Report: Tablet shipments soon will top 250 million

Tablet sales are expected to experience a five-fold increase during the next five years, according to a new report from Juniper Research, as the popularity of the devices grows and more companies enter the market.

This year, Juniper said it expected tablet sales to top out at 55.2 million units. But, by 2016, that number will surpass 253 million, according to the research firm.

The efforts of original equipment manufacturers to catch the market-leading iPad will fuel sales growth during the next five years, according to Juniper. Not only will new devices be introduced to the market, but more companies will look to make a splash.

"With a second generation of Apple's iPad hitting the market earlier this year, other smartphone vendors have followed suit: HTC, LG, Motorola and RIM launched first generation models in 2011," the report stated.

According to a recent Infonetics Research report, Apple also continues to be a dominant player in the smartphone market. With its iPhone, Infonetics reported, the company has increased its revenue share each quarter this year, reaching 36 percent during the second quarter.