The Global USB Type-C Market is projected to grow at a CAGR of 34.4% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the growing number of devices and their integration across industries like automotive, healthcare, telecommunication, information technology, & robotics, among others, increasingly using USB Type-C slots to increase device connectivity for convenience & diverse applications.
Besides, growing penetration of devices like smartphones, laptops, personal computers, tablets, TV, cameras, & headphones, among others, are the other aspects generating lucrative opportunities for the leading players. It is enabling the manufacturers to widen the development capacities & integrate USB Type-C slots in different devices, leading the market toward substantial growth, further states the research report, “Global USB Type-C Market Analysis, 2022.”
Massive Consumer Base for Thunderbolt to Drive the USB Type-C Market
Based on the Protocol, Thunderbolt is anticipated to dominate the Global USB Type-C Market with the largest share during the forecast period. This dominance attributes to the growing consumer inclination toward Fast Charging solutions for different devices & attain convenience, augmenting the demand for USB Type-C portals because of their massive support in the peak speed of 40 Gbps and extensive compatibility with a wide range of devices.
Besides, the increasing disposable income of the people and their growing dependency on procuring electronic devices for convenience is also hinting toward more investment in thunderbolts for faster charging. Talking of speed Thunderbolt, owing to its compact port, supporting high video & data bandwidth simultaneously on a single cable, and capability to offer Power Delivery of up to 100W, the demand for these protocols are set to mount swiftly and drive the market through 2027.
Wide Electronic Device Adoption in the US, North America to Stimulate the Market Expansion
On the geographical front, North America is anticipated to demonstrate the fastest growth in the Global USB Type-C Market during the forecast period, where the US is projected to emerge as an area of remunerative opportunities for prominent players.
This growth attributes to the US being an early adopter of technologies and electronics, entwined with improving economic conditions of the people, up-surging the demand for USB Type-C ports in devices to widen the connectivity.
Besides, the swift expansion of the automotive industry and growing integration of USB Type-C ports in vehicles for media & entertainment, connectivity, charging, and other facilities are also contributing to the market expansion across the region.
The leading players in the Global USB Type-C Market are Analogix Semiconductor Inc., Analog Devices Inc., Anixter International, Belkin International Inc., Diodes, Inc., Hirose Electric Group, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductor Corporation, ON Semiconductor Corporation, ROHM Semiconductor, Richtek, Technology Corporation, STMicroelectronics, Silicon Laboratories, Texas Instruments, Others
Key Questions Answered in the Research Report