Transparency Market Research, in its new research study, lays bare persuasive intelligence and insights into the evolving landscape of the USB charger market for readers to develop a deeper understanding of the market behavior in 2019 and beyond.
USB Chargers - Decoding the Evolution & Future Growth
USB chargers have experienced a prolonged and winding road of evolution and adoption. Revenue from the USB charger market closed in on a valuation of over US$ 29 Bn in 2018. A dramatic rise in the demand for fast-charging solutions is poised to get even more intense in the USB charger market in due course, which will act as a harbinger signaling the influx of new product innovations and developments.
Disruptive Trends Shaping the Future of USB Charger Adoption
The USB type C charger is emerging as a golden standard for quick charging and the simultaneous transfer of video and data. With USB type C interfaces making their way into multiple gadgets, including smartphones, laptops, automobiles, and others, manufacturers are endeavoring to launch new USB type C charger models with advanced functionalities. Also, the USB charger market is seeing a transition to multi-port variants, for the added convenience of charging multiple devices at one go.
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Manufacturers’ Winning Strategies to Unlock Profits
In a bid to effectively respond to the ever-evolving market dynamics, companies in the USB charger market are focusing on realigning their strategies. Manufacturers are focusing on making their innovation processes highly agile, which will also help them gain a wide range of perspectives to enrich their 'innovation gene pool'. For instance, Chinese smartphone giant Meizu claims that, its 'Super mCharge' technology, which was officially launched in 2018, can seamlessly recharge batteries in as little as 20 minutes.
Analyzing the demand for fast charging speeds and high charging efficiency, manufacturers are launching their own type C charger models with advanced features. For instance, Huntkey, a leading power solution provider, is developing a new model of portable 90W type C for overseas markets. Apart from superlative charging efficiency and best-in-class quality, the portable design is a key USP of this new product launch by Huntkey. In addition, manufacturers are also working on offering space-efficient and heat-resistant designs of USB chargers, with the sole objective of scaling up their product positioning. Companies in the USB charger market are also investing in supplier-retailer relationships that go beyond ‘day-to-day’ business transactions, and promise long-term profitability for both the parties.
