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 2022. 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 2022. 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 2022. 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 2022.
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.
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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.