DUBLIN--(BUSINESS WIRE )--The "USB Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Device Standard Type, Product (Webcams, Flash Drives, Memory Card Reader, Digital Audio Player, USB Hub and Docking Station, Computer Peripherals, and Others), Connector Type, and Applications" report has been added to ResearchAndMarkets.com's offering.
The USB device market was valued at US$ 35,339.3 million in 2021 and is projected to reach US$ 65,857.2 million by 2028; it is estimated to register a CAGR of 9.3% from 2021 to 2028.
The growing inclination toward modern vehicle entertainment and infotainment systems is compelling auto manufacturers to provide a reliable connection between the car's display and users' smartphones or tablets. Thus, the USB device vendors catering to the automotive segment are designing USB products compatible with different automotive systems.
Microchip Technology Inc. offers five USB 2.0 smart hub ICs available in various architectures; they are easy to use and provide flexibility to fit into car manufacturers' design requirements.
Moreover, in February 2019, Microchip Technology Inc. rolled out a USB 3.1 Gen1 SmartHub IC that provides faster data rates and mitigates indexing times to enhance car user experience. At present, consumers expect vehicle entertainment and infotainment systems to respond instantly.
Thus, companies are focusing on offering robust USBs to ensure maximum functionality in the automotive media hub. Thus, the escalating demand for USB devices in entertainment and infotainment systems is driving the overall market growth.
The COVID-19 hampered the adoption of USB devices worldwide in 2020 as sales of industries such as electronics and automotive were hampered due to the impact on supply lines. Meanwhile, the adoption of USB devices across IT & telecom and healthcare was reported as higher due to the high emphasis on remote working and learning practices following the rise in the number of patients across hospitals due to COVID-19.
However, from Q1 of 2021, the supply lines of the automotive and electronics industry started to stabilize, and revenue of these industries showcased positive momentum, which subsequently propelled the USB devices market in the world.
In 2021, the type B segment is likely to hold the largest market share. Based on application, the market is segmented into consumer electronics, IT and telecommunications, automotive, healthcare and medical devices, and others.
In 2021, the IT & telecom segment is likely to hold the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the global market.
5. USB Device Market - Key Market Dynamics
5.1.1 Increasing Demand for Consumer Electronics
5.1.2 Growing Demand for USB Products in Automotive Entertainment and Infotainment Systems
5.3.1 Surging Adoption of USB Type-C in Medical Industry
5.4.1 Surge in Popularity of Smart Homes
5.5 Impact Analysis of Drivers and Restraints
6. USB Device Market Global Overview
6.1 USB Device Market - Revenue and Forecast to 2028 (US$ Million)
6.2 Market Positioning - Global Market Players Ranking
7. USB Device Market Revenue and Forecast to 2028 - By Device Standard Type
7.2 Global USB Device Market Breakdown, by Device Standard Type, 2020 & 2028
8. USB Device Market Revenue and Forecast to 2028 - By Product
8.2 Global USB Device Market Revenue and Volume, By Product, 2020 & 2028
8.3.2 Webcams: USB Device Market - Revenue and Volume, Forecast to 2028 (US$ Million)
8.8 USB Hub and Docking Station
9. USB Device Market Revenue and Forecast to 2028 - By Connector Type
9.2 Global USB Device Market Breakdown, By Connector Type, 2020 & 2028
9.3.2 Type A: USB Device Market - Revenue and Volume, Forecast to 2028 (US$ Million)
10. USB Device Market Revenue and Forecast to 2028 - By Applications
10.2 Global USB Device Market Breakdown, By Applications, 2020 & 2028
10.3.2 Consumer Electronics: USB Device Market - Revenue and Volume Forecast to 2028 (US$ Million)
11. USB Device Market - Geographic Analysis
12. USB Device Market- COVID-19 Impact Analysis
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900