USB Type-C, often abbreviated for Universal Serial Bus Type-C, is a connector system composed of 24 pins & is rotationally symmetrical in orientation. The reason behind the ‘C’ designation lies in the physical configuration of the connector & has nothing to do with the transfer specifications. Its usage is not limited to data transfer & can fulfill charging purposes. With a peak speed of 10Gbps, USB Type-C is twice as fast as the original 3.0. As far as applications are concerned, the USB Type-C is exceptionally versatile.
With its comprehensive coverage in most electronic devices such as smartphones & tablets, personal computers & laptops, digital cameras, TV chargers & adapters, media players, and many more, such connectors have become Universal. What makes it even better over earlier versions is its potential to replace all USB connectors with a single reversible plug specification. Hence, with the growing development of electronics worldwide, the growth potential of this industry is anticipated to be lucrative & significant in the future.
The Global USB Type-C Market is projected to grow at a CAGR of around 34.4% during the forecast period, i.e., 2022-27. The market is driven by the swiftly improving economic conditions of the people and their growing inclination toward buying electronic goods to make lives much more convenient entwined with new developments in these devices to increase connectivity and enhance overall user experience. For this, the deployment of USB Type-C portals is increasing rapidly in various devices like smartphones, laptops, tablets, and more, and stimulating the industry.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico|
|South America: Brazil, Argentina, Rest of South America|
|Europe: Germany, France, Italy, The UK, Spain, Rest of Europe|
|Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific|
|Middle East & Africa: GCC, South Africa, Rest of Middle East and Africa|
|Key Companies Profiled||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|
|Unit Denominations||USD Million/Billion|
The utilization of these ports is elevating substantially across different industries globally, where the healthcare sector is nowhere behind others. The utility of USB Type-C ports as chipsets in display devices & imaging techniques in various healthcare devices & settings is another prominent aspect boosting the market expansion, backed by the convenience of transferring data smoother & faster than ever.
Besides, other sectors like automotive and telecommunications are also demonstrating greater utilization of these ports to increase device connectivity and widen applications like media players, fast charging, and more, & contributing to the market expansion.
Moreover, the consumer electronics segment is the most prevalent of all. With an elevating number of devices available in the market for diverse applications, the consumer base for the same is widening as well. Today, the sales of smartphones, laptops, personal computers, digital cameras, televisions, and media players, among others, are mounting worldwide and demonstrating an extensive utilization of USB Type-C ports.
Since electronics manufacturers are developing devices that are extensively compatible with each other, the utilization of these ports is increasing swiftly and driving the market. The same aspect is also generating remunerative growth opportunities for the players to increase their production & distribution capacities and cater to the burgeoning demands worldwide. For Instance:
Furthermore, growing awareness among end-user industries about the reversible interface of USB Type-C, offering a hassle-free plug-in facility unlike rectangular ones, is also drawing significant preference toward these ports over conventionally used ones and boosting the market growth altogether.
Based on Protocol:
Among all, Thunderbolt (Fast Charging) is anticipated to dominate the Global USB Type-C Market with the largest share during the forecast period. This dominance attributes to the growing utilization of devices like smartphones and a burgeoning public demand for fast charging capabilities for their devices. USB Type-C has wider compatibility with several electronic equipment & signifies massive support in the peak speed of 40 Gbps along with one compact port, supporting high video & data bandwidth simultaneously on a single cable. Hence, more & more electronics manufacturers are inclining toward integrating these ports into the devices and catering to the user needs.
Besides, these ports also offer Power Delivery of up to 100W, which results in approximately 70% faster-charging facilities than standard 5W charging, because of which, it is swiftly gaining popularity & traction across devices and witnessing a substantial rise in the consumer base across industries worldwide. These aspects also hint toward the presence of lucrative growth opportunities for the prominent players, instigating them to widen their product portfolio and meet the rising consumer demands while making substantial contributions to the market growth through 2027.
Based on End-User:
Here, Telecommunications are anticipated to make substantial contributions to the expansion of the Global USB Type-C Market during the forecast period. This growth attributes to the extensive utilization of devices like Modem to encode digital information using carrier wave signals in the telecommunication industry. In addition, since such devices modulate & demodulate between digital data of a computer & the analog signal of the telephone line, for example, the need for USB Type-C ports is elevating rapidly to widen connectivity with different devices.
Besides, the utilization of Type-C is further escalating in the industry to bring greater convenience for processes like data, video, telephonic, or sound transmission, and driving the market across the telecommunication industry. Moreover, owing to the introduction of the latest power delivery technologies hinting toward the presence of a plethora of opportunities, the prominent players shall further widen their product offerings across the industry and augment the market growth during the forecast period.
Geographically, the Global USB Type-C Market expands across:
Here, North America is anticipated to demonstrate the fastest market growth during the forecast period. It owes principally to the expansive consumer base of electronic devices and the presence of several prominent manufacturers in the region, widening its product portfolio & consumer base.
Here, the US is anticipated to emerge as an area of remunerative opportunities for the leading players and substantial growth potential for the market. The average economy of people in the US is substantial, which brings higher disposable income for consumer electronics. Hence, the utilization of USB Type-C is relatively higher than in other areas, hinting toward growth opportunities for the prominent players.
Moreover, in a bid to attain universal charging standards for electronic devices, the US is ready to bring revolutionary changes to charging technologies, following the footsteps of the European Union to mitigate e-waste & restore sanity while purchasing electronic devices. Such mandates are expected to upsurge the demand for USB Type-C and stimulate the market through 2027.
Recently, the USB Promoter Group, composed of Apple, Intel, Texas Instruments, HP, and Microsoft, announced an upgraded version of USB 4 as 2.0. The latest version seeks to offer 80 Gbps of peak speed, almost twice as supported by even Thunderbolt 4 and USB 4. With the introduction of these fastest connectors, the USB Type-C market seems to be unstoppable in the coming year.
On the other hand, Europe is projected to dominate the Global USB Type-C Market with the largest share during the forecast period. This dominance attributes to the massive consumer base for electronics, where Type-C is the default option for most devices.
Although European Union has laid mandates for the electronic industry to standardize USB Type-C format for all phones sold to enable interoperability & reduce electronic waste, it is not likely to affect android smartphone manufacturers. In fact, these mandates shall hint toward advantages for Apple device users & boost the market expansion across Europe.
Regulatory Landscape in the Global USB Type-C Market
The increasing risk of USB–based attacks resulting in system lag or high power consumption that might damage the system might restrain the utilization of USB Type-C slots. In addition, growing concerns about the power charging station and their vulnerabilities to malicious acts causing the devices to malfunction when plugged in is another aspect that is hampering the fledged adoption of these ports in devices and slowing the growth pace of the USB Type-C Market.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global USB Type-C Market is projected to grow at a CAGR of around 34.4% during 2022-27.
A. Increasing causes of USB-based cyberattacks & higher heat dissipation in applications using USB Type-C might restrain the fledged market growth during the forecast period.
A. Thunderbolt (Fast Charging) is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global USB Type-C Market during the forecast period.
A. ‘Europe’ would offer substantial growth prospects in the Global USB Type-C Market during the forecast period 2022-27.