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Hybrid Device Market : An Insight On the Important Factors and Trends Influencing the Market

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September 13, 2017 in Technology

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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.

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 2022, increasing its valuation from US$5.1 bn in 2014 to US$31.8 bn by the end of 2022.

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.

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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.

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.

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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.

Detachable devices will continue being the most preferred hybrid devices throughout the forecast period. The demand for hybrid devices with a screen size of 12 inches to 15 inches will remain the strongest in the years to come. The personal use segment will retain its leadership among end-use segments over the next few years, states TMR.

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