Press release
USB Cable Market to Electrify $69.86 Billion by 2031 with 20.24% CAGR From 2021-2031
USB Cable Market
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USB, or Universal Serial Bus, is devised to connect with different types of devices using a single port and a cable. Today, USB cables can not only share information but also deliver power. USB is the cable of choice for many audio interfaces, laptops, smart phones and tablets. It not only handles the data transfer and minimal charging of previous USB connectors, but it can also provide up to 100W of power to a device. USB cables are hot pluggable, it means, it can connect and disconnect the cables while the computer is running without fear of freezing the device.
Some of the prime drivers of the USB cable industry are surge in demand for consumer electronics, rise in penetration of video in demand, video conferencing, gaming, and home surveillance devices, and increase in number of data centers, which is opportunistic for the market growth. Considering these factors, the USB cable market is estimated to experience rapid growth in the future. However, USB poses security issues act as major barrier for the USB cable market growth. Potential opportunities in the automotive industry, and the emergence of USB type C are expected to create lucrative opportunities for market growth during the forecast period.
In addition, computer had a significant USB cable market size in 2021, owing to their usage to connect keyboard, mouse, printer, or scanner to the computer. Moreover, on the basis of industry vertical, the IT & telecommunication segment had a significant USB cable market share in 2021, owing to the fact that it offers a sufficiently fast serial data transfer mechanism at low cost and provides improved power efficiency. In, charging power delivery, 27 To 45W was the highest contributor to the market in 2021, owing to an increase in the lightning charger which is highly adopted by smartphone manufacturers globally.
The usb cable market is segmented into Type, Functionality, Product Type, Application, Industry Vertical and Charging Power Delivery.
Based on type, the USB Type A segment held the highest market share in 2020, accounting for more than two-fifths of the global USB cable market, and is estimated to maintain its leadership status throughout the forecast period. This is because A connectors are supported in every USB version. However, the USB Type C segment is projected to manifest the highest CAGR of 19.4% from 2021 to 2030, owing to Increasing penetration of USB Type C in smartphones and other smart devices.
Based on product type, the USB data cable segment accounted for the largest share in 2020, contributing to more than two-fifths of the global USB cable market, and is projected to maintain its lead position during the forecast period. This is due to wide range of applications of USB data cable. Moreover, the multifunctional USB cable segment is expected to portray the largest CAGR of 19.2% from 2021 to 2030, Owing to its multi-functionality and cost-effectiveness for consumers.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly one-third of the global USB cable market. This is due to the strong presence of consumer electronics, automotive and manufacturing companies in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 20.0% during the forecast period, owing to high adoption of consumer electronics as well as the increasing IT and telecom industry in this particular region.
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The key players profiled in the report for USB cable market analysis include Belkin, Bose Corporation, Digilent Inc., Future Technology Devices International Ltd., ION Audio, Nikon Corporation, Panasonic Corporation, Samsung Electronics Co., Tripp Lite, and Xilinc Inc. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the USB cable market.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the USB cable market analysis from 2021 to 2031 to identify the prevailing USB cable market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the USB cable market overview assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global USB cable market trends, key players, market segments, application areas, and market growth strategies.
Reasons to Buy This USB Cable Market Report:
• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
• Develop tactical initiatives by understanding the focus areas of leading companies.
• Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.
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