Press release
Roundup of Hybrid Device Market: Demand Gains Momentum from Rising Need for Devices with Increased Battery Life
Going forward, these hybrid device manufacturers have better prospects for growth due to robust research and development capabilities and strong technical expertise. Other prominent players, such as Dell, Acer, and Toshiba, need to focus aggressively on promotions to enhance their market presence.
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Demand for Hybrid Devices Gains Momentum from Rising Need for Devices with Increased Battery Life
Nowadays, electronic devices, such as mobile phones, laptops, and tablets are no less important than oxygen for individuals. However, consumers have been facing severe issues with the draining batteries of these devices. This factor has led to a shift in the consumer preference for devices with improved battery life. “Since hybrid devices are assembled with two batteries for augmented operational time, their demand has increased remarkably in the recent times,” states an analyst at TMR.
Apart from this, the growing need for enhanced enterprise mobility and the integration of touchscreen technology in these devices are also fueling their demand substantially across the world.
High Price Associated with Hybrid Devices Hamper Demand
On the other hand, the high prices of hybrid devices are creating hindrance in their adoption at a broader level. These devices are relatively heavy than the traditional ones, which is another factor limiting the demand for these devices considerably. However, the advent of wireless display (WiDi) technology is projected to open new avenues for market growth in the coming future. Developed by Intel, the WiDi technology allows users to stream videos, photos, movies, and music from a compatible laptop or computer to a compatible HDTV sans a wired connection.
The rising awareness regarding the usability of this technology in connecting hybrid devices to television sets is likely to present a potential opportunity for hybrid device manufacturers over the next few years.
North America to Lose Ground to Asia Pacific by 2022
As per TMR’s estimates, the overall opportunity in the global market for hybrid devices will increase from US$5.1 bn in 2014 to US$31.8 bn by 2022, expanding at a CAGR of 20.80% between 2015 and 2022. North America led the global market in 2014 with a share of 32.1%, attaining a value of US$1.6 bn in revenues. Asia Pacific, however, is likely to surpass North America in the near future with revenue reaching US$10.4 bn by 2022. The economic development and the increasing need for enterprise mobility in nations such as India and China are projected to drive the demand for hybrid devices considerably in this region in the coming years.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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