Market Overview
Global USB Charger Market is estimated to reach at a CAGR of 5.9% during the forecast period (2024-2031).
A USB charger is a form of electrical device that is used to charge various consumer electronic gizmos. It produces a 5 volt DC standard output and has an amperage range of 0.7 to 2.4 amps. The charger is typically used with an AC power outlet, with a USB cable connected at one endpoint for energy transfer. The USB chargers can detect when they are linked to an AC unit and attached to a computer system, allowing them to manage the amount of Power they draw.
Market Summary
| Metrics | Details |
| CAGR | 5.9% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Charger Type, By Port, By Power, By Application and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Distribution Channel Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
For More Insights Request Free Sample
Source: DataM Intelligence Analysis (2021)
Market Dynamics
Growing advocacy for electronic gadgets in modernity
The rise in demand for electronic gadgets, especially in the post-COVID-19 era, has been a significant driver for the global USB charging industry. Because of the lockdown, most people have turned to the internet and internet-based businesses to communicate, connect and continue their jobs from home. Compared to pre-lockdown levels, utilization of internet services has increased from 40% to 100%. Zoom, a video conferencing service, has seen a tenfold rise in usage, while Akamai, a content delivery provider, has seen a 30% increase in content utilization. As electronic devices such as smartphones, tablets, laptops, among others, are a medium to communicate with these digital services, the advocacy for these devices grew exponentially.
Since USB chargers offer advantages such as building a single power source to deliver electricity to numerous gadgets like smartphones, tablets, wearables and even specific laptop models and the portability of USB chargers as an ideal energy backup, the integration of USB into electronic devices is snowballing. As a result, the growing adoption of electronic apparatus integrated with USB charging ports could be considered a significant driver for the global USB charger market.
The presence of cheap products dulls the market growth.
Though cheap USB chargers seem to be economical, the respective product is associated with several disadvantages such as chances of fire and electricution of the user apart from the damages inflicted to the electronic device. As per data in accordance to a PCWorld study, Japan's Consumer Affairs Agency recorded nearly 100 incidences of smoke, fire, or overheating caused by smartphone chargers and cords in 2014.
After utilizing a Topland phone charging unit purchased at a convenience store, a person was slightly injured in a fire. In July of that year, a fire hazard recall covering 224,000 other charges was issued. Lithium-ion batteries were used in the chargers, linked to overheating and fires of cheap USB cables. Further, a Sydney woman died of suspected electrocution after using an unbranded USB phone charger purchased from a stand in the Campsie neighborhood.
As a result of these hidden dangers associated with cheap USB chargers, the availability of affordable USB charging products that lack quality could constrict the market growth of the respective market and be considered a primary market restraint.
COVID-19 Impact Analysis
COVID-19 has significantly impacted all corporate activities worldwide, mainly due to supply chain disruptions. As a result, the entire global economy is devastated. The electronics industry and the USB charger market have also had a considerable impact due to the protracted lockdown and stoppage of operations.
However, the USB charger market is expected to witness a market boom in the post-COVID-19 market scenario primarily due to two significant factors:
- Firstly, the large-scale integration of work, studies and e-commerce into the life of a layman during the pandemic.
- Lastly, the European union's proposal to mandate USB-C-based chargers in all devices, including iPhones, gaming consoles, laptops, among others, is an attempt to reduce e-waste.
Additionally, consumer electronics consumption has increased due to technological developments, fueling the expansion of the USB charging industry. Market participants are attempting to recoup losses incurred due to the COVID-19 epidemic by launching novel items to meet the growing demand for electronic devices, thereby raising the market value of USB chargers. Further, manufacturers have reopened their manufacturing facilities and supply chains to keep the economies operating, thereby providing scope for the global USB charger market to grow and prosper in the future.
Market Segment Analysis
The global USB Charger is segmented based on product, charger type, Port, application, Power, distribution channel and region.
The global penetration of smartphones helps the segment to do
The global USB charger market is segmented into smartphones, tablets, laptops, desktops, and others based on application.
