The global USB Type-C market is predicted to register a CAGR of 23.6% over the forecast period, as per FMI’s analysis. The industry’s volume size is anticipated to increase from USD 2,351.9 million units in 2023 to USD 19,570.57 million units by 2033 end.
The high prevalence of USB Type-C is underpinned by the newer versions of phones or laptops that have in-built USB-C ports. The robust adoption of USB Type-C to deliver data and receive or provide power to computing devices is projected to help the device score larger revenues over the forecast period. The growing popularity of this connector in the electronics sphere has caused consumers of other port types to hop onto this technology.
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To add to the already rising sales of USB Type-C, the support from European Commission is predicted to be instrumental in the market growth of USB Type-C. The aforementioned Commission is in the quest for implementing a law to coerce mobile phones manufacturers, such as Apple, to embrace USB Type-C as the standard port by the end of 2024.
Several advantages associated with the use of USB Type-C can be attributed to its surging adoption rate by end-user industries. The user-friendly port design of USB-C enables faster device connection. Additionally, the phenomenal power delivery of the Type-C port helps the phone or laptop regain full battery at a faster speed. The blazing transfer speed of USB-C, i.e., up to 10 Gbps transfer speed, is another beneficial feature promoting the sales of USB Type-C.
Key Highlights of the USB Type-C Market:
- The United States USB Type-C industry is projected to procure lion’s share over the next 10 years. The market is estimated to gain total sales of US$ 5,429.4 million in 2023. By 2033, the United States sales of USB Type-C are predicted to reach US$ 36,829.28 million.
- Germany is anticipated to cross sales worth US$ 1,411.1 million by 2023 end, resulting in its prominent position in the European market. The market growth in the country is predicted to be a result of its technology-savvy population.
- In East Asia, China is expected to record remarkable sales over the forecast period. The country is assessed to witness product sales worth US$ 1,984.6 million by 2023. The rising young population in the country is projected to be instrumental in the market growth in China.
Key players in the global USB Type-C industry include
- Anixter International
- STMicroelectronics
- NXP Semiconductors
- Texas Instruments
- Belkin International Inc.
- Microchip Technology Inc.
- Silicon Laboratories
- ON Semiconductor
- Hirose Electric Group
- Analogix Semiconductor Inc.
- Analog Devices Inc.
- ROHM Semiconductor
- Richtek Technology Corporation
- Diodes Incorporated
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New Developments in the Global USB Type-C Market:
- In December 2022, STMicroelectronics introduced the X-CUBE-TCPP software pack that enhances the portfolio of USB Type-C STM32 interface IP (intellectual property) and port-protection ICs. The new launch helps simplify the sustainable product design leveraging the USB Power Delivery.
- In February 2021, STMicroelectronics launched the USB Type-C Power Delivery 3.0 version reference design, in addition to Programmable Power Supply (PPS). These new developments are projected to facilitate compact, easy-to-use, and efficient power adapters to accelerate to up to 27W with 0 power operation. USB PPS helps save power, and lessen heat dissipation and device-charging times to cut costs on the device side.
Segmentation of USB Type-C Market
USB Type-C Market by Application:
- Smartphones & Tablets
- Personal Computers & Laptops
- Digital Cameras
- TVs
- Chargers & Adapters
- Media Players
- Others
USB Type-C Market by Industry:
- Consumer Electronics
- Automotive
- Media & Entertainment
- Telecommunications
- Healthcare
- Others
USB Type-C Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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