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The USB devices market share is expected to increase by USD 18.05 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.64%.
This USB devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers USB devices market segmentation by type (USB 2.0, USB 3.0, and USB 4.0) and geography (APAC, North America, Europe, South America, and MEA). The USB devices market report also offers information on several market vendors, including ADATA Technology Co. Ltd., Corsair Gaming Inc., Dell Technologies Inc., Intel Corp., Kingston Technology Co. Inc., Netac Technology Co. Ltd, Teclast Electronics Co., Ltd., Toshiba Corp., Transcend Information Inc., and Western Digital Corp. among others.
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The high demand for compact storage devices is notably driving the USB devices market growth, although factors such as emergence of cloud storage services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the USB devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key USB Devices Market Driver
One of the key factors driving growth in the USB devices market is the high demand for compact storage devices. The market is witnessing a rising demand for storage devices with high capacity within small sizes as the need for data storage is a rising issue for noncommercial consumers and organizations. In addition, USB devices are reliable as they have a shock absorb rating of 200Gs and can retain data for long periods and be reprogrammed numerous times. This is increasing the demand for USB devices. USB devices are predominantly used for additional storage in handheld devices like feature phones, smartphones, tablets, cameras, and camcorders. As these devices are getting sleek and stylish, they require tiny components with high capacity. Thus, USB devices serve the purpose of high storage capacity and compact size, which will further drive the growth of the market.
Key USB Devices Market Trend
The increasing need of high capacity solution is another factor supporting the USB devices market share growth. With the increased Internet penetration across the world, the number of connected things is expected to be tripled by 2025. This will increase the amount of data transactions, ultimately fueling the need for storage devices with high capacity. USB devices manufacturers are developing models with high storage capacities and at par with HDD and USB flash drives. Vendors are providing USB devices with high storage capacity as young customers prefer such USB devices due to the rising popularity of social networking applications, such as WhatsApp, Instagram, and Facebook, which consume a large space. Thus, the increasing need for high capacity solution will further drive the growth of the market.
Key USB Devices Market Challenge
The emergence of cloud storage services will be a major challenge for the USB devices market during the forecast period. Consumers are increasingly choosing the cloud for their storage needs as it allows for the storage of large data sets of any type. Cloud storage offers more benefits than USB devices, such as the ability to retrieve data from virtually anywhere, collaborate more effectively by accessing the same data and tools, and disaster recovery and backup strategies, which may restrict the growth of the market on a large scale during the forecast period. Cloud storage service providers such as Dropbox, Yandex Disk, Media Fire, and Mega now provide clients with free cloud storage, reducing the need for USB devices. Thus, the emergence of cloud storage services will drive the growth of the market.
This USB devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the gloabl USB devices market as a part of the global IT spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the USB devices market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the USB devices market encompasses successful business strategies deployed by the key vendors. The USB devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
ADATA Technology Co. Ltd. - The company offers a wide range of USB devices such as UV240P flash drive, HD770G hard drive, USB cables among others.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The USB devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the USB devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the IT spending market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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40% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for USB devices in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The demand for more storage space will facilitate the USB devices market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, owing to the COVID-19 outbreak, China imposed social distancing rules and strict lockdowns, which halted the production of various electronics components and peripherals for several months. This affected the country's economy. Moreover, in 2020, China stopped importing and exporting critical raw materials used to produce USB devices, which negatively impacted the supply chain of the electronics and semiconductor industry. Likewise, India also enforced a nationwide lockdown to reduce the number of COVID-19 cases. Hence, disruptions in the production of electronics and semiconductor components and products across China and India affected the growth of the USB devices market in APAC in 2020. However, a significant rise in business operations in electronics and semiconductor companies involved in producing USB devices since the third quarter of 2020 is expected to drive the growth of the market in the region during the forecast period.
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The USB devices market share growth by the USB 2.0 segment will be significant during the forecast period. Devices that adhere to the USB 2.0 standard have the ability to transmit data at a maximum speed of 480 Mbps. This is faster than the older USB 1.1 standard but slower than the newer USB 3.0 standard. Some features of the USB 2.0 are better performance and backward compatibility. Such features of USB 2.0 will further enhance the growth of the segment of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the USB devices market size and actionable market insights on post COVID-19 impact on each segment.
USB Devices Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.64% |
Market growth 2022-2026 |
$ 18.05 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.29 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 40% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ADATA Technology Co. Ltd., Corsair Gaming Inc., Dell Technologies Inc., Intel Corp., Kingston Technology Co. Inc., Netac Technology Co. Ltd, Teclast Electronics Co., Ltd., Toshiba Corp., Transcend Information Inc., and Western Digital Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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