Smartphones dominate the application segment fueled by an increase in the global penetration of smartphone users. As per data, 65% of the world's population owned a smartphone in 2019, and by 2022, that percentage is predicted to climb to 75%. According to the Mobile Economy Survey, around 49% of the population utilized their mobile phones to access the internet. The growing use of the internet on smartphones assists in the market's growth.
The smartphone segment is closely followed by the laptop segment, which is predicted to increase during the forecast period. Laptops are getting increasingly popular due to the ease of transit along with the explosive computational Power they offer. Additionally, the long battery life, wireless connectivity and mobile phone integration also help laptops gain prevalence. As the popularity of smartphones and notebooks escalates in modernity, the demand for chargers that offer proper voltage integration and enhanced charging speed would gain a majority. As USB chargers top the available charging options, the market for USB chargers in these segments rises rapidly, thereby assisting these segments in dominating the global USB chargers market.
Source: DataM Intelligence Analysis (2021)
Market Geographical Share
Asia-Pacific holds the largest market share global USB Charger market.
The market for USB chargers in Asia-Pacific is the largest globally. Population explosion, increasing demand for smartphones, rapid acceptance of new inventions and consumer electronics contribute to Asia-Pacific's global market growth. As per the latest data, around 2.8 million people from Asia-Pacific, which accounts for 66% of the worldwide population, purchased new mobile devices in 2019.
The latest stats reveal that the number of global consumers of smartphones went upscale by 500 million compared to the values from 2014. In Asian countries like India and China, the market is quickly expanding due to the growth and advancement in the electronics sector, and digitization is the leading market share driver that promotes the experienced growth in these countries.
The demand for USB chargers in the Asia-Pacific is further amplified due to the increasing use of online distribution channels and eCommerce platforms. As a result, the manufacturers in the Asia-Pacific USB charger market have the opportunity to keep ahead of the competition and generate lucrative revenue streams.
Source: DataM Intelligence Analysis (2021)
Companies and Competitive Landscape
The USB Charger market is moderately competitive with the presence of local and global companies. Some of the key players contributing to the market's growth include Anker Technology Co. Limited, AT&T Inc., AUKEY, Bello Digital, EasyAcc.com, Inc., Eaton Corporation Plc., E-Filliate, GP Batteries Global Ltd., Insignia, MyCharge, among others. The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the USB Charger Market globally.
Anker Technology Co. Limited:
Overview: Anker Technology Co. Limited focuses on the manufacture of charging technology and devices such as wireless charging, portable chargers, wall chargers, car chargers, among others. The company also exert their expertise in the intelligent entertainment market through its brands soundcore, eufy and nebula. The company was founded in 2011 and is headquartered in Changsha, Hunan, China.
Product Portfolio: The company has a product portfolio of electrical coating insulation that includes:
HORIZONTAL FLOWPAK
- Anker Nano Pro (40W): The product is a 40W PIQ 3.0 Dual Port USB C Compact Fast Charger primarily used in cases of iPhone ranging iPhone 13. The product offers technological features such as an ActiveShield safety system and Dynamic Temperature Sensor, which provide enhanced protection and temperature regulation, respectively. The outcome could simultaneously charge two devices at 20W charging speed and is available in four colors.
Key Development: On May 8, 2019, Anker Technology Co. Limited revealed the next version of PowerIQ fast-charging chips, PowerIQ 3.0. These new processors enable Qualcomm Quick Charge 3.0 and Power Delivery up to 100W on Anker's USB-C chargers and portable batteries, allowing them to charge practically any USB-C device at the fastest possible pace.
Why Purchase the Report?
- Visualize the composition of the USB Charger market segmentation product, charger type, Port, application, Power, distribution channel and region, highlighting the key commercial assets and players.
- Identify commercial opportunities in the USB Charger market by analyzing trends and co-development deals.
- Excel data sheet with thousands of USB Charger market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global USB Charger market report would provide access to an approx. 61 market data table, 90 figures and 180 pages.
Target Audience 2024
- USB Charger Service manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
