USB Charger Market to Witness Significant Growth in the Coming Years

With the significant rise in the number of smartphone users, the demand for USB chargers has augmented substantially. The increasing need for improved functionality in smartphones, which drain out battery too soon, is fueling the demand for these chargers remarkably and is expected to continue doing so over the next few years. The global USB chargers market is projected to rise at a CAGR 5.80% during the period from 2017 to 2025 and reach US$37.89 bn by 2025 end.

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Demand for Type C Chargers to Remain Strong

The global market for USB chargers are majorly analyzed on four fronts: The product, type of charger, port, and the distribution channel. Based on the product, the market is classified into type A, type B, and type C. Among these, the type C chargers are experiencing a comparatively higher demand and are expected to remain doing so in the years to come. Wall charger, portable power bank/docking system/alarm clock, and car charger have surfaced as the key types of USB chargers available across the world. Among these, Portable power bank/docking system/alarm clock chargers are reporting a higher demand and are projected to continue like this over the next few years.

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Based on the port, the market is categorized into one-, two-, three-, and four-port chargers. By the distribution channel, the market is bifurcated into online and offline. Hitherto, offline channels have the dominance over this market; however, with the increasing penetration of Internet, online distribution channels will also have a smooth way to success in the near future.

Asia Pacific to Maintain Supremacy

Regionally, the worldwide market for USB chargers is spread across Europe, the Middle East and Africa, South America, North America, and Asia Pacific. Asia Pacific, with the increasing number of people with high disposable income, capable to spend of luxury consumer goods, dominated this market in 2016. Over the coming years, this regional market is expected to remain on the top, thanks to the significant increase in the technological advancements in consumer products. The soaring demand for consumer products, which are safe and have the benefit of fast and convenient charging, is predicted to contribute substantially to the growth of the market for USB chargers in Asia Pacific over the forthcoming years.

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Owing to the presence of numerous players, this market demonstrates a highly fragmented business landscape. AT&T Inc., Baccus Global LLC, Bello Digital, Cyber Power Systems, Inc., DB Power Limited, Eaton Corporation Plc., E-Filliate, Goal Zero, Honeycomb, IKEA Systems B.V., Insignia, Just Wireless, Kaijet Technology International (J5 Create), Klein Electronics (Sharp Brand), MIZCO International Inc., (Tough Tested), Monster Products, MyCharge, Native Union, NCC Corp., Petra Industries, LLC, PowerBurst, Prime Wire & Cable, Inc., Qmadix, S2DIO, LLC, SDI Technologies, Sprint Corporation, The Douglas Stewart Co., T-Mobile, Tronsmart, TYLT, Tzumi (Pocket Juice), Verizon Communications, Inc., VOXX International Corp., Wal-Mart Stores, Inc., and Xentris Wireless Corporate are some of the key participants in this market.

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