USB Device Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

USB Device Market Overview:

 

USB stands for universal serial bus, and it is an industry standard that specifies the cables, connectors, and communication protocols for connecting, communicating, and powering computers and other electronic devices. Earlier interfaces such as serial and parallel connections, as well as separate power charges for portable devices, were effectively supplanted by USB. Another noteworthy aspect is the wide range of transfer modes it offers, including controlled, continuous, bulk, and isochronous transfers. They allow users to connect up to 127 devices directly or via a USB hub.

 

These devices are much faster, as they support data transfer speeds of 12 Mbps for disc drives and other high-speed throughput devices, and 1.5 Mbps for low-bandwidth devices. The ease of use, portability, convenience, widespread compatibility, higher read and write speeds, interoperability among all platforms, and advancement in security in the form of password protection or encryption/decryption are all important benefits that have encouraged their widespread adoption over the years.

 

 

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USB Device Market Dynamics:

 

The growing popularity of modern vehicle entertainment and infotainment systems is pressuring automakers to provide a secure link between the vehicle's display and the consumers' smartphones or tablets. As a result, USB device suppliers for the automotive market are developing USB products that are interoperable with a variety of vehicle systems. Microchip Technology Inc. offers five USB 2.0 smart hub ICs in diverse designs that are simple to use and adapt to the design needs of automobile makers. Furthermore, Microchip Technology Inc. released a USB 3.1 Gen1 Smart Hub IC in February 2019 that enables quicker data rates and reduces indexing times to improve the car user experience.

 

Consumers today expect automotive entertainment and infotainment systems to respond quickly. As a result, manufacturers are emphasizing the availability of rugged USBs in order to assure optimal operation in the automotive media hub. As a result, the entire industry is growing due to the increasing need for USB devices in entertainment and infotainment systems.

 

Due to the technology's diverse applications, ease of development, and production of custom goods, the USB device market has seen significant growth in recent years. In addition, the demand for improved connectivity between electronic devices and advanced peripherals is boosting USB device sales. In terms of technological improvements, the recent upgrade of the USB standard "USB 3.0" allows for faster transfer rates, better power management, and higher maximum bus power, all of which have contributed to the market's success.

 

Security concerns and the difficulty of replacing outdated USB standards with new ones are, however, limiting the adoption. Several recent breakthroughs in this field, as well as expanding Asian markets, are presenting new chances for industry participants and producers. Furthermore, the markets are expected to be driven in the future by the advent of the USB 3.1 standard and the growing need for wireless USB devices in the automobile industry.

 

Consumer electronics such as smartphones and laptops have become more popular in both developed and developing countries, owing to rising disposable income, growth of population, and Internet penetration across the world. A number of economies have seen an upward shift in the penetration of these gadgets as a result of ongoing important technology breakthroughs. According to the Consumer Technology Association (CTA), smartphone sales in the United States reached approximately 152 million devices in 2020.

 

USB devices have come out as the most popular interface for transferring data between end devices such as laptops, smartphones, PCs, and digital cameras. As a result of the rising demand for consumer electronics and data transfer goods, USB device market participants are focusing on launching new products to achieve long-term growth and differentiate themselves from their competition, consequently adding to market growth.

 

Due to the impact on supply lines, the COVID-19 impeded the adoption of USB devices in 2020, causing sales in industries such as electronics and automotive to suffer. Meanwhile, higher usage of USB devices has been recorded in IT & telecom and healthcare, owing to a greater emphasis on remote working and learning methods as a result of the increase in the number of patients in hospitals due to COVID-19. However, beginning in Q1 of 2021, the automotive and electronics sectors' supply lines began to stabilize, and their revenue began to show positive momentum, propelling the market for USB devices.

 

USB Device Market Segment Analysis:

 

By Type, USB Device Market is segmented into USB 2.0, USB 3.0 and USB 4.0. The USB 3.0 standard is the industry leader and estimated to grow at a CAGR of 20.7%, thanks to its capacity to enable data transfer speeds of 1.25 Gbps to a maximum of 5 Gbps, which is more than 10 times faster than USB 2.0's 480 Mbps speed. USB 3.0 allows for faster data transfer rates, improved power management, and increased maximum bus power, all of which have supplemented to the market's success. USB 3.0 can be connected to a wide range of computers or devices, including tablets, phones, keyboards, flash drives, cameras, and so on, which is helping to promote its market growth.

