USB Wall Socket Market Analysis
USB Wall Socket Market Analysis
USB Wall Socket Market Expected to Reach $1.6 Billion by 2031—Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, February 6, 2024 /EINPresswire.com/ -- USB wall sockets will have a gradual growth due to an increase in the penetration of technology related to the Internet of Things. Most of the world’s electronic equipment is connected to the internet which led to an increase in the power demand; hence leading to the surge in the demand for stable and efficient charging devices which led to the innovation of USB wall socket products. The gradual rise in the utilization of smart products and the construction of smart homes and cities will provide ample opportunities for the development of the market. The USB wall socket market size was valued at $1.0 billion in 2021, and the USB wall socket industry is estimated to reach $1.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/16242
This market is primarily driven by the increasing proliferation of smartphones across the world. The enhanced functionality in smartphones drains out battery too soon, which is propelling the demand for these chargers. Additionally, features associated with the USB wall chargers such as fast charging, compatibility, and multiple ports to charge several devices at the same time are further likely to boost the demand for the chargers during the forecast period. However, the presence of counterfeit products in the market is expected to hamper the USB wall socket market growth.
A USB wall charger of varying power levels and ports is available in the market. Key regulatory bodies have strict regulations to test the safety of the sockets of the USB charger. As a result, manufacturers are focusing on producing chargers that adhere to safety standards which is expected to influence the consumer inclination toward USB wall socket products. Alongside, the rising adoption of updated technology and an increase in consumer spending capacity on electronic goods is expected to propel the demand for USB wall sockets during the forecast period.
In Asia-Pacific, China is the largest exporter of electronic appliances and USB wall socket products. India is a major importer of electronic appliances, furthermore, the presence of investments concerning the construction of various electronic manufacturers and increasing demand for smartphones and smart wearables in this region will drive the demand for USB wall socket market. European Union government has taken initiatives to unify the USB charging standards for the smartphone industry by 2024, which will have a positive impact on the market. This initiative is taken to reduce the hassle for consumers and curb e-waste regarding mobile and electronic gadget chargers.
𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/16242
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The USB Wall Socket industry's 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 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐔𝐒𝐁 𝐖𝐚𝐥𝐥 𝐒𝐨𝐜𝐤𝐞𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,
TopGreener
Maxell Holdings Ltd.
Maxxima
Mophie Inc.
BG Electrical
Newer Tech
Lutron Electronics
Anker Technology Co. Limited
Accel
Eaton Corporation
Leviton
Legrand
Jasco Products
Xtreme Cables
Hubbell Inc
The global USB wall socket market forecast is segmented based on type, USB standard, application, and region. Based on type, it is segmented into two USB ports, Four USB ports, and others. Based on USB standards, the market is segmented into Type-A, Type-B, and Type-C. Based on application, the market is segmented into residential, commercial, and industrial. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest USB wall socket market share, followed by Europe and Asia-Pacific.
Rapid industrialization, urbanization, and a gradual increase in the utilization of electronic gadgets in daily life have led to an increase in the demand for USB charger products. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in new technologies related to USB wall sockets have led to key developments in the global USB wall socket market trends.
𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/16242
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:
- North America would exhibit a CAGR of 4.8% during 2022-2031.
- As per global USB wall socket market analysis, by type, the two USB ports segment accounted for the largest share in 2021.
- By USB standards, Type-A was the leading segment in 2021.
- By application, the residential segment has the largest market share in 2021.
𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝟏. 𝐖𝐢𝐫𝐞𝐝 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/wired-charging-market-to-reach-15-9-bn-globally-by-2030-at-3-9-cagr-allied-market-research-301469650.html
𝟐. 𝐉𝐚𝐩𝐚𝐧 𝐖𝐢𝐫𝐞𝐝 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/01/12/2365518/0/en/Japan-Wired-Charging-Market-to-Garner-1-2-Billion-by-2030-Allied-Market-Research.html
𝟑. 𝐅𝐢𝐫𝐞 𝐑𝐞𝐬𝐢𝐬𝐭𝐚𝐧𝐜𝐞 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2021/12/15/2352371/0/en/Fire-Resistance-Cable-Market-Is-Expected-to-Reach-2-5-Billion-by-2030-Says-AMR.html
𝟒. 𝐇𝐢𝐠𝐡 𝐕𝐨𝐥𝐭𝐚𝐠𝐞 𝐂𝐚𝐛𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2020/05/13/2032806/0/en/High-Voltage-Cables-Market-to-Reach-23-4-Billion-by-2027-AMR.html
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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