Published on: May 2022
An essential - Uncovering the market secrets of USB Type-C industry
The universal serial bus (USB) has evolved over time, and USB type C is the fifth version of the technology, which has become a popular choice for not only charging but also data transfer applications. The technology works with a variety of devices, including tablets, smartphones, and PCs, and it is expected to gradually replace traditional USB connectors in the coming years. According to a recent analysis issued by Industry Data Analytics, the USB Type C market is predicted to surpass US$ 127 billion by 2030, growing at a 29 percent compound annual growth rate, with applications in the telecommunications industry taking a significant portion of the market. In recent years, the market for USB type C technology has exploded as a number of companies in the electronics, automotive, and telecommunications industries have adopted these connectors, which outperform other USB competitors and even other charging devices compatible with Apple products.
Demand is driven by faster data transfer capabilities
Most phones, laptops, and tablets now use USB C as a standard connection. A USB C port has even been designed into some Macbook models. The 2nd Generation USB 3.1 data transmission standard is now used in the majority of USB C connections. As a result, new USB C devices may theoretically deliver up to 10 Gbps of data, which is twice as fast as earlier USB 3.0 and first-generation USB 3.1 alternatives. In addition, USB Type C requirements are increasingly being employed to ensure compatibility with technologies such as Intel's Thunderbolt 3, which can triple data transmission speeds. Through ethernet capabilities and applications in high definition video streaming becoming mainstream with HDMI and DisplayPort standards, among others, such advancements in data transfer speeds have become increasingly crucial.
Applications in the Automotive Industry that are Profitable
Major Obstacles
Regional Analysis
Market for USB Type C in North America
Furthermore, regional market participants are progressively pushing for production in Asian countries such as China and India, which would gradually reduce market growth in the next few years.
Key players are:
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