“Global USB Cable Market to reach a market value of USD 68.4 Billion by 2031 growing at a CAGR of 17.3%”
The Global USB Cable Market size is expected to reach $68.4 billion by 2031, rising at a market growth of 17.3% CAGR during the forecast period.
The United Kingdom, Germany, and France are among the European countries that are recognized for their strong emphasis on technology adoption and innovation. The market has been significantly influenced by the region's emphasis on sustainability and standardization. The European Union's regulations, such as the mandate for a common charging standard (USB-C) for smartphones and other portable devices, have promoted the adoption of USB technology. Thus, the European region would acquire nearly 30% of the total market share by 2031.
These cables are in high demand due to the growing number of consumer electronics, including smartphones, tablets, and laptops, that necessitate them for data transmission and charging. The proliferation of smart home devices, including smart speakers, cameras, and home automation systems, further underscores the importance of these cables. Hence, the proliferation of electronic devices is a significant driver of the market.
Additionally, Consumers have been increasingly utilizing devices such as fitness trackers, smartwatches, and health monitoring devices as the wearable technology sector has expanded considerably in recent years. One critical aspect of wearable technology is its reliance on these cables for charging. This, in turn, propels the growth of the market, highlighting the interdependence between advancing wearable technology and the demand for compatible accessories.
However, Innovations such as Bluetooth, Wi-Fi Direct, and wireless charging are increasingly becoming the norm, offering consumers a convenient, tangle-free experience. Wi-Fi Direct offers another robust wireless solution, enabling devices to connect directly to each other without the need for a wireless access point. Hence, the rise of wireless technologies like Bluetooth, Wi-Fi Direct, and wireless charging may hamper the maximum adoption of these cables, thereby restricting the market's growth.
Based on type, the market is divided into type A, type B, and type C. The type C segment procured 36% revenue share in the market in 2023. USB Type C is renowned for its advanced features and versatility, offering high-speed data transfer rates, enhanced power delivery, and a reversible design that simplifies the connection process.
Based on functionality, the market is segmented into USB 3.x, USB 2.0, USB 1.x, and USB 4. The USB 2.0 segment witnessed 30% revenue share in the market in 2023. USB 2.0 cables are prevalent in devices such as keyboards, mice, printers, and many consumer electronics that do not require the high speeds offered by newer USB standards.
On the basis of product type, the market is divided into USB data cable, USB charger, and multifunctional USB cable. The USB charger segment procured 36% revenue share in the market in 2023. USB adapters are essential for the powering and recharging of a wide range of electronic devices, including smartphones, tablets, Bluetooth accessories, and wearable technology.
By industry, the market is divided into IT & telecommunication, commercial, automotive, healthcare, industrial, and others. The commercial segment procured 24% revenue share in the market in 2023. Retail stores, hospitality establishments, educational institutions, and entertainment venues rely on these cables for electronic devices and systems.
On the basis of application, the market is classified into computer, smartphone, camera, printer, scanner, TV, and others. The smartphone segment recorded 24% revenue share in the market in 2023. Smartphones are ubiquitous in modern society, serving as essential communication, entertainment, and productivity tools.
Free Valuable Insights: Global USB Cable Market size to reach USD 68.4 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired 35% revenue share in the market in 2023. The strong performance of this region can be attributed to several factors, including the high penetration of electronic devices, advanced technological infrastructure, and the presence of major tech companies.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 19.2 Billion |
| Market size forecast in 2031 | USD 68.4 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 17.3% from 2024 to 2031 |
| Number of Pages | 434 |
| Number of Tables | 720 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Functionality, Product Type, Industry, Application, Region |
| Country scope |
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| Companies Included | Bose Corporation, Eaton Corporation PLC (Tripp Lite), Samsung Electronics Co., Ltd., Advanced Micro Devices, Inc., Panasonic Corporation, Nikon Corporation, Emerson Electric Co. (National Instruments Corporation), Future Technology Devices International Limited, Belkin International, Inc. (Foxconn Interconnect Technology Limited) and Sony Corporation |
By Type
By Functionality
By Product Type
By Industry
By Geography
The Market size is projected to reach USD 68.4 billion by 2031.
Rapid proliferation of electronic devices are driving the Market in coming years, however, Rapid advancement and proliferation of wireless technologies restraints the growth of the Market.
Bose Corporation, Eaton Corporation PLC (Tripp Lite), Samsung Electronics Co., Ltd., Advanced Micro Devices, Inc., Panasonic Corporation, Nikon Corporation, Emerson Electric Co. (National Instruments Corporation), Future Technology Devices International Limited, Belkin International, Inc. (Foxconn Interconnect Technology Limited) and Sony Corporation
The expected CAGR of this Market is 17.3% from 2024 to 2031.
The USB 3.x segment generated the highest revenue in the Market by Functionality in 2023; thereby, achieving a market value of $27 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $22.6 billion by 2031.
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