USB Wall Charger Market Insights, Trends & Future Development Status Recorded during 2018 to 2027
Demand for USB wall chargers is on a persistent rise against the backdrop of short battery lives of the new-age electronic devices
[UKPRwire, Mon Jan 07 2019] Backed by modest sales of over 76 thousand units, the USB wall charger market grew at 5.3% y-o-y in 2018, reveals Fact.MR’s new study. According to Fact.MR’s study, the USB wall charger market is witnessing a shift from USB-A type to USB-C type charger. While a handful of manufacturers have implemented the type C USB functions in their devices, the advantages that this technology offers are yet to be fully recognized.
Amid the consequential uncertainties of an unregulated state of USB C type chargers, recently released specifications for type C connectors by USB-IF are likely to streamline the manufacturing which can further leverage full potential of this new USB interface.
Primarily, an exponential rise in smartphone adoption has fuelled the revenues of USB wall charger market in past decades. USB charging has become an indispensable requirement in commercial, residential as well as public infrastructures.
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To meet the behemoth demand, multiple small and mid-sized players have emerged in the USB wall charger market, representing a highly fragmented landscape. Distinguished product offerings at an affordable cost and with features such as multi-port, higher output and universal application remain the primary focus of these players to maintain a competitive edge in the market.
A senior analyst at Fact.MR said, “Although talking about future of USB wall chargers seems outmoded, as tech-savvy consumers are eyeing on disruptive technologies like fast charging and wireless chargers, technology giants are still engaged in debugging the errors of current launches. As economic development plays a significant role in success of new technologies, with the expanding middle class, USB wall charger market is likely to witness stabilizing adoption in the future.”
Fact.MR studied the adoption of different types of USB wall chargers and their utilization across different applications. The estimations reveal that sales of 1 port USB wall chargers will continue to account for a greater share as compared to other multi-port chargers.
In 2018, nearly 5 in 10 USB wall chargers sold were with 1 UBS port feature. The higher sales are likely to continue as individual smartphone owners prefer 1 port USB wall charger. Low cost is another factor that drives the sales of 1 port USB wall chargers.
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USB wall chargers with 2 ports accounted for over 2 in 10 chargers sold in 2018. As their sales grew at over 6% y-o-y, consumer preference for 2 port USB chargers are projected to rise rapidly in the future. Convenience of charging more than one device can be attributed to the projected rise in the sales of 2 port USB wall charger.
USB Wall Charger Sales Highly Consolidated among Individual Buyers
Fact.MR study estimates that purchase of USB wall chargers remains highly consolidated among individuals. Over 60% of the USB wall chargers were purchased by individuals in 2018.
Sales of these chargers remain comparatively lower in the commercial applications as individuals carry their personal chargers or prefer portable charger devices. However, in a bid to deliver convenience to office workers, adoption of USB wall chargers in commercial applications such as office infrastructures.
Fact.MR finds that North America continues to witness greater sales of USB wall chargers owing to greater penetration of technology and electronic gadgets. Over 4 in 10 USB wall chargers are sold in North America wherein the U.S. accounted for 80% of the North America sales.
The study also finds that APEJ will register a rapid rise in the sales of USB wall chargers wherein Greater China contributes significantly. Sales in other APEJ countries such as South Korea, Australia and New Zealand are rising rapidly on the back of rising sales of smartphones and other electronic gadgets.
The Fact.MR report tracks the USB wall charger market for the period 2018-2027. According to the report, the USB wall charger market is projected to grow at 6.2% CAGR through 2027.
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