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The players in the global hybrid device market have intense competition among themselves and thus, are focused on developing wide range of products. Expanding their product portfolios to remain dominant in the market is one of the key strategies adopted by leading players, says Transparency Market Research (TMR) in its new study. The leading players in the market are: ASUSTeK, Lenovo, and Hewlett-Packard. Thus, high investments in research and development are being done by market leaders. Players are also seeking to achieve technical expertise. Players such as Toshiba, Dell, and Acer are recommended to aggressively promote their products so as to boost their presence in the market.
According to the report by TMR the global market for hybrid devices will be worth US$31.8 bn by 2022. The market is expected to witness a stupendous CAGR of 20.80% from 2015 to 2022. On the basis of end users, the market is expected to be led by the personal use segment. However, it is the telecom and IT industry, which will expand at the fastest CAGR of 25.6% between 2015 and 2022. By geography, Asia Pacific is expected to be the most lucrative regional market in hybrid device, with China and India making the most contribution to the revenues, states TMR. The Asia Pacific hybrid device market is estimated to be worth US$10.4 bn by 2022 by revenue. North America was previously the leading regional segment in the hybrid device market. By type of device, the detachable device segment not only led in the past, but is expected to continue to do so in the coming years. on the basis of screen size, the 12 inches to 15 inches screen size segment will lead in the period from 2015 to 2022.
Rising Battery Drain Issues to Boost Demand for Hybrid Devices
The growing importance of smartphones, tablets, and laptops in the life of consumers is one of the key drivers of the global hybrid device market. This is because, with the growing use of these devices, there is an increasing consumption of battery. Many consumers are constantly facing issues such as battery drainage. This is fueling the demand for devices that have powerful battery. “As hybrid devices possess two batteries to improve the operational time, more and more consumers prefer these devices, driving the market across the globe,” states a TMR analyst. Another factor boosting the growth of this market is the rising need for improved enterprise mobility. The use of touchscreen technology in hybrid devices will also push their demand, driving the market.
Heavy Weight of Hybrid Devices to Pose a Challenge
The primary factor hampering the demand for hybrid devices is the high cost of these devices as compared to their traditional counterparts. Another factor challenging the market is the heaviness of hybrid devices. Conventional devices are light weight and thus, more preferred by many users. On a positive note however, the introduction of wireless display (WiDi) technology is expected to create growth opportunities in the market in the forecast period. As WiDi technology enables the streaming of photos, videos, music, and movies from computer or laptop to HDTV wirelessly, users are increasingly getting attracted towards this technology.