USB Devices Market
According to Market Research Future (MRFR), the global USB devices market had a valuation of USD 19.00 billion in 2018 and is estimated to reach USD 46.08 billion with a CAGR of 13.9% from 2023 to 2030 (forecast period). The report covers the COVID-19 analysis of the global USB devices market and provides a full and accurate description of market segments, recent trends, growth prospects, and business challenges from 2023 to 2030 (forecast period) to identify growth opportunities.
Universal Serial Bus (USB) is an industry standard that sets out the specification for cables and connectors to connect, communicate, and supply power between computers, peripheral devices, and other computers. USB allows users to connect up to 127 devices, either directly or via a USB hub. The USB device uses a host or data source to send a class code, which further enables the device to select specific drivers that are compatible with it, and thus initiates the transfer process. The adoption of USB devices is largely witnessed in consumer electronics, IT & telecom devices, automobiles, and medical devices.
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Market Dynamics
Ease in the development and manufacture of custom products and increasing demand for improved connectivity performance between electronic devices are critical factors in the growth of the global market for USB devices. Nevertheless, security issues are expected to hinder the development of the global market. Moreover, the complexity of replacing old USB standards with new ones creates a challenge for market vendors.
Market Segmentation
The global market for USB devices has been segmented on the basis of type, product, connector type, and application.
Based on type, the global market has been segmented into USB 1.0, USB 2.0, USB 3.0, and others.
By product, the global market has been segmented into webcams, USB, flash drives, memory card readers, digital audio players, computer peripherals, scanners & printers, others.
By the connector type, the global market has been segmented into type A, type B, type C, and lightning connector.
By application, the global market has been segmented into consumer electronics, IT & telecommunication, automotive, healthcare & medical devices, and others.
Key Players
MRFR has identified a few companies as leading players in the Global USB Devices Market. These include Corsair Memory, Inc. (US), ADATA Technology Co., Ltd (Taiwan), Imation Corporation (US), SanDisk Corporation (US), Kingston Technology Corporation (US), Samsung Corporation (South Korea), Micron Consumer Products Group Inc. (US), Verbatim Americas LLC. (Japan), Toshiba Corporation (Japan), Transcend Information Inc. (Taiwan), Teclast Electronics Co., Ltd. (China), Netac Technology Co., Ltd. (China), Intel Corporation (US), and Koninklijke Philips N.V. (Netherlands). These companies are evaluated based on their geographic presence, origin, product portfolio, key developments, and expertise in USB device manufacturing and technology.
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Regional Analysis
Regionally, the global USB devices market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Central & South America.
North America led the global market for USB devices. The region has seen a strong presence of automotive, consumer electronics, and manufacturing companies. This increased the demand for USB devices for use in numerous consumer electronic applications.
The Asia Pacific region is expected to see the fastest growth in the production of USB devices during the forecast period. Increasing consumer electronics adoption and the growing IT & telecommunication industry in the region have led to the continued growth of the USB device market. In addition, mature markets such as China, Japan, India, and South Korea have contributed to the development of the global market for USB devices.