USB cable market
USB cable market
Usb Cable Market: Global Opportunity Analysis and Industry Forecast, 2021-2031
WILMINGTON, DELAWARE, UNITED STATES, February 3, 2024 /EINPresswire.com/ -- USB Cable Market by Type (USB type A, USB type B, USB type C), by Functionality (USB 1.x, USB 2.0, USB 3.x, USB 4), by Product Type (USB data cable, USB charger, Multifunctional USB cable), by Application (Smartphone, Camera, Camcorder, Printer, Scanner, Computer, TV, Others), by Industry Vertical (Commercial, IT and telecommunication, Industrial, Automotive, Healthcare, Others), by Charging Power Delivery (0.5 To 15W, 15 To 27W, 27 To 45W, 45 To 100W, 100 To 240W): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global USB cable market was valued at $12.73 billion in 2021, and is projected to reach $69.86 billion by 2031, growing at a CAGR of 20.24% from 2022 to 2031.
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USB, or Universal Serial Bus, is devised to connect with different types of devices using a single port and a cable. Today, USB cables can not only share information but also deliver power. USB is the cable of choice for many audio interfaces, laptops, smart phones and tablets. It not only handles the data transfer and minimal charging of previous USB connectors, but it can also provide up to 100W of power to a device. USB cables are hot pluggable, it means, it can connect and disconnect the cables while the computer is running without fear of freezing the device.
Some of the prime drivers of the USB cable industry are surge in demand for consumer electronics, rise in penetration of video in demand, video conferencing, gaming, and home surveillance devices, and increase in number of data centers, which is opportunistic for the market growth. Considering these factors, the USB cable market is estimated to experience rapid growth in the future. However, USB poses security issues act as major barrier for the USB cable market growth. Potential opportunities in the automotive industry, and the emergence of USB type C are expected to create lucrative opportunities for market growth during the forecast period.
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The outbreak of COVID-19 has significantly impacted the growth of the USB Cable market in 2021, owing to a significant impact on prime players operating in the supply chain. However, the rise in investment in commercial & automotive expenditure globally is acting as one of the major factors that propelled the market growth during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delay or cancelation of projects due to partial or complete lockdown, globally. Furthermore, the surge in demand for consumer electronics and increase in number of data centers in the USB cable globally is strengthening the USB cable market globally post COVID-19. Asia-Pacific is a crucial market for the adoption of USB cables due to the penetration of video on demand, video conferencing, gaming, and home surveillance devices. For market participants, obtaining raw materials is one of their top priorities, with time and shipping prices as the two main factors. However, COVID-19's adverse effect on USB cable market growth is anticipated to be limited in scope and disappear by the end of 2020 since post-pandemic demand for USB cable products is anticipated to soar significantly.
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Competitive Analysis:
The USB cable industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the USB cable market include,
*️⃣ Advanced Micro Devices Inc
*️⃣ Eaton Corporation Plc
*️⃣ Bose Corporation,
*️⃣ Panasonic Corporation,
*️⃣ Anker Innovations Technology Co. Ltd.,
*️⃣ Samsung Electronics Co. Ltd.,
*️⃣ FIT Hon Teng Limited
*️⃣ InMusic, LLC
*️⃣ Luxshare Precision Industry Co., Ltd.,
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
*️⃣ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the USB cable market analysis from 2021 to 2031 to identify the prevailing USB cable market opportunity.
*️⃣ The market research is offered along with information related to key drivers, restraints, and opportunities.
*️⃣ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
*️⃣ In-depth analysis of the USB cable market overview assists to determine the prevailing market opportunities.
*️⃣ Major countries in each region are mapped according to their revenue contribution to the global market.
*️⃣ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
*️⃣ The report includes the analysis of the regional as well as global USB cable market trends, key players, market segments, application areas, and market growth s
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