According to a report by Transparency Market Research (TMR), personal device popularity has increased the demand for detachable hybrid devices, with the market expected to grow at a compound annual growth rate (CAGR) of 21.4 percent from 2105 to 2022.
The report by the market intelligence company forecasts the hybrid device market to grow to more than $31.8 billion by 2022. This growth is being driven by organizations that are adopting mobility solutions to provide access to company data to their employees independent of the workplace. Additionally, there is a growing collaborative trend taking place across all industries, which means enterprises demand access at all times; hybrid devices are making that possible.
The only challenges facing the market are the increasing prices of hybrids and the weight of the devices. Compared to smartphones, which now have the computing capability of regular desktops, hybrids are oversized for a society that is always on the go.
The report segmented the global hybrid market into devices based on screen sizes of less than 12, between 12 to 15, and more than 15 inches. Currently the small screens are dominating the market, but during the forecast period, larger screen sizes will experience the highest growth.
The market is primarily supported by personal users, who accounted for the largest revenue and volume share. That will not change until 2022, but retail, telecom and IT, healthcare and educational institutions will continue to grab shares of the market as more organizations adopt mobility solutions. Of these, the telecom and IT sector will see a CAGR of 25.6 percent, which will be the highest growth in terms of volume shipments during the forecast period.
As far as the best region for this segment, North America was the top market in 2014 in terms of revenue and volume sales. However, TMR predicts the Asia Pacific region will be growing at a substantial rate to pass North America in terms of revenue generation and volume sales, making it the number one region in the world for hybrid devices.
Key players in the global hybrid devices market are, Microsoft Corporation, Lenovo Group, ASUSTeK Computer Inc., Samsung Corporation, Hewlett-Packard Development Company, Acer Inc., Dell Inc., Toshiba (News - Alert) Corporation, Fujitsu Ltd., and LG Corporation.
Edited by Kyle Piscioniere