Global Hybrid Devices Market to Reach US$ 89.3 Billion by 2027, Impelled by Rapid Digitization

December 08, 2022

According to the latest report by IMARC Group, titled "Hybrid Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global hybrid devices market reached a value of US$ 32.8 Billion in 2021. Hybrid devices include various devices that are built with multiple functionalities of a digital and an analog computer. They work as analog units that are designed to carry powerful calculations and incorporate logical operations while providing efficient processing results of differential equations. They have readily available digital memory and are bifurcated into convertible and detachable devices, wherein the convertible option provides options for altering the devices by sliding, rotating and folding. On the other hand, the detaching devices include disengaging the device and making it a lightweight product that is easy to operate. Since they are multi-functional, portable and lightweight, there has been a significant increase in the demand for hybrid devices across the globe. 

Global Hybrid Devices Market Trends:

The global market is primarily driven by the widespread preference for hybrid devices among the masses. Since hybrid devices offer enhanced accuracy and efficiency, this is encouraging users to switch from conventional to hybrid devices, thereby catalyzing the market. Along with this, continual technological advancements in the functionality and mobility of hybrid devices are providing a boost to the product demand. Also, the escalating need for enhanced enterprise mobility across the corporate sector has significantly influenced the uptake of hybrid devices. Due to the widespread adoption of remote working models on account of the rapid outbreak of coronavirus disease (COVID-19), there has been a considerable increase in the demand for hybrid devices across the globe. Other factors, including rapid digitization and urbanization, easy product availability via offline and online organized distribution channels, the advent of home delivery models and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 89.3 Billion by 2027, exhibiting a CAGR of 18.07% during 2022-2027.

Market Summary:

  • On the basis of the type, the market has been segmented into convertible and detachable hybrid devices.
  • Based on the screen size, the market has been classified into less than 12 inches, 12 inches to 15 inches and greater than 15 inches.
  • On the basis of the end use, the market has been categorized into personal use, educational institutions, healthcare, IT and telecom, retail and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Acer Inc., ASUSTeK Computer Inc., Dell Technologies Inc., FUJITSU Limited, HP Development Company L.P, Lenovo Group Limited, LG Corporation, Microsoft Corporation, Samsung Electronics Co. Ltd and Toshiba Corporation.
     

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Global Hybrid Devices Market to Reach US$ 89.3 Billion by 2027, Impelled by Rapid Digitization
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