USB Device Market Size, $65,857.2 Million by 2028 Lead by Consumer Electronics, 9.3% CAGR - Exclusive Research Report by The Insight Partners

According to our new research study on "USB Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Device Standard Type (USB 2.0, USB 3.0, and USB 4.0), Product (Webcams, Flash Drives, Memory Card Reader, Digital Audio Player, USB Hub and Docking Station, Computer Peripherals, and Others), Connector Type (Type A, Type B, Type C, and Lightning Connector), and Applications (Consumer Electronics, IT and Telecommunication, Automotive, Healthcare, and Medical Devices, and Others)", published by The Insight Partners.

The USB device market size is projected to reach $65,857.2 million by 2028 from $35,339.3 million in 2021 to register a CAGR of 9.3% from 2021 to 2028.

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USB devises Market: Competitive Landscape and Key Developments

ADATA Technology Co., Ltd.; Corsair; Hewlett-Packard Development Company; Imation Corporation; Kingston Technology Corporation; Samsung Corporation; SanDisk Corporation; Toshiba Corporation; Transcend Information, Inc.; Diodes Incorporated; MaxLinear; SK Hynix Inc.; VIA Labs, Inc.; and Verbatim Americas LLC are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global USB devices market and its ecosystem.

In June 2020, Infineon Technologies AG announced the closing of the acquisition of Cypress Semiconductor Corporation. The addition of Cypress lets Infineon further strengthen its focus on structural growth drivers and a broader range of applications. This will accelerate the company's path of profitable growth.

In August 2021, Analog Devices, Inc. announced the acquisition of Maxim Integrated Products, Inc. The combination further strengthens ADI's position as a high-performance analog semiconductor company with trailing 12-month revenue of over US$ 9 billion, industry-leading margins, and free cash flow of over US$3 billion on a pro forma basis.

In October 2021, SK Hynix Inc. announced its launch of the first DDR5 DRAM. It is a high-speed and high-density product optimized for big data, artificial intelligence (AI), and machine learning (ML) as a next-generation standard of DRAM.

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Consumer demand and new technologies impressively influence the marketability of innovative automotive products. Entertainment and infotainment systems, including audio systems, are among the key components consumers consider while buying automobiles. The paradigm shift in consumer behavior regarding the driving experience, particularly in major regions such as Europe and North America, moves from basic to more advanced entertainment infotainment solutions to contribute toward the car audio systems, which is positively impacting the demand for USB devices. Several companies across the world are providing car audio systems enabled with cutting-edge technologies, which require USB connectivity features. For instance, Ford Motor Company of Southern Africa offers SYNC technology, which utilizes voice commands to make calls, play music, and select apps with its Ford AppLink. One can plug into the USB or MP3 player and stream through Bluetooth4Audio.

The growing inclination toward modern vehicle entertainment and infotainment systems is compelling auto manufacturers to provide a reliable connection between the car's display and users' smartphones or tablets. Thus, the USB device vendors catering to the automotive segment are designing USB products compatible with different automotive systems. Microchip Technology Inc. offers five USB 2.0 smart hub ICs available in various architectures; they are easy to use and provide flexibility to fit into car manufacturers' design requirements. Moreover, in February 2019, Microchip Technology Inc. rolled out a USB 3.1 Gen1 SmartHub IC that provides faster data rates and mitigates indexing times to enhance car user experience. At present, consumers expect vehicle entertainment and infotainment systems to respond instantly, without any delay. Thus, companies are focusing on offering robust USBs to ensure maximum functionality in the automotive media hub. Thus, the escalating demand for USB devices in entertainment and infotainment systems is driving the overall market growth.

Surging Adoption of USB Type-C in Medical Industry Boosts USB Devices Market Growth in Coming Years:

The USB-Type C devices are gaining huge popularity in the medical industry as their installation in any medical system abides with the industry standards such as IEEE 11073 and the Personal Health Care Device Class (PHDC) standards. Several devices such as video recorders, cameras, and drones are swiftly being moved to USB Type-C since it is the quickest way to transfer data; moreover, these USB devices provide more power than previous generations. USB Type-C devices would allow medical experts access to the finest resolution on computer displays used during surgeries and facilitate faster data transfer during crucial procedures.

The growing technological advancements in USB Type-C are likely to increase its scope in the medical industry. Prominent players are highly designing next-generation USB devices to stay ahead in the competitive market. For instance, TE Connectivity launched its onboard USB Type-C receptacle connector; it is a waterproof device that protects systems in severe environments with IPX8 (waterproof rating) dust and water ingression performance. With the given waterproof rating, the USB Type-C connector maintains a continuous connection at a water depth of 1.5 m for a minimum of 30 minutes. Further, the growing aging demographics, combined with increasing demand for early-stage diagnosis of chronic diseases, are boosting medical imaging equipment worldwide. Thus, such a rise in the use of USB Type-C systems, especially in the medical device manufacturing industry, is likely to provide growth opportunities to the USB device market players in the coming years.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.

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