The USB devices market is estimated to enlist a CAGR of more than 12.10% to reach USD 71.2 Billion by 2030.
A Universal Serial Bus (USB) is a common connection point that permits gadgets to speak with a host regulator, like PCs or cell phones. It joins fringe gadgets, including advanced cameras, mice, consoles, printers, scanners, media players, outside hard drives, and glimmer drives, to the PC.
USB was made to normalize the association of peripherals to PCs for both correspondence and power. It has generally displaced sequential and equal ports and is currently found on various gadgets.
The rising utilization of customer gadgets, for example, cell phones and PCs in created and non-industrial nations, is credited to rising discretionary cash flow, expanding populace, and developing Internet entrance. The continuous critical, innovative improvements have prompted an ascent in the entrance of these gadgets across a few economies.
In 2020, according to the Consumer Technology Association (CTA), deals of cell phones in the US represented 152 million units. USB gadgets have turned into a prevailing connection point to address developing necessities for quick information movement between end gadgets, like PCs, cell phones, PCs, and advanced cameras. Consequently, with the heightening interest for buyer hardware and information transmission items, the worldwide USB gadgets market players centre around sending off new things to accomplish supportable development and separate themselves from their rivals, accordingly adding to the market development.
COVID-19 has had a substantial impact on the sector's fundamentals, including customer behavior, business revenues, and various corporate activities. Many companies' future prospects are uncertain, and some may not survive the crisis. Depending on prospective government initiatives and other difficult-to-predict circumstances, a variety of recovery scenarios are feasible. Semiconductor businesses moved quickly to protect employees, secure supply chains, and address other important concerns in the months following the novel coronavirus outbreak. Even though the situation remains critical, and many governments continue to impose physical-distance limitations, semiconductor executives are now looking forward to when the pandemic subsides and the new normal begins. They are planning tactics for reinventing and changing their business models in anticipation of that moment. Every component of the company model, including product portfolio composition, capital expenditures (CapEx), R&D strategy, demand predictions, supply-chain footprints, production decisions, and mergers and acquisitions alternatives, could change (M&A). However, with so much uncertainty in the future, semiconductor businesses may struggle to make strategic decisions.
Across all industries, the shift to USB Type-C (USB-C) connections is well underway. The ability to transport data and video simultaneously and ensure fast charging is driving the adoption of USB-C in smartphones, laptops, and automobiles. Compared to the successful Type-A and Type-B connections, USB Type-C delivers a new class of capabilities and performance to satisfy future connectivity demands. While the future of traditional USB technology is unknown, manufacturers are confident that USB Type-C connections will continue to gain popularity and adoption.
Rising demand for consumer electronics: Due to the widespread use of cell phones among individuals of all ages, the worldwide consumer electronics business is booming. With a USB-integrated interface, universal serial bus (USB) or USB key or USB stick devices store data in flash memory.
Increasing Demand for better connectivity between electronic devices: There has been significant growth in the global demand for electronic components, which has an evident impact on lead times for produced items. The demand for electronic components has risen at an exponential rate in the last twelve months.
Growing demand for usb products in automotive entertainment and infotainment systems: The marketability of innovative automobile goods is heavily influenced by consumer demand and new technology. Consumers take into account entertainment and infotainment systems, as well as audio systems, while purchasing vehicles.
Surging adoption of USB Type-C: The USB Type-C standards are mature, and the adoption pace is steady and on schedule. OEMs are increasingly using USB Type-C as their power and data connectors in consumer applications.
Advancements in USB 4: USB4 is the most recent USB version. "USB 4," which was first announced in 2019, is already arriving in certain devices, including Apple's new M1-powered iMacs, M1-based MacBook’s and Mac Mini, and laptops with Intel 11th Gen Tiger Lake processors.
Rising security concerns: USB devices, often known as thumb drives, are useful for storing and moving information from one computer to another because they are tiny, generally available, affordable, and portable. These same features, on the other hand, make them enticing to attackers.
Complexity associated with replacing old usb standards with new ones: USB ports and connections have gotten more useful with each successive iteration, allowing for smaller, lighter, and more portable devices. However, while new standards offer greater speed, power, and adaptability to the market, they also bring a complicated array of features and capabilities to consider when choosing the proper connection or peripheral for different applications.
The value chain analysis for the global USB devices market comprises five major stages starting with the research & development stage, then the design of the product, followed by manufacturing, assembly testing and packaging, and finally the distribution.
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 USB 3.0 segment accounted for the largest market share in 2020 and is estimated to register a CAGR of 9.7% during the review period.
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 global USB devices market, based on connector type, has been segmented into Type A, Type B, Type C, and Lightning Connector.
Based on the application, the global USB devices market has been divided into consumer electronics, it & telecommunication, automotive, healthcare & medical devices, and others.
The global USB devices market has been studied across Asia-Pacific, North America, Europe, and Rest of the World. Asia Pacific accounted for the largest market share of 37.24% in 2020. The major USB devices market companies based in the US and the UK are expanding their business in Asia-Pacific. Furthermore, government initiatives to promote digitization and booming digital platforms are the factors in the developing countries of Asia-Pacific.
The USB devices market in Europe is witnessing a high demand for USB device security and data storage solutions. The region has been witnessing tremendous growth of the IT sector and a huge amount of data has been generated. The market is also primarily driven by the rise of IT industries in the market, which are day by increasing the use of USB devices such as keyboards, mice, chargers, smartphones, projectors.
North America is the most significant revenue contributor to the global USB devices market. The region is anticipated to witness considerable growth over the forecast period due to the increasing demand for better connectivity performance between electronic devices. In North America, the high penetration of this technology can be attributed to universal standards accepted worldwide.
Intel Corporation’s capital allocation strategy focuses on building value, which is achieved by investing in innovations, acquisitions, and strategies to increase its capabilities. The company is one of the main hardware and solution providers for AI-based autonomous vehicles. It develops various types of sensors, cameras, and software to make vehicle automation a reality.
Key players operating in the global USB devices market include 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)
SK Hynix Inc. declared its send-off of the primary DDR5 DRAM. It is a fast and high-thickness item streamlined for huge amounts of information, man-made reasoning (AI), and AI (ML) as a cutting-edge norm of DRAM.
Simple Devices, Inc. reported the procurement of Maxim Integrated Products, Inc. The blend further reinforces ADI's situation as a superior execution relationship semiconductor organization with the following year's income of over US$ 9 billion, industry-driving edges, and free income of over US$3 billion on a master forma premise.
As per MRFR, the global USB devices market has been growing significantly over the past few years. The global USB devices market has been segmented on the basis of type, product, connector type, application, and region. Based on region, the graphical user interface design software market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World.
The scope of the global USB devices market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global USB devices market has been segmented on the basis of type, product, connector type, application, and region.
|Market Size||USD 71.2 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product, Connector type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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) (US), Koninklijke Philips N.V. (Netherlands),Netac Technology Co Ltd.(China), Teclast Electronics Co. Ltd.(China)|
|Key Market Opportunities||
|Key Market Drivers||
The USB 3.0 segment is expected to drive the market during the forecasted period.
The global USB devices market has been growing rapidly from the past few decades and is expected to reach USD 71.2 Billion by 2030, at a CAGR of 12.10% during the forecast period.
Intel, HP, Philips, Toshiba, Samsung are expected to be the major competition in the USB devices market during the projected period.
The Asia Pacific region is expected to be the largest market for USB devices market during the forecast period.
Rising Security Concerns may slow the growth of the USB devices market during the forecast period.