PUBLISHER: SkyQuest | PRODUCT CODE: 1463458
PUBLISHER: SkyQuest | PRODUCT CODE: 1463458
The Global USB Controllers Market size was valued at USD 7.47 billion in 2022 and is poised to grow from USD 8.05 billion in 2023 to USD 14.69 billion by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).
These devices are widely utilized worldwide as the demand for external data storage devices and data transmission networks increases. The primary factors propelling the growth of the USB controller market are advancements in technology, an increase in research and development expenses for the development and launch of advanced controllers of the next generation, and the growing consumer demand for devices that are user-friendly and versatile.
This shows how popular USB controllers are becoming across a range of industries, including consumer electronics, automotive, industrial automation, and healthcare. Due to growing consumer expectations and the fact that many electronic items already include wireless technology, wireless USB is expected to become more and more common. Technology has a major role in computing, communication, and market networking.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global USB Controllers Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global USB Controllers Market Segmental Analysis
Global USB Controllers Market is segmented on the basis of type, application and region. By application, the market is segmented into computers, smartphones, gaming consoles, automotive, industrial automotive. By type, the market is segmented into host controllers, device controllers, otg controllers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drivers of the Global USB Controllers Market
One of the major factors propelling the global market for USB controllers is the growing need for quicker data transfer. The primary cause of this driver is the rise in popularity of high-bandwidth uses like virtual reality, gaming, and video streaming. Users are requesting higher data transmission speeds as these applications become more and more popular in order to guarantee seamless performance. To accommodate this need, USB controllers that support greater data transfer rates-such as USB 3.0 and USB 3.1-are growing in popularity.
Restraints in the Global USB Controllers Market
PCs and laptops frequently use USB controllers for charging and data transfer. As a result, there is a strong correlation between the growth of the PC and laptop markets and the demand for USB controllers. Mobile devices like smartphones and tablets are becoming more popular than PCs and laptops. Consequently, there is a growing need for USB controllers in these gadgets. Nevertheless, the market for mobile devices might not expand quickly enough to counteract the market downturn for PCs and laptops, which could have an effect on the market for USB controllers.
Market Trends of the Global USB Controllers Market
Wireless charging is becoming more and more common, even if USB controllers are still commonly used to charge gadgets. Thus, wirelessly charging USB controllers are starting to appear more frequently. In response to consumer demand, manufacturers are creating USB controllers that support both wired and wireless charging.