USB Device Market Size and Competitive Analysis by 2028

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 increasing use of consumer electronics such as smartphones and laptops in developed and developing countries is mainly attributed to rising disposable income, increasing population, and growing Internet penetration. The ongoing significant technological developments have led to a rise in the penetration of these devices across several economies. In 2020, as per the Consumer Technology Association (CTA), sales of smartphones in the US accounted for 152 million units. USB devices have become a dominant interface to address growing requirements for swift data transfer between end devices, such as laptops, smartphones, PCs, and digital cameras. Thus, with the escalating demand for consumer electronics and data transmission products, the global USB devices market players focus on launching new products to achieve sustainable growth and distinguish themselves from their competitors, thereby contributing to the market growth.

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USB Device Market: Strategic Insights

Impact of COVID-19 Pandemic on USB Device Market 

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 on the higher side owing to the high emphasis on remote working and remote learning practices following a 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.

Market Insights – USB Device Market  

Surging Adoption of USB Type-C in Medical Industry

The growing technological advancements in USB Type-C are likely to increase its scope in the medical industry. Prominent players are highly designing next-generation USB devices to stay ahead in the competitive market. For instance, TE Connectivity launched its onboard USB Type-C receptacle connector; it is a waterproof device that protects systems in severe environments with IPX8 (waterproof rating) dust and water ingression performance. With the given waterproof rating, the USB Type-C connector maintains a continuous connection at a water depth of 1.5 m for a minimum of 30 minutes. Further, the growing aging demographics, combined with increasing demand for early-stage diagnosis of chronic diseases, is boosting the demand for medical imaging equipment worldwide, thereby boosting the demand for next-generation USB Type-C devices. Thus, such a rise in the use of USB Type-C systems, especially in the medical device manufacturing industry, is likely to provide growth opportunities to the USB device market players in the coming years.

Application-Based Insights

Based on type, the USB device market is segmented into consumer electronics, automotive, IT & telecommunication, and healthcare and medical devices. The IT & telecommunication segment is likely to hold the largest market share in 2021.

Players operating in the USB device market are mainly focused on the development of advanced and efficient products.

• In October 2021, SK hynix Inc. announced its launch of the first DDR5 DRAM. It is a high-speed and high-density product optimized for big data, artificial intelligence (AI), and machine learning (ML) as a next-generation standard of DRAM.

• In August 2021, Analog Devices, Inc. announced the acquisition of Maxim Integrated Products, Inc. The combination further strengthens ADI’s position as a high-performance analog semiconductor company with trailing 12-month revenue of over US$ 9 billion, industry-leading margins, and free cash flow of over US$3 billion on a pro forma basis.

The USB device market is segmented into device standard type, product, connector type, application, and geography. Based on the device standard type, the market is segmented into USB 2.0, USB 3.0, and USB 4.0. In 2021, the USB 3.0 segment is likely to hold the largest market share. Based on the product, the USB device market is segmented into webcams, flash drives, memory card readers, digital audio players, computer peripherals, and others. In 2021, the computer peripherals segment is likely to hold the largest market share. Based on connector type, the USB device market is segmented into Type A, Type B, Type C, and lightning connector. 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.

The regional trends and factors influencing the USB Device Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses USB Device Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

USB Device Market Report Scope

USB Device Market Players Density: Understanding Its Impact on Business Dynamics

The USB Device Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

USB Device Market – Company Profiles

• ADATA Technology Co., Ltd
• Corsair
• Imation Corporation
• Kingston Technology Corporation
• Samsung Corporation
• SanDisk Corporation
• Toshiba Corporation
• Transcend Information, Inc
• Diodes Incorporated
• MaxLinear
• SK Hynix Inc
• VIA Labs, Inc
• KIOXIA Corporation
• Dialog Semiconductor
• ROHM CO., LTD
• Silicon Laboratories, Inc.
• ON Semiconductor Corporation
• NXP Semiconductors
• Cypress Semiconductor Corporation
• Texas Instruments Incorporated
• Renesas Electronics Corporation
• Microchip Technologies, Inc
• Maxim Integrated