New Delhi, March 22, 2022 (GLOBE NEWSWIRE) — The global market for USB devices is booming as computer equipment, wireless devices, and compact storage devices are in high demand worldwide. Additionally, growing technological advancements and the advent of IoT have made it possible to manufacture USB devices with better efficiency, providing faster data transmission rates and higher storage capacities, thereby driving the market’s growth for USB devices globally…
A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global USB devices market was worth USD 29.4 billion in the year 2020. The data generated by the study reveals that the market is estimated to grow at a CAGR of 8.4%, earning revenue of around USD 51.6 billion by the end of 2027. The global USB devices market is growing due to the surge in data traffic and the need for compact and efficient storage devices. In addition to technological advancements, compact USB devices with increased memory capacity contribute to the global tracksuit market. With the growing popularity of smartphones, and the advent of IoT and AI applications, comes a huge demand for data storage. USB devices, such as USB flash drives, are emerging as an effective tool for storing and sharing data more quickly. This is the primary factor driving the growth of the USB Devices Market.
Growing demand for wireless connectivity is bolstering the global USB devices market
USB is a highly useful tool for attaching peripheral devices without the need for a reliable landline connection or Bluetooth connectivity. These devices can connect a broad variety of computer peripheral devices, such as external hard disc drives, printers, sound cards, mouse, keyboards, and others. A USB drive attached to the wireless device leverages Radio Frequency (RF) technology for communicating with laptops or computers. Growing demand for wireless devices in the face of escalating environmental concerns caused by unsustainable wiring equipment favors the market’s growth. Several other factors are driving the market, including greater simplicity in setting up and installing wireless devices as well as better long-term cost-effectiveness. As a result of these factors, there is an increasing demand for wireless devices that use USB ports for connection establishment, therefore propelling the market for USB devices.
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Flourishing Consumer Electronics Industry is Favoring the Global USB Devices Market
Based on applications, the global USB devices market is segmented into consumer electronics, health & medical devices, IT & telecommunications, automotive, and others. Among these, the consumer electronics segment accounts for the largest share in the market. One of the key factors driving the demand for USB devices is the widespread use of USB cables in computers and phones. The increasing use of smartphones for remote working and online education has spurred the demand for computer peripherals, such as USB drives, and increased investment in expanding production capacity, particularly in emerging nations, which is spurring the growth of the global USB devices market.
Global USB Devices Market – By Connector Type
Based on connector types, the global USB devices market is segmented into type A, type B, type C, and lightning conductors. The type A connector segment holds the largest market share as it is commonly used in various consumer electronic devices such as smartphones, cameras, keyboards, and computers for data transfer purposes. However, the type C segment is gaining significant traction as the products are being marketed to resolve the issues arising from Type-A connectors. The Type C connector has a compact design that fits into a port regardless of the connector’s flipped direction. A 100-watt, 20-volt connection happens to be much more powerful than the older ports offering higher power. Also, Type C connectors provide a higher data transmission rate than Type A, which is one of the key factors driving the global USB devices market as it facilitates a smooth connection with computer devices.
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Global USB Devices Market – By Product
Based on product segments, the global USB devices market is segmented into a webcam, USB flash drives, memory card readers, digital audio players, computer peripherals, scanners and printers, and others. The computer peripherals segment, comprising mouse, keyboards, headsets, and other computer-related accessories, garnered the largest share of the market in 2020. The factor attributable to the growth of the global USB devices market includes propelling demand for computers and laptops across the world. It is estimated that Intel Corporation will invest over USD 91.37 billion in computer equipment manufacturing in Europe over the next decade. Furthermore, the frequent launches for USB devices offering higher transfer rates, power management, and sustainable components are also boosting the demand for USB devices, augmenting the growth of the global USB devices market.
