New York, US, Jan. 03, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automotive USB Power Delivery Market: Information By Type, By Application, By Distribution Channel, and by Region—Market Forecast till 2030, the global market for automotive USB power delivery is anticipated to attain a considerably larger size by the end of 2030. The reports further anticipate the market to thrive considerably during the evaluation period from 2022 to 2030 at a healthy growth rate of approximately 18.30%.
Automotive USB Power Delivery Market Overview:
The global automotive USB power delivery market has demonstrated tremendous development in recent years. The development of the market is ascribed to the aspects such as increased consumer preference for genuine, high-quality electronic components, increased use of USB systems in head units, increased vehicle production, modernizing production methods, and expanding research and development activities.
Automotive USB Power Delivery Market Competitive Analysis
The catalog for the leading participants across the global market for automotive USB power delivery includes players such as:
- Cypress Semiconductor Corporation (US)
- Texas Instruments Incorporated (US)
- Infineon Technologies AG (Germany)
- ON Semiconductor (US)
- Lattice Semiconductor (US)
- ROHM Semiconductor (Japan)
- NXP Semiconductors (Netherlands)
- STMicroelectronics (Switzerland)
- Renesas Electronics Corporation (Japan)
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Automotive USB Power Delivery Market Report Scope:
| Report Metric | Details |
| Growth Rate | CAGR of 18.30% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The commercial vehicle market is undergoing a rapid technological transformation |
| Key Market Drivers | Increasing use of technological features in cars |
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Market USP Covered
Market Drivers
The global automotive USB power delivery market has demonstrated tremendous development in recent years. The development of the market is ascribed to the aspects such as increased consumer preference for genuine, high-quality electronic components, increased use of USB systems in head units, increased vehicle production, modernizing production methods, and expanding research and development activities.
Market Restraints
On the other hand, the challenges with heat dissipation and the restricted USB Type-C use may restrict the market's growth.
COVID-19 Impact
The global automotive USB power delivery market has witnessed several major setbacks during the pandemic. The major fall in demand for automobiles globally caused a major loss of revenue for the automotive USB power delivery market. On the other hand, with global activities returning to normal, the market is predicted to witness considerable development over the evaluation period.
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Segment Analysis
Among all the types, the type-C segment is predicted to ensure the top spot across the global automotive USB power delivery market over the evaluation era. USB type-C interfaces dominated the global automotive USB power delivery market in 2019. It is anticipated to dominate the global market in revenue terms as they allow secure and fast data sharing with a USB type-C connector.
Among all the capacity ranges, the 8,001 mAh-20,000 mAh segment is anticipated to hold the top spot across the global automotive USB power delivery market over the coming years. the primary aspect causing a rise in the market's performance is the extensive digitization. Constant utilization of the internet and insufficient battery capacity of smartphones are also believed to boost the demand for these power delivery systems. Furthermore, the growing penetration of smartphones has caused a rise in data consumption. In addition, the ability of these delivery systems is also anticipated to enhance the market revenue share over the assessment era.
Among all the battery types, the lithium-ion segment is predicted to secure the largest market revenues across the global automotive USB power delivery market over the assessment era. Li-ion batteries provide several benefits, such as low maintenance, high energy density, and lower self-discharge. On the contrary, lithium-ion batteries are highly priced to generate, given the complex preparation processes and high material costs. However, the Li-polymer battery segment will likely record the maximum growth rate over the coming years. Li-polymer batteries are moldable, lightweight, and flat in shape, allowing the production of sleek and compact power banks. The batteries are also progressively chosen as they are considered secure compared to other batteries.
Among all the energy sources, the electric segment is anticipated to hold the top spot across the global automotive USB power delivery market over the evaluation era. They provide advantages such as compactness, lightweight, low cost, and easy availability. On the other hand, the solar segment is predicted to exhibit the maximum CAGR over the assessment period. The global demand for solar power banks is likely to be the main aspect supporting the segment's growth.
Among all the distribution channels, the e-commerce segment is predicted to secure the top spot across the global automotive USB power delivery market over the evaluation era. The growing internet penetration across the globe is believed to be the main aspect boosting the segment's performance. In addition., the segment is likely to show the maximum growth rate over the coming years. the rising urbanization across the developing economies is the primary factor boosting the development of the segment.
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Regional Analysis
The global automotive USB power delivery market is analyzed across five major geographies: Asia-Pacific, Latin America, North America, the Middle East & Africa, and Europe.
The research reports by MRFR suggest that the Asia-Pacific region is predicted to ensure the top spot across the global market for automotive USB power delivery over the coming years. the main aspect supporting the development of the regional market is the rise in demand for and production of electric vehicles and passenger cars across the region. The research reports further state that the increasing use of sophisticated cockpit electronic systems in automobiles across the region and the rising consumer awareness of safety features in developing nations are also predicted to influence the regional market's development positively. Moreover, aspects such as the growing use of cutting-edge electronics and high vehicle production are also likely to enhance the development of the regional market over eth review era.
The European regional market for automotive USB power delivery is anticipated to show the maximum growth rate over the coming years. the growing presence of significant semiconductor producers across the region is believed to be the primary aspect causing an upsurge in the regional market's performance. The regional market's development is ascribed to the nation's rising utilization of augmented and virtual reality technologies is also anticipated to catalyze the growth of the regional market over the coming years. in addition, the strict government regulations and standards implemented by the government across the region are also likely to have a positive impact on the development of the regional market.
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