According to a new market research report published by Acute Market Reports “the overall USB type C market worldwide was valued at US$ 380.0 Mn in 2018 and is set to grow with a double digit CAGR during the forecast period.”
A growing number of new players entering the USB type-C market, where global tech giants have already consolidated their position, is making the USB type-C market a highly competitive market. Thus, the main focus of leading players on the USB type-C market is to improve the flexibility and operability of their products in order to maintain a competitive edge on the USB type-C market. For a majority of stakeholders in the UST type-C market, differentiating their product portfolio with innovative features remains a primary focus.
In April 2018, TE Connectivity (TE), a leader in connectivity and sensors and a leading technology company on the USB type-C market, announced the launch of its new waterproof on-board USB Type-C receptacle connector that can be used for smartphones, wearables, medical devices, appliances and automotive infotainment. With the launch of the new waterproof on-board USB type-C receptacle connector, it aims to introduce a next-generation solution for current and future USB applications.
Belkin International, Inc., an American consumer electronics manufacturer and leading player on the USB Type-C market, announced in October 2018 that it has launched a USB Type-C to HDMI Adapter that is compatible with USB Type-C video-enabled devices and can deliver a wider range of rich colors and higher brightness and contrast.
Another U.S.-based supplier of semiconductors–ON Semiconductor announced the launch of a USB Type-C analog audio switch that supports an audio-sense path and enables the USB Type-C port to become a single passage for analog audio signals and USB2.0 signals with integrated protection.
Some of the major companies profiled in the report include
- TE Connectivity Ltd.,
- ON Semiconductor Corporation,
- Belkin International, Inc.,
- STMicroelectronics NV,
- Diodes, Inc.,
- Texas Instruments, Inc.,
- NXP Semiconductors N.V.,
- Analog Devices, Inc.,
- Infineon Technologies AG
- Microchip Technology, Inc.
As the consumer electronics industry rapidly moves towards device miniaturization and high performance, USB type C connectors are expected to gain high momentum in years to come. These are easy-to-use reversible connectors that enable the users to connect their devices without bothering about orientation (unlike conventional USB connectors). USB-C is a truly universal standard and can be used across range of devices irrespective of their operating system. So far, USB-C have found its application across automotive, consumer electronics, IT equipment, medical devices and various other sectors, making it more versatile and promising as compared to the conventional USB types.
The USB type C market growth is highly governed by their exceptional performance capabilities as compared to conventional USB standards. USB-C can achieve data transfer speeds of more than 10 Gbps. The connector supports various different protocols. Through use of adapters, USB-C is backward compatible with HDMI, DisplayPort, VGA and other connections from the single USB-C port. Moreover, these connectors are designed to power even larger devices such as printers, high-resolution monitors and various others. These connectors can provide faster charging and can deliver ultra HD (UHD) to HDMI displays. As a result, USB-C is expected to rapidly replace the existing USB types in the years to come.
Based on applications, smartphones & tablets segment form the largest consumer of USB-C connectors. Smartphones are the earliest adopters of USB-C due to high emphasis on developing slimmer phones. Using USB-C helps eliminating the traditional 3.5mm audio jack enabling the manufacturers to further reduce the thickness of smartphones. Due to consistently growing smartphones market worldwide, the segment would retain its dominant position in the market throughout the forecast period.
Based on the geography, Asia Pacific governs the overall USB type C market worldwide contributing to over 40% of the global market size. China is the largest market worldwide (in terms of production and consumption) for smartphones, tablets and laptop PCs. Moreover, the country is home to some of the leading smartphone brands that have already embraced to USB-C standard. As a result, the region would continue leading the market throughout the forecast period.