ALBANY, New York, Feb. 28, 2018 (GLOBE NEWSWIRE) -- The presence of a massive pool of participants points towards a significantly competitive and fragmented vendor landscape in the global USB chargers market, states a new research report by Transparency Market Research (TMR). Customer satisfaction has been on the top priority of vendors for which, they have been encouraged to create and offer custom products. They are focusing on manufacturing products which has fast charging facility, with the application of innovative technology such as USB charging facility with alarm clock or portable speaker.
The leading players are likely to battle it off with technological advancements in this market over the next few years. AT&T Inc., Baccus Global LLC, Bello Digital, Cyber Power Systems Inc., DB Power Ltd., and Eaton Corp. Plc. are some of the leading players in this market, reviewed in this research report.
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As per the study, the opportunity in the global market for USB chargers is expected to rise at a CAGR 5.80% over the period from 2017 to 2025 and attain a value of US$37.89 bn by the end of the period of the forecast. Type C chargers have been enjoying a higher demand than other products in this market and are expected to continue doing so over the next few years. In terms of the geography, Asia Pacific has been dominating the global market and is expected to maintain its dominance throughout the period of the forecast, states the market study.
Rising Demand for Enhanced Functionality in Smartphones to Support Market’s Growth
“Over the recent past, the global USB charger market has witnessed massive expansions in its size compared to earlier, thanks to the soaring development, widening application base, and the increase in the manufacturing of custom products,” says the author of this study. Another factor that has been supporting the growth of this market is the increasing demand for USB chargers in the commercial and the residential sectors.
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Over the coming years, the rising demand for enhanced functionality in smartphones, which requires high battery power to support the features and applications, is likely to expedite the uptake of USB chargers from various industries across the world, reports the research study.
Availability of Fake Products to Hamper Market
Overall, the growth trajectory of the global USB charger market looks smooth. However, the easy availability of counterfeit and fake products may limit the uptake of USB chargers to some extent in the near future. Nonetheless, the introduction of novel features, such as fast charging, USB 3.2, and USB Type-C connectivity are predicted to drive the growth of the market over the next few years, considerably, notes the research report.
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The review is based on a report by Transparency Market Research (TMR), titled “USB Charger Market (Product Type - USB Type A, USB Type B, and USB Type C; Charger Type - Wall Chargers, Portable Power Bank/Docking System/Alarm Clock, and Car Charger; Port - One, Two, Three, and Four; Distribution Channel - Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.”
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