Hybrid Devices Market report, published by Allied Market Research, forecasts that the global market is expected to garner $30.92 billion by 2022, growing at a CAGR of 25.6% during the period 2016 – 2022. Asia-Pacific is expected to be the largest market for hybrid devices during the forecast period owing to the growth in personal use, educational institutions, and IT & telecom sectors.
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The hybrid devices are categorized based on different types of convertible and detachable hybrid devices. Detachable devices constitute the highest market share due to their lightweight nature and convenience of use. Nonetheless, convertible devices are estimated to portray the fastest growth owing to multi-mode view and the availability of extra battery space in the device that increases battery life.
Devices with screen size 12 inch-15 inch are projected to dominate the market owing to their size and lighter weight. However, devices with the screen size greater than 15 inches are expected to depict the fastest growth in the market pertaining to the superior space for better viewing capability.
Asia-Pacific currently constitutes the highest market share in the global hybrid devices market on account of economic development in the region paired with increasing number of tech-savvy customers. LAMEA is expected to witness the fastest growth over the forecast period, at a CAGR of 26.5% owing to the increasing number of internet users paired with the increasing acceptance of the hybrid devices in the educational institutions.
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Key findings of Hybrid Devices Market:
- Detachable hybrid devices market is expected to exhibit a remarkable growth during the forecast period, owing to the lighter weight as compared to a convertible hybrid.
- Devices with screen size 12 inch-15 inch contribute the highest market share pertaining to the highly accepted size and light weight of the device as compared to the device above 15-inch screen size.
- Others segment, which comprises educational institutions, retail, healthcare, and government among others, depicts the strongest market for hybrid devices.
- Asia-Pacific region is expected to exhibit promising growth owing to the increasing adoption of hybrids by end users in the region.
The market for hybrid devices comprises dominant players such as HP Development Company, L.P., Microsoft, Lenovo, and others. These market players primarily focus on the development of new features, the launch of innovative products with exceptional variations, and adoption of R&D and acquisition as their key strategies to establish their position in the market.