Global USB Devices Market – Regional Insights
Based on regions, the global USB devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle-East & Africa. Presently, North America accounts for the largest share in the global USB devices. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. There has been a steady surge in computer shipments across Japan, China, South Korea, and other regions, which has demonstrated a growing potential for computer devices in the coming years. According to the Japan Electronics and Information Technology Industries Association, computer shipment increased 37.4% in 2019, indicating a growing demand for computers across the country. Since personal computers and laptops require USB ports for communicating data, shipment growth depicts a rise in the demand for other USB devices, thereby positively contributing to the growth of the global USB devices market.
Impact of COVID-19 on Global USB Devices Market
The sudden breakout of the COVID-19 pandemic has had a significant influence on the global USB device market. With so much data stored on these devices, the demand for USB storage devices soared during the pandemic. A boom in USB storage devices was due to an increase in the volume of sensitive data employees stored on these devices due to the work-from-home trend that gained immense traction during the global health crisis. In addition, a shortage of semiconductor chips in the market hindered the production of consumer products such as laptops and cellphones, posing a threat to the supply chain of the global USB devices market.
Global USB Devices Market – Competitive Landscape
The leading players in the global USB devices market are Corsair Memory, Inc, ADATA Technology Co. Ltd, Hewlett Packard Company, Western Digital Corporation (SanDisk), Kingston Technology Corporation, Toshiba Corporation, Samsung Corporation, Micron Technology, Inc, Verbatim Americas LLC, Imation Corporation, Transcend Information, Inc., Teclast Electronics Co., Ltd., Netac Technology Co Ltd, Intel Corporation, Koninklijke Philips N.V., and other prominent players.
The global market for USB devices is highly concentrated, with global technology giants gaining a majority share. Other key companies and new entrants make significant investments in research and development to gain an edge, improving the end user’s overall experience for data transfer, storage, and compatibility. Aside from this, market players are engaging in partnerships and acquisitions to gain share from the newer entrants and maintain healthy competition in the global USB devices market.
In August 2021, Kingston Digital announced the launch of a new DataTraveler Max USB drive. The company stated that the USB-C 3.2 flash drive is anticipated to deliver record-breaking speeds for data transmission of up to 1,000MB/s read and 900MB/s write, making it one of the top USB drives models in the market. The high-performance DataTraveler Max leverages the USB 3.2 Gen 2 standard, offering speeds that are about twice as high as the Gen 1.
In April 2021, Microsoft Corporation announced the launch of its new webcam, along with several other accessories, which are designed specifically for work-from-home purposes. The webcam comes at an affordable price of about USD 69.99. The Modern Webcam supports up to 1080p HDR output at 30fps and connects with USB-A, not USB-C. It is not a 4K webcam, which could be found on Microsoft Corporation’s Surface Hub 2, and doesn’t provide support for Windows Hello.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global USB devices market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global USB devices market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Scope of the Report
|Years Considered||Historical data – 2017-2020|
|Base Year – 2020|
|Forecast – 2021 – 2027|
|Facts Covered||Revenue in USD Million|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia|
|Product Service/Segmentation||By Type, By Product, By Connector Type, By Application, By Region|
|Key Players||Corsair Memory, Inc, ADATA Technology Co. Ltd, Hewlett Packard Company, Western Digital Corporation (SanDisk), Kingston Technology Corporation, Toshiba Corporation, Samsung Corporation, Micron Technology, Inc, Verbatim Americas LLC, Imation Corporation, Transcend Information, Inc, Teclast Electronics Co., Ltd., Netac Technology Co Ltd, Intel Corporation, Koninklijke Philips N.V., and other prominent players.|
- USB 1.0
- USB 2.0
- USB 3.0
- USB 4.0
- USB Flash Drives
- Memory Card Readers
- Digital Audio Players
- Computer Peripherals
- Scanners and Printers
By Connector Type
- Type A
- Type B
- Type C
- Lightening Conductor
- Consumer Electronics
- IT And Telecommunications
- Health and Medical Devices
- North America
- Latin America
- Middle East & Africa
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