USB Devices Market New Technologies with 8.7% of CAGR by 2027

The global consumer electronics market is strongly stimulated due to the significant adoption of smartphones among people of all age groups. Universal serial bus (USB) or USB key or USB stick devices store data in flash memory with a USB-integrated interface. Webcams, flash drives, memory card reader, digital audio player, and computer peripherals are among the devices that can be connected to USB devices. Once the USB is plugged into these devices, the operating system automatically identifies the essential drives for displaying content and files stored on the drive. Unlike high-definition multimedia interface (HDMI) cables and Ethernet, the USB cables come with different types, such as Type-A, Type-B, Type-C, and lightning connectors. The USB Type-C specifications are highly compatible with Intel Thunderbolt 3, which can further surge the data transfer speeds by three-folds. USB devices can also be used to charge tablets and smartphones by connecting them to the powered devices such as PCs and laptops.

The USB device market is in the developing phase and is compatible with many devices such as smartphones, tablet PCs, digital cameras, and smart TVs. With the growing penetration of tablets and smartphones globally, the USB device technology is also witnessing substantial growth. The mounting demand for better connectivity performance between electronic devices is a significant factor contributing to the market growth. However, the growing security issues hinder the market growth. Besides, the growing complexities related to the replacement of old USB standards with new ones are posing challenges for the market vendors. Moreover, the continuous development of high bandwidth storage devices, technological innovations, and growing markets in APAC is likely to offer numerous opportunities for the growth of the market players.

ADATA Technology Co., Ltd., Corsair, Hewlett-Packard Development Company, Imation Corporation, and Kingston Technology Corporation – Prominent Market Participants in USB Devices Market

The global USB Devices market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. APAC holds the dominant share in the USB Devices market, whereas North America is expected to be the fastest-growing region in the global market. The growth of new enterprise is also fueling the demand for USB devices used in video conferencing applications. Strategic government initiatives in India such as, Digital India, Make in India, as well as Startup India, are providing favorable business condition to the SME sector in the country. Further, the Chinese government has always been helpful in creating its tech startup ecosystem by implementing technology-friendly national strategies and policies, as well as significantly investing in tech businesses. The Singapore government has also established government agencies for supporting its tech startups, which includes Info-communications Media Development Authority, the Economic Development Board, as well as the Standards, Productivity, and Innovation Board. Additionally, the region has secured robust IT infrastructure and strong positions in areas of development. Moreover, the rise in smartphone and internet penetration in countries in APAC, along with BYOD (Bring-Your-Own-Device) trend is acting as a significant opportunity for the players operating in the USB device market.

The top five companies in the USB Devices market include ADATA Technology Co., Ltd., Corsair, Hewlett-Packard Development Company, Imation Corporation, and Kingston Technology Corporation. The above listing of key players is derived by considering multiple factors such as overall revenue, current USB Devices product portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global USB Devices market ecosystem, such as Samsung Corporation, SanDisk Corporation, Toshiba Corporation, Transcend Information, Inc., and Verbatim Americas LLC.

Most of the market initiatives were observed in North American and Asian market, which have a high potential for USB Devices market growth. Few of the important market initiatives and product developments from the industry are mentioned below: