USB Cable Market Expected to Reach $69.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “USB Cable Market," The usb cable market was valued at $12.7 billion in 2021, and is estimated to reach $69.9 billion by 2031, growing at a CAGR of 20.2% from 2022 to 2031.

USB, or Universal Serial Bus, is devised to connect with different types of devices using a single port and a cable. Today, USB cables can not only share information but also deliver power. USB is the cable of choice for many audio interfaces, laptops, smart phones and tablets. It not only handles the data transfer and minimal charging of previous USB connectors, but it can also provide up to 100W of power to a device. USB cables are hot pluggable, it means, it can connect and disconnect the cables while the computer is running without fear of freezing the device.

Some of the prime drivers of the USB cable industry are surge in demand for consumer electronics, rise in penetration of video in demand, video conferencing, gaming, and home surveillance devices, and increase in number of data centers, which is opportunistic for the market growth. Considering these factors, the USB cable market is estimated to experience rapid growth in the future. However, USB poses security issues act as major barrier for the USB cable market growth. Potential opportunities in the automotive industry, and the emergence of USB type C are expected to create lucrative opportunities for market growth during the forecast period.

The USB type A segment was the highest contributor to the market in 2021, owing to its host side usage in PC, keyboard, server, hub as well as small peripherals. The USB 3.x segment has a prominent share in the market in 2021, owing to its high speed of up to 4.8 Gbps which is nearly 10 times that of USB 2.0. The latest revision of USB standard USB 3.x and USB 4 facilitates faster transfer rates and has been directly influencing the USB cable market trends over the forecast period of 2022 to 2031. In product type, the USB data cable segment attributed for maximum market share in 2021, owing to its ability to carry more information per second (12 mb/second) than parallel cables (115 kb/second).

In addition, computer had a significant USB cable market size in 2021, owing to their usage to connect keyboard, mouse, printer, or scanner to the computer. Moreover, on the basis of industry vertical, the IT & telecommunication segment had a significant USB cable market share in 2021, owing to the fact that it offers a sufficiently fast serial data transfer mechanism at low cost and provides improved power efficiency. In, charging power delivery, 27 To 45W was the highest contributor to the market in 2021, owing to an increase in the lightning charger which is highly adopted by smartphone manufacturers globally.

Region-wise, North America holds a significant share in the global USB cable market. The U.S. holds the major market share, owing to the presence of leading market players and the higher rate of technology adoption in the region.

The key players profiled in the report for USB cable market analysis include Belkin, Bose Corporation, Digilent Inc., Future Technology Devices International Ltd., ION Audio, Nikon Corporation, Panasonic Corporation, Samsung Electronics Co., Tripp Lite, and Xilinc Inc. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the USB cable market.