Hybrid Device Market Size and Growth Factors Research and Projection 2024

Hybrid devices are combination of two devices with similar features, allowing functionalities and productivity of both devices. For example, combination of laptop and tablets. Laptop is equipped with a detachable keyboard. Once keyboard is detached, the device can be used as tablet.

Demand of such devices are growing in IT, retail, and healthcare sector. The growth rate is attributed to light-weight, portability, and multi-functionality of the device.

Registering adoption rate of the device, manufacturers operating in the global hybrid devices market are introducing new designs. Hybrid devices are, further, categorized into detachable and convertible hybrid devices.

The convertible hybrid device provides options of converting the devices into a tablet by sliding, folding, or rotating the keyboard. On the other hand, detachable hybrid device can be converted into a lightweight tablet PC by disengaging the keyboard. In this case, users do not require to carry extra weight of the keyboard.

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Besides, on-going innovation in efficiency, productivity, and accuracy is the key driving factor for the global hybrid devices market. Technological developments in mobility and functionality of hybrid devices are entailing users to switch from conventional to hybrid devices.

The growing need for enhanced enterprise mobility has influenced the demand for hybrid devices significantly across the world. The growing demand for devices with increased battery life has also increased the adoption of hybrid devices at a rapid pace. Fast navigation with the help of a stylus or a touchscreen and convenient capturing and storage of personalized information are some of the prime benefits offered by these devices. The rising awareness regarding these advantages has increased their usage in business-related tasks, leading to a swift surge in their demand.

The opportunity in the global market for hybrid devices is anticipated to rise at a CAGR of 20.80% during the period from 2015 to 2024, increasing its valuation from US$5.1 bn in 2014 to US$31.8 bn by the end of 2024.

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Telecom and IT Sector to Emerge as Key Consumer of Hybrid Devices

Based on end users, the global market for hybrid devices is segmented into personal use, educational institutes, healthcare, retail, telecom and IT, and other end users such as banking, transportation, and government sectors. In 2014, the personal use segment led the overall demand for these devices and contributed a total of US$1.6 bn in terms of revenue.

Analysts predict the personal use segment to remain the key consumer of these devices; the telecom and IT industry, however, is likely to exhibit promising growth potential over the forthcoming years. The demand for hybrid devices is likely to expand at the fastest CAGR of 25.6% during the period from 2015 to 2024 in the telecom and IT industry.

The rising adoption of enterprise mobility and hybrid devices across this industry is expected to influence the growth of the overall hybrid device market significantly in the near future. Additionally, in terms of shipment volume, this segment is projected to register the highest growth in the market over the next few years.

Asia Pacific to Exhibit Fastest Growth Rate between 2015 and 2024

The global market for hybrid devices stretches across North America, Europe, Asia Pacific, Latin America, and the Rest of the World. North America has been the key consumer of these devices over the last few years, thanks to the early adoption of technology in this region.

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In 2014, North America generated a revenue of US$1.6 bn, accounting for a share of more than 32% in the overall market. The region is expected to remain dominant in the coming years due to the launch of Windows 10, the slowdown in the sales of tablets, and the increasing replacement of older PCs with new hybrid laptops and PCs.

On the other hand, Asia Pacific is likely to witness the fastest growth in the demand for hybrid devices over the next few years, owing to the economic rise in China, India, Japan, Australia, and South Korea. The region is expected to generate US$10.4 bn in revenues by 2024.

The global hybrid device market is led by Lenovo, ASUSTeK, and Hewlett-Packard. Other prominent manufacturers of hybrid devices across the world are Microsoft Corp., Samsung Corp., Dell Inc., Acer Inc., Fujitsu Ltd., LG Corp., and Toshiba Corp.