Global Hybrid Devices Market is Estimated to Witness High Growth Owing To Increased Productivity and Portability
The Global Hybrid Devices Market is estimated to be valued at US$ 38.24 Bn in 2024 and exhibit a CAGR of 17.8% over the forecast period 2024-2031. Furthermore, continuous innovations and advancements in technology is fueling the hybrid devices market growth.
Market Dynamics:
Increased productivity and portability has been a major driver facilitating the growth of the global hybrid devices market. Hybrid devices such as 2-in-1 laptops and tablets allow users to both write as well as browse simultaneously offering increased productivity. Their lightweight and compact nature with the versatility of a laptop as well as tablet makes them highly portable.
Another key driver has been the growing demand from millennials and generation Z who prefer hybrid devices owing to their multi-functional nature and flexibility. Hybrid devices seamlessly switch between tablet and laptop modes based on requirements. Manufacturers are also focusing on developing cutting edge, premium and durable hybrid devices with advanced features and specifications to appeal to this demographic driving market revenues.
Rising demand for co-existing personal and professional use of devices
One of the major drivers for the global hybrid devices market is the rising demand for devices that support both personal and professional use. With more people working remotely and requiring the flexibility to use a single device for both personal and work purposes, hybrid devices that can switch between operating systems or have dual/multi operating systems are gaining traction. Hybrid devices allow easy switching between personal and work profiles while maintaining security and privacy for work-related applications and data. This co-existing use model eliminates the need to own and carry multiple dedicated devices, thereby driving the demand for hybrid laptops, tablets and other hybrid form factors.
Increasing preference for versatile devices with detachable accessories
Another key driver is the increasing consumer preference for versatile devices that can be used in different modes depending on requirements. Devices with detachable keyboards, pads or other accessories allow switching between tablet, laptop or standalone modes. This versatility enables hybrid usage across different environments like working from home or coffee shops, leisure travel or multimedia consumption. OEMs are responding to this demand by launching devices with detachable components like hybrid laptops that convert into tablets and tablets that can connect to keyboards. The versatility of such 2-in-1 form factors is fueling their adoption over conventional devices having single fixed form factors.
Fragmented technology standards and ecosystems
One major restraint is the lack of common or universal technology standards for hybrid devices, resulting in an issue of fragmented ecosystems. Different OEMs leverage competing operating systems, processor architectures and technologies leaving users with less choice or compatibility issues. For example, devices supporting dual boot of Windows and Chrome need specialized hardware support. Similarly, hybrids with ARM and x86 compatibility have their own challenges. This heterogeneity limits seamless usage of applications and services across devices. It also affects developers willing to optimize for hybrids. Consumers end up facing a complex purchase decision due to incompatibilities.
High integration challenges and costs
The integration of multiple operating systems and components in a single form factor poses significant engineering and manufacturing challenges compared to dedicated devices. Ensuring smooth and optimized functioning of hardware and software across different modes requires extensive testing and debugging. Manufacturing thin and lightweight hybrids with stacked components while maintaining performance and battery life also increases costs. These complexities and higher bill-of-materials have kept initial prices of hybrids above conventional devices, dampening mass adoption rates especially in price-sensitive markets. OEMs are exploring newer design approaches and technologies to lower production costs over time.
Opportunity from the education sector
The education sector presents a major opportunity for hybrid devices to gain traction. Educational institutes are increasingly focusing on flexible and blended learning models. Hybrids offering both laptop and tablet modes can enable varied learning methods involving online classes, note-taking, multimedia and collaboration more effectively. Their versatility also supports diverse curriculum involving arts, sciences and technical subjects. Additionally, governments and education boards and exploring the potential of hybrid devices to facilitate affordable digital education on a large scale. This makes the education industry an attractive target vertical for OEMs to promote hybrid form factors.
Growing BYOD and corporate mobility trends
The bring-your-own-device (BYOD) trend where employees use personal devices for work is a key tailwind. By enabling both work and personal profiles, hybrids provide secure BYOD without compromising on usability. They allow convenient switching between work apps on desktop OS and personal apps on mobile OS. This makes hybrids an ideal choice for corporate mobility programs. Several large organizations are incentivizing the purchase of hybrid laptops and tablets through employee benefit programs. Hence, the demand from price-sensitive small businesses and government sectors for versatile and affordable BYOD-friendly hybrids is likely to rise significantly over the coming years.
Link: https://www.coherentmarketinsights.com/market-insight/hybrid-devices-market-4876
Key Developments:
- In March 2024, Cisco Systems, a global leader in networking and cybersecurity solutions, unveiled a range of innovative devices at Enterprise Connect aimed at enhancing collaborative experiences for the hybrid workforce. Among the new offerings are the Cisco Board Pro G2, an AI-powered collaboration device featuring touch capabilities, and the Cisco Desk Phone 9800 Series, designed to serve as a modern, customizable productivity hub for any workspace.
- In October 2023, LG Display, a leading global provider of display technologies, announced the development of new OLED material sets tailored for future Apple iPad and MacBook models. These specialized materials, branded 'RDE' for iPads and 'RDG' for MacBooks, are expected to enhance display efficiency, lifespan, and potentially enable new form factors like foldable devices.
- In January 2022, Acer Inc., a leading global technology company known for its innovative computing solutions, launched three new Chromebooks: the Chromebook 314, Chromebook 315, and Chromebook 513. These devices are designed for consumers seeking a secure, user-friendly, and affordable option for entertainment, productivity, and communication.
- In August 2020, Lenovo Group, a prominent global technology company, launched the new Lenovo 100e 2nd Gen and Lenovo 300e 2nd Gen laptops, both powered by AMD processors, specifically designed to enhance virtual reality (VR) education. These devices aim to support students and educators in adapting to evolving learning environments.
- In May 2020, Microsoft Corporation, a leading global technology company, unveiled the latest additions to its Surface line of devices - the Surface Book 3 and Surface Go 2. The Surface Go 2, a compact and affordable 2-in-1 tablet, is available in configurations starting at $399 for the base model with 4GB RAM and 64GB storage. The more powerful variant with 8GB RAM and 128GB storage is priced at $550. The Surface Book 3, Microsoft's premium laptop, starts at US$ 1,599 and features a detachable screen that transforms it into a tablet.
Key Players:
Acer Inc., ASUSTeK Computer Inc., Dell Technologies Inc., Fujitsu Limited, Hewlett-Packard Development Company (HP), LG Corporation, Lenovo Group, Microsoft Corporation, Samsung Electronics, Sony Corporation, Toshiba Corporation, Huawei Technologies Co., Ltd., Lenovo, Razer Inc., and MSI (Micro-Star International)
