demand for hybrid device with an evaluation of revenue, worth US$ 1.6 bn in year 2014. This segment is expected to continue dominating the market demand. In telecom and IT sector, the demand is foreseen to be boosted with a whooping CAGR of 25.6% from year 2015 to 2024. As per the geographical segments, Asia Pacific is the leading segment among the rest of them. This region is anticipated to foresee the solid growth in coming years because of the economic development in countries such as India, China, Japan, South Korea, and Australia. The revenue of the region is likely to be evaluated around US$ 10.4 bn by the end of 2024.
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Growing Awareness among the Companies Boosts the Market Demand for Hybrid Devices
With the fast-moving lifestyle, there has been a surge in demand for gadgets with increased battery life. This has been one of the major contributing factor for the growth in hybrid devices in the global market. These devices have several advantages to it such as safe and beneficial storage of information, navigation with the help of touchscreen and stylus, and many others. There has also been a rise awareness among the firms about these devices that fuels its market demand. The significant growth in hybrid devices and enterprise mobility are anticipated to stir up the demand for global hybrid devices market.
High Cost of the Devices Contributes to be a Key Factor in Obstructing the Market Growth
Although the devices have several advantages, but its market growth is also estimated to witness a downfall owing to its high product cost. Moreover, these devices are to be hampered by the factors such as low battery life. Moreover, these devices are heavier than the conventional ones. Nevertheless, after the emergence of wireless display (WiDi) technology the market is expected to experience some shoot up in terms of revenue and growth. Some regions in comparison to others are more inclined towards the changing trend and therefore are adopting the latest technological innovations earlier than others. Additionally, with the launch of Windows 10 in the market, there has been a decline in the usage and sales of older PCs and tablets. These devices have been replaced by hybrid devices. These factors fuel the soaring demand of these gadgets in the global market. Such factors that are time-efficient, easy to operate, and with proper storage capacity are fueling the growth of hybrid devices in the global market.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Hybrid Device Market – (Device Type – Detachable Hybrid Device and Convertible Hybrid Device; Screen Size – Less Than 12 inch, 12 inch to 15 inch, and Greater Than 15 inch; End-user – Retail, personal use, Healthcare, Telecom and IT, Educational Institutions, Others (Government, Banking, and transportation) Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2024.”
The global hybrid devices market is segmented as follows:
Hybrid Device Market Analysis, by Device type
- Detachable Hybrid Device
- Convertible Hybrid Device
Hybrid Device Market Analysis, by Screen Size
- Less than 12 inch
- 12 inch to 15 inch
- Greater than 15 inch
Hybrid Device Market Analysis, by End-use Industry
- Retail Industry
- Personal use
- Healthcare Industry
- Telecom and IT Industry
- Educational Institutions
- Others (Banking, Government, Transportation)
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