USB Controllers Market to grow at highest pace owing to increasing demand for USB devices
The USB Controllers market is anticipated to grow significantly over the forecast period. USB controllers help in transferring data between external USB devices such as mice, keyboards, printers, mobile phones and storage devices and a computer/laptop. Factors such as the expanding adoption of USB devices across various sectors including consumer electronics, healthcare, automotive, industrial etc, advancement in USB connectivity and specifications such as USB 3.0, USB 3.1 and USB 3.2 and the compact size and plug-and-play features of USB devices are stimulating the demand for USB controllers.
The Global USB Controllers Market is estimated to be valued at US$ 9.24 Bn in 2024 and is expected to reach US$ 17.85 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Key Takeaways
Key players operating in the USB Controllers market are ASMedia Technology Inc., Broadcom Inc., Cypress Semi.
The USB Controllers Market Growth is anticipated to boost significantly owing to the rising adoption of USB devices across sectors like consumer electronics, healthcare, automotive etc. For instance, the growing sales of smartphones, tablets, laptops, wearables are fueling the adoption of USB devices and hence USB controllers.
New technological advancements such as USB 3.1 and USB 3.2 standards offering higher data transfer speeds are prompting technology companies to integrate these new USB standards into their hardware devices. This is expected to augment the demand for advanced USB controllers to support the new USB specifications.
Market Trends
Increased adoption of USB Type-C - The USB Type C interface standard delivers both high-speed data transfer and high-wattage power delivery over a single connector. This has led to rising popularity of USB Type C connectors across portable devices.
Growing popularity of USB 3.0 and above - The emergence of latest USB specifications such as USB 3.0, USB 3.1 and USB 3.2 offering much faster data transfer speeds up to 10 Gbps is driving their increased adoption. This is anticipated to drive the need for USB 3.0 and above controllers.
Market Opportunities
Growth in USB powered devices - Emergence of various USB powered devices such as smart home devices, wireless speakers, smartphones etc. is expected to open new avenues for USB controllers.
Incorporation of USB-C in automotive systems - Growing integration of USB-C in dashboard units, rear-seat entertainment systems in modern vehicles is projected to create new opportunities.
Impact of COVID-19 on USB Controllers Market:
The COVID-19 pandemic has affected the USB Controllers Market Growth in significant ways. Due to the lockdowns imposed across various countries, the production and supply chain of USB controllers were disrupted in 2020. This led to a decline in the sales of devices like computers, smartphones, gaming consoles which utilize USB controllers. With people confined to their homes, the demand for consumer electronics witnessed a dip, which negatively impacted the sales of USB controllers. As enterprises urged their employees to work from home, the demand for laptops, webcams and other devices saw an uptick yet again. However, it was not enough to offset the earlier decline caused due to lockdowns.
As countries reopen their economies gradually amid vaccination drives, the demand for consumer electronics is recovering. The work from home and online education culture is expected to sustain even in the post COVID era. This is projected to fuel the sales of laptops, tablets, webcams and other devices using USB controllers. device manufacturers are ramping up their production activities to fulfil the growing demand. However, the uncertain economic conditions and fear of subsequent waves continue to pose challenges. Going forward, mass vaccination programmes and resumption of business activities are expected to help restore normalcy. Device manufacturers will have to realign their supply chains and production facilities to cater to the changing market dynamics.
Geographical regions with high concentration of USB controllers market in terms of value:
The Asia Pacific region accounts for a major share of the global USB controllers market in terms of value. Countries like China, Taiwan, South Korea and Japan are home to several leading electronic device manufacturers who are major consumers of USB controllers. This region witnessed robust growth in demand for consumer electronics like smartphones, laptops, gaming consoles prior to the pandemic. Even during the pandemic, as these economies reopened swiftly, the sales of devices rebounded faster compared to other regions. Being an important manufacturing hub, any decline in APAC's demand severely impacts the USB controllers market.North America is another lucrative market, driven by high sales of devices such as computers, smartphones and gaming systems.
Fastest growing region for USB controllers market:
The Middle East and Africa region is projected to be the fastest growing market for USB controllers over the forecast period. Factors such as improving economic growth, rising disposable incomes, growing digitization and increasing penetration of internet-enabled devices are fueling the sales of electronics in this region. Countries such as Turkey, Saudi Arabia and South Africa offer significant business potential. As living standards enhance, the demand for consumer electronics is accelerating at a rapid pace in MEA. This is contributing to the increasing uptake of USB controllers. Device manufacturers are also shifting their focus towards these untapped markets to benefit from new revenue streams and capitalize on the market growth opportunities.
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