Noida, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The growth of the IT industry and booming e-sports industry across the globe are the key drivers for the growth of the global USB Hub market. Utilizing a USB hub is the best way to access multiple connected devices simultaneously…
A recent study by the strategic consulting and market research firm BlueWeave Consulting revealed that the Global USB Hub market was worth USD 596.7 Million in 2020. According to the study, the market will grow at a CAGR of 7.6% during the forecast period (2021-2027) to reach a value of USD 977.0 Million by 2027. Growth in the IT industry has been one of the major drivers of the USB hub market worldwide. USB hubs allow multiple devices to be connected simultaneously and are thus in growing demand in the IT sector, residential sectors, the gaming industry, and other industries. The global IT industry is experiencing growth due to emerging technologies such as Big Data, Machine Learning, AI, and Blockchain. With the adoption of 5G, Industry 4.0, and IoT, the USB Hub market is predicted to grow even more in the coming years.
Booming Gaming & eSports Industry is expected to drive the market during the forecast period
Gaming and eSports are booming worldwide, as evidenced by the growing popularity of eSports and video games. The eSports viewership reached 458 million people in 2019, with USD 957.0 million in eSports’ revenue in the multibillion-dollar global game industry, with half a billion new players in the last three years alone. Professional gamers use USB hubs to connect multiple devices such as mouse, keyboards, headsets, controllers, and webcams.
In professional gaming tournaments like Arena of Valor World Cup, Arena of Valor International Championship, Call of Duty League, All India Esports League, Electronic Super League, and FIFA Interactive World Cup, players can win or lose within seconds. Therefore, it is essential to have top-performing gaming accessories. The fast data transfer speed of USB 3.0 and USB 3.1 enables gamers to operate multiple devices simultaneously without worrying about the data transfer speed. Thus, with the viewership of eSports and gaming growing, the investment is expected to go up as well and drive the growth of the global USB hubs market during the forecast period.
EU’s Decision for a Standard USB Type-C Charger Comes as a Lucrative Opportunity for Market Players
The European Union announced in September of 2021 that all portable electronic device manufacturers would have to introduce USB Type-C ports and fast charging technology for the EU market. According to the European Commission, this decision will allow consumers to buy new devices without purchasing new chargers. Additionally, it will save them USD 293.0 million per year on unnecessary charger purchases. Further, the Commission reported that European consumers spend more than USD 2.8 billion on standalone chargers, which generate 11,000 tons of e-waste every year. The new decision will ban other types of chargers and is expected to create exciting opportunities for the market players to target and contribute to the growth of the global USB Hub market.
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The USB 3.1 is anticipated to grow at the highest CAGR during the forecast period
In 2020, the USB 3.1 segment accounted for a lucrative market share in the global USB Hub market and is expected to reach significant CAGR during the forecast period, i.e., 2021-2027. USB 3.1 is the latest industry standard for data transfer having two versions of transfer speed, i.e., USB 3.1 Gen 1 and USB 3.1 Gen 2. While USB 3.1 Gen 1 has a transfer speed of 5Gbps (SuperSpeed or SS), USB 3.1 Gen 2 has a speed of 10 Gbps and is also known as SuperSpeedPlus or SSP. The USB 3.1 specification provides a maximum power connection of 20V/5A 100W, allowing high-power devices to be powered directly from computers rather than by external sources.
Impact of COVID-19 on the Global USB Hub Market
The COVID-19 wave swept through Europe and announcements of lockdowns from government officials intensified the situation. Since the governments of different countries announced nationwide lockdown, semiconductor manufacturers had to reduce production in 2020 due to concerns the pandemic's effects would dampen the demand for semiconductors. However, the demand for semiconductors surged drastically as a result of the pandemic, and the manufacturers are now struggling to catch up with demand. The pandemic also severely disrupted supply chains, with plants being shut down and borders being closed.
Furthermore, the emergence of home IT and cloud technologies led to a sudden shift in consumer behavior. Additionally, manufacturers were unable to predict the behavior change, which led them to reduce semiconductor production. As lockdown ended and demand surged, the manufacturers could not meet the demand, and the industry has been trying to match demand ever since.
Global USB Hubs Market: Regional insights
Global USB hubs market is divided into the Asia-Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa, based on regions. North America dominated the global USB hubs market in 2020 due to the IT industry’s growth, increasing automation in industries, and the proliferation of IoT devices in the region. According to the International Trade Administration (ITA), the North American IT industry holds a 40% share in USD 5 trillion worth of the global IT industry. Furthermore, Forbes estimates that smart factories in the U.S. will be worth more than USD 500 billion by 2022, driving demand for USB hubs in the region during the forecast period.
Competitive Landscape
The leading players in the global USB hub market are Vaunix Technology Corp., Texas Instruments, Anker Innovations, Sabrent, Foxconn Interconnect Technology Limited, Toshiba Corporation, Panasonic Corporation, Honeywell International, StarTech, Amazon, Dell, HP, Sony Corporation, Aukey, and other prominent players. Players are focusing on new and effective strategic development to proliferate their market position amidst the existing and upcoming players. Vaunix Technology Corporation, for example, aims to provide quality products, technical assistance, and consultation. This includes discussing problem issues, developing a treatment plan, and providing product information and data for the application.
Recent Developments
In October 2021, Acroname, a Colorado-based Company, launched the world’s first industrial and programmable USB Type-C Hub, Power Delivery Analyzer, and Tester. The device is called the USBHub3c and is designed specifically for mobile device test labs, USB-PD validation testing, USB-C device production testing, and end-of-line battery-charging, for testing dual role data (DRD), and dual-role power (DRP) devices.
In October 2021, Plusnet, an Internet provider and subsidiary of British Telecom, launched ‘Hub Two.’ It is the re-mastered version of BT’s SmartHub 2. ‘Hub Two’ comes with 1 FXS (phone) port, 4 Gigabit Ethernet ports (3 LAN and 1 WAN), integrated ADSL / VDSL and G.fast modems, 1 USB 2.0 port, and reasonably capable Wi-Fi 5.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the global USB Hub market statistics. It also highlights the factors driving forecasts of total market size. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market. The report promises to provide recent technology trends in the global USB Hub market, along with industry insights, to help decision-makers make sound strategic decisions.
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