Increasing Demand for Better Connectivity Between Electronic Devices To Drive The Global USB devices Market :

Market Research Future (MRFR) will be publishing a cooked research report on the “Global USB devices Market” that contains the information from 2020 to 2027. 

MRFR recognizes the following companies as the key players in the global USB devices market: Corsair Memory Inc. (US), Adata Technology Co. Ltd.(Taiwan), Sandisk Corporation (US), Kingston Technology Corporation (US), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd.(South Korea), Micron Consumer Products Group Inc.(US), Verbatim Americas LLC (US), Transcend Information Inc.(Taiwan), Intel Corporation (US), HP Inc.(US), Imation Corporation (Ojin Corporation Co., Ltd) (US), Koninklijke Philips N.V. (Netherlands),Netac Technology Co, Ltd.(China), Teclast Electronics Co., Ltd.(China).

Market Highlights

The global USB devices market is projected to be valued at USD 8,321.5 Million by the end of 2027, registering a CAGR of 20.2% during the forecast period.

Electronic component supply has a big influence on businesses; therefore, it is something that many stakeholders are forecasting and preparing for in the engineering, technology, and manufacturing industries. The effect of new product developments has undoubtedly contributed to the rise in demand. The introduction of every new gadget or product invariably results in an increase in customer demand, putting pressure on producers of critical electrical components. Following a period of relatively steady market conditions, it appears that semiconductor manufacturers have been caught off guard by failing to make the necessary expenditures to respond to the rise in demand and expand their production capabilities.

USB devices can be used to connect webcams, flash drives, memory card readers, digital audio players, and computer peripherals. The USB device market is booming, and it is compatible with a wide range of devices, including smartphones, tablet PCs, digital cameras, and smart TVs. Due to the extreme emergence of new technologies, the consumer electronics industry is one of the fastest-growing industries. Rapid technological developments to meet customer needs will offer business possibilities. Consumer gadgets such as smartphones and laptops are becoming more popular in both developed and developing countries, owing to rising per capita disposable income, population growth, and Internet penetration.

Several economies have seen an increase in the penetration of these gadgets as a result of ongoing important technical advances.

USB devices have emerged as the most popular interface for transferring data between end devices such as laptops, cell phones, PCs, and digital cameras. As a result of the rising demand for consumer electronics and data transfer goods, international USB device manufacturers are focusing heavily on releasing new products to achieve long-term growth and differentiate themselves from their competitors. Thus, the rising demand for consumer electronics is expected to drive the growth of the global USB devices market during the forecast period.

COVID-19 Impact Analysis

According to the Electronic Components Industry Association, the introduction of COVID-19 has caused delays in product launches, supply chain disruptions, and other industrial operations. Due to lower demand for products as a result of lockdown measures and limited production resources, several manufacturers have temporarily ceased operations. Furthermore, manufacturers of different electrical and semiconductor products, including USB devices and USB compatible devices, have experienced significant lead time delays, compromising the supply chain.

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Segment Analysis

The market has been segmented based on type, product, connector type, application, and region.

The global USB devices market, based on type, has been segmented into USB 1.0, USB 2.0, USB 3.0, and others.

The global USB devices market, based on product, has been segmented into Webcam, USB flash drives, memory card readers, digital audio players, computer peripherals, scanners & printers, and others. The computer peripherals segment accounted for the largest market share of 44.7% in 2019, with a market value of USD 9,385.6 million; it is expected to register the highest CAGR of 10.2% during the forecast period.

The global USB devices market, based on connector type, has been segmented into Type A, Type B, Type C, and Lightning Connector. The Type C segment is projected to register the highest CAGR of 14.0%.

Based on the application, the global USB devices market has been divided into consumer electronics, it & telecommunication, automotive, healthcare & medical devices, and others. The consumer electronics segment accounted for the largest market share and is expected to register the highest CAGR of 10.1% during the forecast period.

Key Findings of the Study:

  • The global USB devices market is projected to reach a value of USD 41,006 million by 2027, with a CAGR of around 9.6% during the forecast period from 2021 to 2027.

  • Aisa Pacific accounted for the largest market share in 2019.

  • The US is one of the leading markets in North America due to increasing urbanization, advances in digital technology, and higher disposable income. With the recent developments and enhancements in the USB devices standards, the new generation of USB devices offers high-speed connectivity and data transfer speeds.

  • The surging adoption of USB Type-C and advancements towards USB 4 technology are the key opportunities in this market.