The global USB Type-C market is projected to exhibit a robust CAGR of 23.6% during the forecast period 2022-2028. The universal serial bus (USB) has evolved over time, and Type-C is the fifth version of the USB family. Consumers benefit from USB Type-C as it provides high-speed data transfer, a high-wattage power supply cable, and a secure way to connect peripheral devices.
The reversible interface on these connectors allows them to connect a plug in any way, enabling connection to technological devices and gadgets easily. Apple, Google, and Microsoft are among the major tech companies that have embraced the USB Type-C. The deployment of new power supply technologies and USB Type-C connector technologies are opening multiple lucrative opportunities in the industry.
The factors that are driving the growth of the USB Type-C market include the increase in the number of consumer electronics, the increasing trend of work from home and remote learning, an increasing number of innovations and technological advancements, and rapid urbanization. However, factors such as the presence of substitutes such as micro-USB and incompatibility issues hinder the market growth.
Telecommunication and automotive sectors to contribute significantly to the market growth
With the development and deployment of power delivery and connecting technologies, the applications of USB Type-C in the telecommunication industry have surged and thus contributes significantly to the market growth. The telecommunications industry is driven by USB Type-C products’ high adaptability in connection and audio transmission.
The global USB type-C market is expected to witness strong growth in the automotive sector with the rising adoption and use of portable electronics and the user’s ability to charge their gadgets in their cars while driving is becoming increasingly vital. In the long run, the anticipated spike in demand for electric vehicles would also help to improve market dynamics. The USB’s power transmission mechanism makes charging devices exceedingly convenient for users. Furthermore, the high transfer rate of USB allows next-generation infotainment systems to handle a wide range of in-vehicle features such as audio playback, screen and app sharing, data connectivity, etc.
High demand for USB Type-C in the US
Geographically, the global USB Type-C market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa. The US accounts for a significantly high share in the North America USB Type-C market. The regional growth of the market is attributed to the increasing penetration of consumer electronics devices, coupled with the growing adoption in automotive and healthcare applications.
Moreover, the country constitutes a large customer base with higher disposable income and higher penetration of consumer electronics, which further propels the demand for USB Type-C cables. In addition, the country is home to a major automotive production industry, which tends to drive the regional demand for the market. Further, Asia-Pacific is expected to exhibit lucrative growth in the market during the forecast period. There is an increasingly high demand in the region with the presence of a massive consumer electronics industry and large population base in countries such as China and India.
Market Structure and Competitive Landscape
The global USB Type-C market is characterized by the presence of various players operating in the market. Some of the prominent players that contribute significantly to the global USB Type-C market include Texas Instruments, Diodes Inc., Silicon Laboratories, Richtek Technology Corp., Microchip Technology Inc., NXP Semiconductor Corp., Infineon Technologies AG, Anixter International, STMicroelectronics, and Belkin International Inc. among others.
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Partnerships and collaborations, product launches, mergers & acquisitions, and geographical expansion are some of the strategies followed by industry players. Some of the key developments in the global USB Type-C market include,
- In November 2021, a complete 140W USB Type-C power delivery (PD) 3.0 adapter evaluation and development kit has been launched by Diodes Incorporated.
- In April 2020, Parade Technologies announced its expansion of high-speed USB Type-C connectivity portfolio with the acquisition of Fresco Logic.
Key Market Segmentation
RationalStat has segmented the global USB Type-C market on the basis of application, protocol, end user, and region.
- By Application
- Smartphones & Tablets
- Personal Computers & Laptops
- Digital Cameras
- Printers & Scanners
- Others (Chargers & Adapters etc.)
- By Protocol
- USB Audio over USB Type-C
- By End User
- Consumer Electronics
- Media & Entertainment
- Others (Healthcare etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for USB Type-C manufacturers and suppliers, contract manufacturers, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global USB Type-C market is expected to grow at a CAGR of approximately 23.6% during the forecast period 2022-2028.
North America holds a prominent share of the global USB Type-C market.
The global market for USB Type-C was US$ 13 Billion in 2021.
Rapid urbanization and the increased use of consumer electronics are the major factors driving the growth of the global USB Type-C market.
Major companies operating in the global USB Type-C market are Texas Instruments, Diodes Inc., Silicon Laboratories, Richtek Technology Corp., Microchip Technology Inc., NXP Semiconductor Corp., Infineon Technologies AG, Anixter International, STMicroelectronics, and Belkin International Inc. among others.