Rockville , Oct. 11, 2023 (GLOBE NEWSWIRE) -- As per a new market study published by Fact.MR, a market research and competitive intelligence provider, the global USB Charger Market is estimated to be valued at US$ 28.1 billion in 2023 and is forecasted to expand at a CAGR of 6.6% during the forecast period (2023 to 2033).
Since the early 2000s, there has been a burgeoning demand for portable electronic devices such as mobile phones, laptops, chargers, and tablets. Since the onset of the COVID-19 pandemic, sales of electronic devices have increased rapidly for personal and professional as well as educational purposes. This has created huge demand for USB chargers. Technological advancements in charging devices are anticipated to gain traction over the coming years and keep driving up the demand for USB chargers.
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Key Segments of USB Charger Industry Research Report
| By Charger Type | By Product Type | By Application | By Power |
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Key Takeaways from Market Study
- The global USB charger market reached a valuation of US$ 26.4 billion in 2022, advancing at a CAGR of 2.8% from 2018 to 2022.
- The market is projected to expand at 6.6% CAGR and reach US$ 53.3 billion by 2033-end.
- Prominent market players include AT&T Inc., Eaton Corporation Plc., GP Batteries International Ltd., and Maxell Holdings Ltd.
- Sales of USB type C chargers is estimated to rise at a CAGR of 4.9% through 2033.
- The United States market is estimated to reach a valuation of US$ 31.1 billion by the end of 2033.
“Rising consumer demand for faster, durable, sustainable, and technologically advanced charging devices is driving the growth of the USB charger market,” says a Fact.MR analyst.
Market Growth Stratagems
In the USB charger business, market players are adopting various strategies to strengthen their position and capitalize on emerging opportunities. Some of these strategies include expanding their market share, product diversification, technological advancements, establishing strategic partnerships with other industry stakeholders to access new markets and distribution channels, and focusing on customer engagement.
Companies are also investing in marketing and promotion efforts to raise awareness about the benefits of highly reliable semiconductors and differentiate themselves from competitors. By pursuing these growth strategies, market players aim to foster sustainable growth, gain a competitive edge, and meet the evolving demands of the diving community.
| Report Attribute | Details | |
| Value Projection (2033) | USD 53.3 Billion | |
| Growth Rate (2023-2033) | 6.6% CAGR | |
| No. of pages | 170 Pages | |
| No. of Tables | 256 Tables | |
| No. of Figures | 112 Figures | |
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The USB charger market in the United States is expected to grow at a 3.9% compound annual growth rate (CAGR) from 2023 to 2033. As of 2023, the U.S. commands a 14.2% share of the global market.
In the wake of the COVID-19 pandemic, there has been a rapid surge in mobile phone ownership worldwide, particularly in the United States. This surge can be attributed to various factors, such as the widespread adoption of remote work, the prevalence of online education, the rise of online businesses, and increased digital engagement. Consequently, the demand for laptops, tablets, and mobile phones has escalated, both for professional and educational purposes, driving a significant increase in demand for USB chargers within the country.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the USB charger market, presenting historical market data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals essential insights based on product type (type A, type B, type C), charger type (wall chargers, portable power banks/docking systems/alarm clocks, car chargers), port (one, two, three, four, others), power (up to 30W, 30W to 45W, 45W to 60W, 60W to 75W, above 75W), application (smartphones, tablets, laptops, desktops, others), multi-port (fixed power, fluctuating power), and distribution channel (online, offline), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, and the Middle East & Africa).
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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