USB Devices Market Trends, Analysis

1. USB Devices Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2021-2027

2. USB Devices Market- Industry Trends & Forecast Report 2027 A recent study, conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that the global USB devices market was worth USD 19,255 million in the year 2020. The data generated by the study reveals that the market is estimated to grow at a CAGR of 14%, earning revenue of around USD 48,053 million by the end of 2027. Global USB devices market is growing at a high CAGR due to the surge in data traffic and the need for compact and efficient storage devices. Also contributing to the market growth are technological advancements and compact USB devices with higher memory capacities. With the growing popularity of smartphones, and the expansion and adoption of IoT and AI applications, comes a huge amount of data that requires secure storage.

3. Growth Drivers  Growing Demand for USB Devices in The Healthcare Industry Increased adoption of USB in the healthcare industry is emerging as a major driving factor for the global USB devices market. Consumers can use USBs for their health and wellness. For instance, consumers can use a USB device, such as an exercise watch or a heart rate monitor, to connect with electronic devices, such as PCs or smartphones. Additionally, these devices can be used for transferring and downloading patient data, which can then be immediately delivered for review and assessment, boosting productivity and decreasing cost. Such applications are likely to drive the growth of the global USB devices market.

4. Restraints  Declining Shipments for PCs and Laptops PCs and laptops are the most common devices that use a USB. However, it is estimated that the decline in demand for these electronics products in the forecast period will pose a major threat to the growth of the global USB devices market. As a result of smartphones' competitive prices and their ability to perform a wide variety of tasks, smartphones and tablets have created stiff competition for laptops and PCs that could threaten the USB devices market.

5. Impact of COVID-19 After the sudden outbreak of the COVID-19 pandemic and the lockdown protocols that followed, life and working conditions were completely altered. Due to online schooling and remote working in organizations, the volume of data increased at a high rate, propelling the demand for USB devices. However, the manufacturing operations and the distribution channels for non-essential commodities such as USB devices were completely shut down, which created a huge demand and supply gap in the market, incurring severe losses to the market. Furthermore, due to a shortage of chips used in USB production, the market is expected to recover in the post-COVID-19 period at an extremely slow pace.

6. Global USB Devices Market - Regional Insights Geographically, the global USB devices market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the global USB devices market because of the presence of a large number of consumer goods and manufacturing companies. Furthermore, intensive investment towards technological advancements and research & development by industry players also play a crucial factor in driving the market growth in this region. On the other hand, the Asia-Pacific region is estimated to witness the highest CAGR during the forecast period because of the expanding electronic manufacturing industry in the APAC countries.

7. Competitive Landscape The leading players in the global USB devices market are Corsair Memory, Inc, ADATA Technology Co. Ltd, Hewlett Packard Company, Western Digital Corporation (SanDisk), Kingston Technology Corporation, Toshiba Corporation, Samsung Corporation, Micron Technology, Inc, Verbatim Americas LLC, Imation Corporation, Transcend Information, Inc, Teclast Electronics Co., Ltd., Netac Technology Co Ltd, Intel Corporation, Koninklijke Philips N.V., and other prominent players. Sample Copy:https://www.blueweaveconsulting.com/report/usb-devices-market/report-sample

8. Recent Developments In October 2021,Inseego Corp., a US-based 5G and IoT device solutions provider, announced the availability of the USB8L 4G Global modem for small businesses, enterprises, and government. In August 2021, IGEL Technology, a German software company, announced the launch of the UD Pocket2, a portable USB device with a USB-A and a USB-C connector.

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