The business landscape of the global USB chargers market
is highly competitive and extremely fragmented, owing to the presence
of a large pool of market participants, states a new research report by
Transparency Market Research (TMR). With customer satisfaction being the
top priority of vendors, they are highly encouraged to create and offer
custom products. Currently, they are focusing aggressively on
manufacturing products equipped with swift charging systems, using
innovative technologies, such as USB charging facility with portable
speakers or alarm clocks.
AT&T Inc., DB Power Ltd., Bello
Digital, Baccus Global LLC, Cyber Power Systems Inc., and Eaton Corp.
Plc. are some of the key players operating in this market, which have
been reviewed in this research report. These players are likely to
compete in this market on the grounds of technological advancements over
the next few years, reports the market study.
According to the research report, the
global market for USB chargers is estimated to expand at a CAGR of 5.80%
during the period from 2017 to 2025 and gain a value of US$37.8 bn by
the end of the forecast period. The demand for Type C chargers has been
higher than other products in this market and the trend is expected to
continue over the next few years. In terms of the regional presence of
this market, Asia Pacific has been the dominant regional market for USB
chargers and is anticipated to remain so throughout the period of the
forecast, states the research study.
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Widening Application Base to Support Market’s Growth
“The global market for USB chargers has
been experiencing a significant rise in its valuation, thanks to the
continual development, expanding application base, and the augment in
the production of custom goods,” says a research analyst at TMR. The
fueling demand for USB chargers from the commercial and the residential
sectors has also been propelling this market tremendously across the
world.
Going forward, the increasing demand for
advance functions in smartphones, which needs extended battery life to
support the features and applications, is projected to speed up the
adoption of USB chargers in a number of industries, worldwide, reports
the research study.
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