The usb cable market was valued at $12.7 billion in 2021, and is estimated to reach $69.9 billion by 2031, growing at a CAGR of 20.2% from 2022 to 2031. The global USB cable market share is expected to witness considerable growth in coming years, owing to increase in number of data centers and rise in demand for USB power delivery ports for automobiles in entertainment and infotainment systems. Further, rise in investment by prime players in emerging economies will propel the market positively during the forecast period.
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Some of the prime drivers of the USB cable industry are surge in demand for consumer electronics, rise in penetration of video in demand, video conferencing, gaming, and home surveillance devices, and increase in number of data centers, which is opportunistic for the market growth. Considering these factors, the USB cable market is estimated to experience rapid growth in the future.
By product type, the USB cable segment held the largest market share in 2021, holding nearly half of the global market. The multifunctional USB cable segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 21.59% during the forecast period.
Based on functionality, the USB 3.x segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The USB 4 segment, on the other hand, is expected to cite the fastest CAGR of 21.49% during the forecast period.
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Based on application, the computer segment held the largest market share in 2021, holding more than one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 23.93% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding nearly one-third of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 21.9% during the forecast period.
The key players analyzed in the global USB cable market report include Bose Corporation, Eaton Corporation plc (Tripp Lite), FIT Hon Teng Limited (Belkin International, Inc.), Future Technology Devices International Ltd. (FTDI), inMusic, LLC (ION Audio), NI (Diligent, Inc.), Nikon Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., and Xilinx Inc.
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