Global USB Devices Market Extends at a Healthy CAGR of 9.8 by 2031

Introduction

USB is a standard interface that permits devices to communicate with a host controller, such as a computer or a smartphone. It connects peripheral devices to the computer, such as digital cameras, mouses, keyboards, printers, scanners, media players, external hard drives, and flash drives. USB device has replaced a variety of interfaces, including parallel and serial connections, due to its versatility, which includes support for electrical power.

Market Dynamics

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USB devices can connect webcams, flash drives, memory card readers, digital audio players, and other computer peripherals. The market for USB devices is expanding, and they are compatible with various devices, including smartphones, tablet PCs, digital cameras, and smart televisions. USB devices are the most popular for sharing data between end devices, such as laptops, cell phones, PCs, and digital cameras. Due to the increasing demand for consumer electronics and data transfer technologies, global manufacturers of USB devices are working very hard to develop new products. Consequently, it is anticipated that the growing demand for consumer electronics will be the key driver driving the expansion of the global market for USB devices.

Surging Adoption of USB Type-C Creates Tremendous Opportunities

The USB Type-C standard was announced in 2014 with the promise of a considerable bandwidth and power delivery boost. Compared to Type-A and Type-B connections, USB Type-C provides a new class of capabilities and performance to meet future connecting needs. The USB Type-C specifications have reached maturity, and the adoption rate is consistent and on track. In addition, numerous laptop and consumer end-equipment manufacturers have already embraced USB Type-C. For example, the most recent models of the Apple MacBook and iPad employ USB Type-C for power and data transfer, and many other laptop makers use it for at least one port. Therefore, the accelerating acceptance of USB Type-C connectors is anticipated to create a potential opportunity for companies operating in the global market for USB devices.

Regional Analysis

Asia-Pacific is the most significant shareholder in the global USB devices market and is anticipated to grow at a CAGR of 11.7% during the forecast period. The increasing number of smartphone users, the development of mobile device technologies, and the presence of advanced network connectivity in the region are all significant factors that predict the growth of USB Devices. Furthermore, the leading firms in the USB device market in the United States and the United Kingdom are expanding their operations in Asia-Pacific. In addition, government attempts to foster digitalization and the proliferation of digital platforms are elements in Asia-Pacific developing nations.

Europe is anticipated to grow at a CAGR of 8.2% over the forecast period. In the European market for USB devices, security and data storage solutions are in high demand. A substantial amount of data has been generated as the region's IT industry has experienced exponential expansion. USB devices such as printers, scanners, flash drives, hard disks, and networking devices have increased in popularity recently due to their multifunctionality and usability.

Key Highlights

• The global USB devices market was valued at USD 26,749 million in 2022. It is estimated to reach USD 62,048 million by 2031, growing at a CAGR of 9.8% during the forecast period (2023–2031).
• By type, the global USB devices market is divided into USB 1.0, USB 2.0, USB 3.0, and others. The USB 3.0 segment is responsible for the largest market share and is anticipated to grow at a CAGR of 9.9% over the forecast period.
• By product, the global USB devices market is segmented into webcam, USB flash drives, memory card readers, digital audio players, computer peripherals, scanners and printers, and others. The computer peripherals segment owns the highest market share and is expected to grow at a CAGR of 10.4% over the forecast period.
• By connector type, the global USB devices market is divided into Type A, Type B, Type C, and Lightning connectors. The Type A segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.4% over the forecast period.
• By application, the global USB devices market is segmented into consumer electronics, IT and telecommunication, automotive, healthcare and medical devices, and others. The consumer electronics segment owns the market and is expected to grow at a CAGR of 10.3% over the forecast period.
• Asia-Pacific is the most significant shareholder in the global USB devices market and is anticipated to grow at a CAGR of 11.7% during the forecast period.

Competitive Players

1. Corsair Memory Inc.
2. Adata Technology Co. Ltd.
3. Sandisk Corporation
4. Kingston Technology Corporation
5. Toshiba Corporation
6. Samsung Electronics Co. Ltd.
7. Micron Consumer Products Group Inc.
8. Verbatim Americas LLC
9. Transcend Information Inc.
10. Intel Corporation
11. HP Inc.
12. Imation Corporation (Ojin Corporation Co. Ltd)
13. Koninklijke Philips N.V.
14. Netac Technology Co. Ltd
15. Teclast Electronics Co. Ltd.

Recent Developments

• June 2024 - Legrand | AV's C2G brand revealed a significant addition to their lineup of Superbooster USB extenders. C2G is adding seven new models that support USB devices, such as high-bandwidth PTZ cameras, solid-state drives, interactive whiteboard printers, and touchscreen displays.
• June 2024 - EPC, a global pioneer in enhancement-mode GaN power FETs and integrated circuits, introduced the 50 V, 8.5 mΩ EPC2057. This GaN FET is made especially to handle the changing demands of high-power USB-C devices, such as those found in eMobility, consumer electronics, and in-car charging.

Segmentation

1. By Type
   1. USB 1.0
   2. USB 2.0
   3. USB 3.0
   4. Others
2. By Product
   1. Webcam
   2. USB Flash Drives
   3. Memory Card Readers
   4. Digital Audio Players
   5. Computer Peripherals
   6. Scanners and Printers
   7. Others
3. By Connector Type
   1. Type A
   2. Type B
   3. Type C
   4. Lightning Connectors
4. By Applications
   1. Consumer Electronics
   2. IT and Telecommunication
   3. Automotive
   4. Healthcare and Medical Devices
   5. Others