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As of 2023, the market for USB wall chargers was valued at US$ 1.68 billion worldwide. By the end of 2033, the global USB wall chargers market is expected to be valued US$ 3.09 billion, growing at a compound annual growth rate of 6.3%.
The rapid spread of the Internet throughout different locations is credited with creating growth potential in the global industry. It is also anticipated that the significant power consumption of a number of electronic devices will increase demand for USB wall chargers.
It is anticipated that the market for USB wall chargers would grow as there is an increasing need for laptops, cellphones, and other electronic devices. Furthermore, in the previous two to five years, USB wall charger cameras have gained popularity. In the upcoming ten years, it is anticipated that rising consumer spending on a variety of electronic gadgets along with rising use of modern communication technology would drive demand for USB wall chargers.
Key Takeaways from Market Study
- Sales of USB wall chargers accounted for 12% share of the global electronic accessories market in 2022.
- Sales of USB type C chargers are projected to advance at a CAGR of 6.5% and reach a value of US$ 1.08 billion by 2033-end.
- Demand for USB wall chargers in the United States is estimated to expand at 5.4% CAGR and reach a market valuation of US$ 906.39 million by the end of 2033.
- The USB wall charger market in Japan is forecasted to register a 4.5% CAGR and reach a valuation of US$ 136.11 million by the end of 2033.
- The South Korean market is estimated to expand at a CAGR of 3.9% and reach a valuation of US$ 95.9 million by 2033-end.
In a recently released report, Fact.MR, a provider of competitive intelligence and market research, offers a thorough examination of multiple factors related to the USB wall charger industry. This paper provides a detailed analysis of several market growth methods. The market research study includes a detailed analysis of key trends, sales analysis of USB wall chargers, new breakthroughs, etc.
“Growing Demand for Electronic Devices Driving Sales of Multiport with Single Power Output USB Chargers”
Some common varieties of USB chargers are single port with single output, multiport with single power output, and multiport with multiport power outport. Among these, sales of multiport chargers with a single power output are anticipated to increase at a compound annual growth rate (CAGR) of 5.8% and reach US$ 931.1 million in market value by the end of 2033.
Multi-port USB charger sales are expected to increase due to the growing need for electronic gadgets with limited battery lives. The integration of SmartLiz technology into various multi-port USB wall chargers is gaining traction due to its capacity to deliver rapid charging while autonomously determining the type of attached device. The multiport with single port output category is anticipated to hold a 30% share of the global market in light of the previously mentioned considerations.
Key Market Players
Prominent providers of USB wall chargers are spending more on innovative products. Players in the industry are also taking important steps, such bolstering supply chain management systems and upholding product standards.
Producers of USB wall chargers are investigating novel technology aimed at enhancing customer convenience. In the upcoming ten years, leading manufacturers will engage in strategic acquisitions, joint ventures, product launches, etc. to obtain a competitive advantage in the market.
For instance :
- In 2021, Anker Innovations introduced gallium nitrate (GaN) II technology that includes a Nano II series charger. The product comprises 30-, 45-, & 65-watt chargers with capabilities of fast charging.
- In 2021, BG Electrical launched 30 W USB-C & USB-A integrated wall chargers. They guarantee fast charging features for laptops, tablets, and smartphones.
