Future Market Insights

USB Type-C Market Estimated to Expand at a Robust CAGR over 2028: FMI Study


Valley Cottage, NY -- (SBWIRE) -- 02/15/2019 -- USB Type-C Market: Introduction

USB (Universal Serial Bus), launched in mid-1990s, is a popular wired interface standard which has been majorly used for short-distance data transfer technology. As personal computers and their peripherals were the first devices to tap the consumers market, USB gained traction in this product category. It soon covered a wide range of consumer electronic devices, wireless devices, and automotive applications. One of the major parameters for which the USB has evolved is the data rate which has increased exponentially in recent times and has come to the USB Type-C category.

USB Type-C Market: Drivers and Challenges

Many factors are driving the market for USB Type-C. One such major factor is the speedy and secure sharing of data. As the efficiency of USB Type-C is increasing, the speed and security related parameters of USB Type-C are getting better. This has increased the market for USB Type-C and has been a major driver for the USB Type-C to be used in different applications. Other drivers for the USB Type-C market include the increasing penetration of smartphones. Smartphones, which are an important part of consumer lifestyle, now have many functions which drain out their batteries. As smartphones has are use in almost everything today, there is a demand for faster charging hardware components. The advent of USB Type-C cables and connectors has made this possible. Another driver for the USB Type-C market is the use of these USB Type-C in applications other than just smartphones. Such advanced applications include drones, automobiles, virtual reality headsets, and sound bars. These would increase the demand for USB Type-C cables and connectors to a great extent.

Some of the restraints for the USB Type-C market have been related to the presence of the alternatives in the market. The presence of alternatives like USB 2.0 and others which are universally accepted and are prevalent and compatible with many devices already, acts as a restraint for the USB Type-C market. Hence, the market is slowing down to an extent. Also, these alternatives are comparatively inexpensive so they have a competitive advantage over the USB Type-C in the market.

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USB Type-C Market: Segmentation

The USB Type-C market can be segmented into various segments, but as per analysis, the market for USB Type-C is most suitably segmented by application, product, protocol, and region.

On the basis of application, the USB Type-C market can be divided into:

Consumer Electronics

On the basis of product, the USB Type-C market can be divided into:

Mobile Phone & Tablets

On the basis of protocol, the USB Type-C market can be divided into:

USB Audio over USB Type-C

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USB Type-C Market: Key Players

Some of the key players in the USB Type-C market are- Anker Innovations Limited, Cable Matters Inc., Belkin International, Inc., Amazon.com, Inc., and, Shenzhen Witarea Technology, and some of the potential manufacturers which are likely to penetrate further the USB Type-C market are Molex, LLC, TE Connectivity Ltd., Amphenol LTW TECHNOLOGY CO., LTD., Japan Aviation Electronics Industry, Ltd., Shenzhen Fleconn Precision Technology CO., Limited, and Qualtek Electronics Corporation among others.