Hybrid devices market to reach $151.88 bn globally by 2030

Allied Market Research recently report, the global hybrid devices industry was pegged at $30.06 billion in 2020, and is expected to reach $151.88 billion by 2030, growing at a CAGR of 17.6% from 2021 to 2030.

Major determinants of the market growth
High demand for devices with longer battery life, use of touchscreen technology, and surge in acceptance of hybrid devices for enterprise mobility have boosted the growth of the global hybrid devices market. However, higher price compared to other computing devices and heavy weight hinder the market growth. On the contrary, use of wireless display technology and increase in acceptance of hybrid devices would open new opportunities in the future.

Covid-19 scenario:

• The Covid-19 pandemic positively affected the IT sector due to surge in demand for digital solution and increased adoption of work from home culture. Moreover, increased demand for computing devices for browsing, presenting files and data, and examining during the pandemic supplemented the market growth.
• However, the prolonged lockdown and ban on electronic devices from China created a supply demand gap and disrupted the supply chain.

The convertible segment to manifest the highest CAGR through 2030
By type, the convertible segment is estimated to portray the highest CAGR of 20.0% during the forecast period, as the hybrid devices come with detachable hinges, adjustable stands, and design best-suitable for higher productivity and portability. However, the detachable segment held the largest share in 2020, accounting for nearly three-fifths of the global hybrid devices market, due to rise in adoption of convertible devices by the end user.

The IT and Telecom segment dominated the market
By end user, the IT and Telecom segment held the largest share in 2020, contributing to nearly one-third of the global hybrid devices market., due to number of IT & telecom organizations use hybrid devices because of functionalities including longer battery life, remote manageability, and responsiveness to empower the government workers. However, the personal use segment is projected to manifest the highest CAGR of 19.9% during the forecast period, as to explore the fully featured laptop with east of tablet for viewing various information.

CT Bureau