 

By Connector Type, USB Device Market is segmented into Type A, Type B, Type C and Lightening connect USB devices. Among these, Type B USB dominated the market in 2023. Whereas, Type C USB is expected to dominate the market during the forecast period with comparatively higher CAGR of 29%. The medical business is set to benefit from the ongoing technological improvements in USB Type-C. To stay ahead of the competition, major players are putting a lot of effort into developing next-generation USB devices. For example, TE Connectivity introduced its onboard USB Type-C receptacle connector, which is a waterproof device that protects systems in harsh environments with dust and water ingression performance of IPX8 (waterproof certification).

 

The USB Type-C connector maintains a continuous connection at a water depth of 1.5 m for a minimum of 30 minutes, according to its waterproof rating. Moreover, the world's ageing population, combined with a growing demand for early-stage diagnosis of chronic diseases, is driving up demand for medical imaging equipment and, as a result, for next-generation USB Type-C devices. As a result, the increased use of USB Type-C systems, particularly in the medical device manufacturing business, is expected to generate possibilities for USB device market players in the coming years.

 

 

By Application, USB Device Market is segmented into consumer electronics, IT and telecommunications, automotive, healthcare and medical devices, and others. And IT & communications dominated the USB Device market by a significant share.

 

USB Device Market Regional Insights:

 

The USB device market is divided into five regions: Europe, North America, Asia Pacific, South America, and the Middle East and Africa. North American region is estimated to dominate the market. Due to telematics initiatives conducted by OEM automakers and government-led programmes in the region, it leads the market for machine-to-machine (M2M) communication modules in the automotive telematics segment, after North America, Europe leads the market. Due to sustained economic growth, growing computing device use, proliferation of smartphones and tablets, and adoption of USB devices for storing, transferring, and sharing content in the area, particularly China, Japan and India, Asia Pacific region is expected to rise rapidly in the next years.

 

The report aims to provide industry stakeholders with a comprehensive analysis of the USB Device market. The report includes the most dominant trends in the USB Device market and how these trends affect new business investment and market development during the forecast period. The report also helps to understand the dynamics of the USB Device market and the competitive structure of the market by examining market leaders, market followers, and regional players.

 

Qualitative and quantitative data provided in the USB Device Market Report will drive market-influencing factors and industry and market growth, which market segments and regions are expected to grow at a faster rate. The forecast period is designed to help you understand the critical areas of opportunity to do. The report also includes the competitive landscape of key industry players, as well as recent developments in the USB Device market. The report looks at factors like company size, market share, market growth, sales, production, and profits of key players in the USB Device market.

 

 

The document affords Porter's Five Force Model, which facilitates designing the enterprise techniques withinside the marketplace. The Report facilitates in figuring out what number of competitors are existing, who they are, and the way their product exceptional is withinside the Global USB Device marketplace. The Report additionally analyses if the Global USB Device marketplace is straightforward for a brand-new participant to benefit a foothold withinside the marketplace, do they input or go out the marketplace often if the marketplace is ruled via way of means of some Players, etc.

 

The document additionally consists of a PESTEL Analysis, which aids withinside the improvement of enterprise techniques. Political variables assist in identifying how an awful lot a central authority can have an impact on the Global USB Device marketplace. Economic variables useful resource withinside the evaluation of monetary overall performance drivers which have an effect at the Global USB Device marketplace. Understanding the effect of the encircling surroundings and the have an impact on of environmental issues at the Global USB Device marketplace is aided via way of means of felony factors.

 

USB Device Market Scope:

USB Device Market
Market Size in 2023	USD 46.00 Bn.
Market Size in 2030	USD 84.10 Bn.
CAGR (2024-2030)	9%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By  Type USB 2.0 USB 3.0 USB 4.0
	By Connector Type Type A Type B Type C
	By Application Consumer electronics IT and telecommunications Automotive Healthcare
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

USB Device Market Key Players:

• Corsair Memory, Inc (U.S.)
• ADATA Technology Co. Ltd (Taiwan)
• Hewlett Packard Company (U.S.)
• Western Digital Corporation (SanDisk) (U.S.)
• Kingston Technology Corporation (U.S.)
• Toshiba Corporation (Japan)
• Samsung Corporation (South Korea)
• Micron Technology, Inc (U.S.)
• Verbatim Americas LLC (U.S.)
• Imation Corporation (U.S.)
• Transcend Information, Inc (Taiwan)
• Teclast Electronics Co. Ltd. (China)
• Netac Technology Co Ltd (China)
• Intel Corporation (U.S.)

• Koninklijke Philips N.V. (Netherlands)