USB Type-C Market to Expand by USD 17.35 Billion (2024-2028): Technavio

• 03 Sep 2024
• TM Team
• 0 Comments

The global USB type-c market size is estimated to grow by USD 17.35 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  17.1%  during the forecast period. Increasing adoption of premium smartphones in emerging markets is driving market growth, with a trend towards growing penetration of wireless charging outlets. However, fluctuations in prices of raw materials and rising operational costs  poses a challenge. 

Key market players include AUK, Belkin International Inc., Bright Industries, ByteCable, Cabled , Diodes Inc., Farreach Electronic Co., Ltd., HIROSE ELECTRIC Co. Ltd., Hon Hai Precision Industry Co. Ltd., Infineon Technologies AG, MediaTek Inc., Microchip Technology Inc., Moke International Group Ltd., NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., Shenzhen STC Cable, Silicon Laboratories Inc., STMicroelectronics International N.V., Texas Instruments Inc., and Wandkey Electronic Co.,Ltd..

Market Driver

The USB Type-C market is experiencing significant growth due to its versatility and compatibility with various devices. This connector type offers faster data transfer rates and charging capabilities. Major tech companies are integrating USB Type-C ports into their latest products, including laptops, smartphones, and tablets. The market is expected to continue expanding as more manufacturers adopt this technology. USB Type-C's reversible design and ability to support Power Delivery make it a preferred choice for consumers and businesses alike. 

The USB Type-C market is booming as more and more electronic devices adopt this versatile technology. Smartphones, tablets, laptops, and MacBooks are leading the charge, with USB Type-C ports becoming standard. The trend is driven by the need for faster data transfer and charging capabilities. USB Type-C is also making waves in industries like robotics, aerospace, and automotive, where voltage adjustment and temperature protection are crucial. With increasing internet penetration, USB Type-C devices are finding applications in wireless computing and consumer electronics. Thunderbolt 3, Thunderbolt 4, USB4, and DisplayPort are key specifications that set USB Type-C apart. USB Type-C technology offers voltage compensation and temperature protection, making it ideal for use in commercial and private aircraft, automobiles, medical devices, and USB power adapters and wall chargers. As the USB Type-C industry grows, it's essential to consider import and export analysis and the environmental impact, including electronic waste management. 

Market Challenges

• The USB Type-C market is experiencing significant growth due to its versatility and compatibility with various devices. This connector type offers faster data transfer speeds and charging capabilities. Major tech companies are integrating USB Type-C ports into their latest devices, driving market demand. The USB Implementers Forum (USB-IF) continues to develop and promote USB Type-C technology, ensuring its widespread adoption.
• The USB Type-C market is growing rapidly due to its versatility and compatibility with various electronic devices, including automotive infotainment systems, Apple devices, commercial and private aircraft, robots, and personal computers. The USB Type-C industry faces challenges in transferring data at high speeds and providing sufficient power for devices like digital cameras and voltage-hungry laptops. USB Type-C connections in automobiles and medical devices require import-export analysis for regulatory compliance. Thunderbolt 3, Thunderbolt 4, USB4, and DisplayPort specifications are key technologies driving the market. USB Type-C power adapters and wall chargers are essential accessories for this technology. However, managing electronic waste from discarded USB Type-C products is a significant challenge for the industry.