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Cables & Chargers Market Size – $33.94 billion in 2021, Market growth – at a CAGR of 9.2%, Rising trends in fast and ultra-fast charging capabilities
NEW YORK, NY, UNITED STATES, Sept. 20, 2022 /EINPresswire.com/ — Increasing demand for smartphones and electronic devices is driving the revenue growth of the market
The Cables & Chargers market size was US$33.94 billion in 2021 and is expected to register a CAGR of 9.2% in sales during the forecast period, according to a recent report by Reports and Data. The increasing demand for smartphones and electronic devices for fast and ultra-fast charging is driving the demand for cables and chargers. Fast and ultra-fast charging has become a key feature of smartphones, and major consumer electronics brands are launching their new devices with higher battery capacity in milliampere hours (mAh). Therefore, significant demand is expected to accelerate the revenue growth of the market beyond the forecast period.
In addition, increasing demand for Android, iOS devices and smart home accessories contributes to the revenue growth of the cables and chargers market. According to the International Telecommunication Union (ITU), there will be 8.27 billion mobile phone subscriptions worldwide in 2020. Leaders of designers and manufacturers of chargers and cable products such as Qualcomm, Anker, Xiaomi, NuPower and several other brands develop cables and chargers exclusively for fast and ultra-fast charging capabilities, enabling charging speeds from 0-50% in five minutes. These innovations are driving the revenue growth of the market.
The companies featured in the market report are Apple Inc., Samsung Electronics Co., Ltd., Xiaomi Corporation, Sony Corporation, OnePlus, Fantasia Trading LLC (Anker), Shenzhen Xincheng Technology Co., Ltd., Fuyuan Electronic Co., Ltd. , Shenzhen Quawin TEC Technology Co.,Ltd. and Guangzhou Xinhaotian Technology Company
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Some key highlights from the report
• The USB Type A segment accounted for the largest share of sales in 2021. USB Type A is widely purchased by consumers and most modern computers, laptops, game consoles such as PlayStation, Xbox, Nintendo Switch, smart TVs, streaming media players, etc. and other devices support USB Type A connector. Therefore, high adoption is driving segment revenue growth. USB Type B is commonly used in peripherals such as printers, upstream ports on hubs, or other larger peripherals. On the other hand, the USB Type-C segment is a latest iteration of the USB connector and is a promising segment to generate significant demand. Most smartphones and Windows devices are launching USB Type-C chargers. These types of chargers provide efficient power delivery and high-speed data transfer with a diverse ability to connect a variety of devices. In addition, the Lightning connector is a popular segment for connecting iOS-enabled devices such as iPhone, iPad, MacBook and iMac devices.
• The 30W and under segment accounted for a larger share of sales in 2021. Chargers of 30W and below are in the standard category as most smartphones and smart devices are compatible with chargers of 30W and below. The standard 30W charger is an ideal power output for charging rechargeable Lithium Ion (Li-Ion) batteries. The power segment from 30W to 75W is a promising segment to boost the revenue growth of the market. Several smartphones are coming out with a higher battery capacity in milliampere hours (mAh), so a large amount of chargers with an output power of 30W to 75W are required to meet the market demand. Dual charge technology is supported with 30W – 75W output power and fast charge allows charging speeds up to 0-50 in five minutes, with 70% more efficient than traditional solutions. The 75W output power is highly functional in applications such as travel solutions, docking stations and various other high-end applications.
• The wall charger segment accounted for the largest share of sales in 2021. The wall charger is an ideal solution for charging multiple devices with universal compatibility. These wall chargers are quickly used in homes, hotels, waiting rooms, airports, coffee shops and many other personal and business applications. In addition, the car charger segment is growing steadily and is widely used to charge smartphones and connect in-vehicle infotainment systems such as Apple CarPlay and Android Auto. Car charger connectors are universal and allow multiple devices to be paired with USB-A cables. All of these factors contribute to the segment’s revenue growth.
• North America accounted for the largest share of sales in 2021. The digital population in the US has grown over two decades. According to the World Bank, over 92% of North Americans had internet access in 2020. Access to the Internet has increased demand for consumer electronic devices such as smartphones, laptops, tablets, game consoles, e-book readers and many other products, which in turn drives demand for cables and chargers in the region. According to research, around 82.2% of the population in the US uses smartphones. Smart home accessories are exceptionally well-received by North American consumers, which is expected to fuel the revenue growth of the cables and chargers market. Additionally, significant developments in the region are helping to create multiple opportunities. For example, the US Department of Commerce announced it would introduce a legislative initiative to include a mandatory Type-C phone charger in all devices for the benefit of consumers and the environment. In addition, manufacturers of cables and chargers are presenting new versatile product innovations at events such as the Consumer Technology Association’s Consumer Electronics Show (CES), which is expected to further support the sales growth of the market in the region.
• On January 4, 2022, Anker, one of the leading manufacturers of cables and chargers, launched the 100W Anker 736 charger. The company has improved the design of the model and an improved circuit board for maximum efficiency. This new product is powered by the world’s smallest 100 watt wall charger. It is also equipped with the latest Anker PowerIQ 3.0 technology for optimized charging. The company has claimed that the product will not compromise on charging performance and the new technology will deliver twice the operating frequency with an updated stack design.
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For the purposes of this report, Reports and Data has segmented the Cables and Chargers market by USB Type, Power Output, Charger Type, Application and Region:
USB Type Outlook (Revenue, USD bn; 2019-2030)
USB Type A
USB Type B
USB Type C
Lightning connector
Other
Performance Outlook (Revenue, $Bn; 2019-2030)
30W and below
30W – 75W
75W and more
Charger Type Outlook (Revenue, USD bn; 2019-2030)
wall charger
car charger
Other
Bid Outlook (Revenue, $Bn; 2019-2030)
smartphone
tablet
Laptop
writing desk
Other
Regional Outlook (Revenue, $Bn; 2019-2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Key Benefits of Cables and Chargers Market Report:
• Identification and analysis of market size and competition
• Qualitative and quantitative analysis of market data
• Data validated by industry experts after extensive primary and secondary research
• Comprehensive regional analysis of the cable and charger industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships and product portfolio
• SWOT and Porter Five Forces Analysis for an in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, limitations, challenges, risks and limitations
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