USB Devices Market could be worth US$ 65,857.2 Million by 2028, Says The Insight Partners

According to our new research study on "USB Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Device Standard Type, Product, Connector Type, Application, and Geography," the market is projected to reach US$ 65,857.2 million by 2028 from US$ 35,339.3 million in 2021; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028.

The increasing use of consumer electronics such as smartphones and laptops in developed and developing countries is mainly attributed to rising disposable income, increasing population, and growing Internet penetration. The ongoing significant technological developments have led to a rise in the penetration of these devices across several economies. In 2020, as per the Consumer Technology Association (CTA), sales of smartphones in the US accounted for 152 million units.

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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 major companies operating in the USB Devices market.

USB devices have become a dominant interface to address growing requirements for swift data transfer between end devices, such as laptops, smartphones, PCs, and digital cameras. Thus, with the escalating demand for consumer electronics and data transmission products, the global USB devices market players focus on launching new products to achieve sustainable growth and distinguish themselves from their competitors, thereby contributing to the market growth.

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The USB device market is segmented into standard type, product, connector type, application, and geography. Based on device standard type, the market is segmented into USB 2.0, USB 3.0, and USB 4.0. Based on product, the USB device market is segmented into webcams, flash drives, memory card readers, digital audio players, computer peripherals, USB hub and docking station, and others.

On the basis of connector type, the USB device market is segmented into Type A, Type B, Type C, and lightning connector. The USB device market, by application, is segmented into consumer electronics, IT and telecommunications, automotive, healthcare and medical devices, and others. Geographically, the market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).

The COVID-19 hampered the adoption of USB devices across North America in 2020 as sales of industries such as electronics and automotive were hampered due to impact of supply lines. Meanwhile, the adoption of USB devices across IT & telecom and healthcare was reported at higher side due to high emphasis on remote working and remote learning practices, followed by a rise in the number of patients across hospitals due to COVID-19. However, from the Q1 of the supply lines of the automotive and electronics industry started to stabilize, and revenue of these industries were showcased positive momentum, which subsequently propelled the USB devices market in North America.

In Market Segmentation by Geographical Regions, the report has analyzed the following regions-
• North America (USA, Canada and Mexico)
• Europe(Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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About Us:
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, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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