Cables and Charger Market Size to Reach USD 74.57 Billion in 2030, Increasing Demand for Smartphones and Electronic Devices for Quick and Ultrafast Charging Is Driving Demand
Increasing demand for smartphones and electronic devices is driving the market revenue growth
Market Size – USD 33.94 Billion in 2021, Market Growth – at a CAGR of 9.2%, Market Trends –Rising trends of quick and ultra-fast charging functionality
The Cables and Charger Market size was USD 33.94 Billion in 2021 and is expected to register a revenue CAGR of 9.2% over the forecast period, according to a latest report by Reports and Data. Increasing demand for smartphones and electronic devices for quick and ultrafast charging is driving demand for cables and chargers. Quick and ultra-fast charging has become a prime feature of smartphones and major consumer electronics brands are launching their new devices with higher milliamp-hours (mAh) battery capacity, therefore a significant demand is expected to accelerate revenue growth of the market over the forecast period.
Moreover, increasing demand for android, iOS devices, and smart home accessories are contributing to revenue growth of the cables & charger market. According to the International Telecommunication Union (ITU) in 2020, the number of mobile cellular subscriptions around the world is 8.27 billion. Market leaders of charger and cables products designers and makers such as Qualcomm, Anker, Xiaomi, NuPower, and several other brands are designing cables and chargers exclusively for quick and ultra-fast charging functionality, that will allow charging speeds by 0-50% in five minutes. These innovations are driving revenue growth of the market.
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Companies profiled in the market report are Apple Inc., Samsung Electronics Co., Ltd., Xiaomi Corporation, Sony Corporation, OnePlus, Fantasia Trading LLC (Anker), Shenzhen Xincheng Technology Co., Ltd., Fuyuan Electronic Co., Ltd., Shenzhen Quawin TEC Technology Co., Ltd., and Guangzhou Xinhaotian Technology Company
Some Key Highlights From the Report
- The USB Type A segment accounted for the largest revenue share in 2021. USB Type A is frequently bought by consumers and most of modern computers, laptops, gaming consoles such as PlayStation, Xbox, nintendo switch, smart TVs, streaming media players, and other devices support USB Type-A port. Therefore, a large adoption is driving revenue growth of the segment. USB Type B is widely used in peripherals, such as printer, upstream port on hub, or other larger peripheral devices. Whereas, the USB Type-C segment is a latest iteration of the USB connector and is a promising segment in generating significant demand. Majority of the smartphones and windows devices are launching USB Type-C chargers, these types of chargers offer efficient power supply and high-speed data transfer with a diverse capability of connecting a wide array of devices. Moreover, lightning connector is popular segment for connecting iOS enabled devices such as iPhone, iPad, MacBook, and iMac devices.
- The 30W and below segment accounted for larger revenue share in 2021. 30W and below charger is standard category as most smartphones and smart devices are compatible with 30W and below charger. Standard 30W charger is an ideal power output for charging lithium-ion (li-ion) rechargeable batteries. The 30W – 75W power output segment is a promising segment in elevating revenue growth of the market. Several smartphones are launching with higher milliamp-hours (mAh) battery capacity, therefore a large quantity of 30W – 75W power output chargers are required to meet the market demand. Dual charge technology is supported with 30W – 75W power output and quick charge enables charging speeds of up to 0-50 in five minutes, with 70% more efficiently than with conventional solution. 75W power output is highly functional in applications such as travel solutions, docking stations, and various other high-end applications.
- The wall charger segment accounted for largest revenue share in 2021. Wall charger is an ideal solution for charging several devices with universal compatibility. These wall chargers are rapidly used in homes, hotels, waiting rooms, airports, cafes, and many other personal as well as business needs. Moreover, the car charger segment is growing steadily and is widely used for smartphone charging and connecting vehicles infotainment systems such as Apple CarPlay and Android Auto. Car charger ports are universal and it allows in paring multiple devices with USB-A cable. All these factors are contributing to revenue growth of the segment.
- North America accounted for largest revenue share in 2021. Digital population in the U.S. has increased over two decades. According to the World Bank, in 2020, over 92% of North Americans had access to the Internet. The access of Internet connection has uplifted demand for consumer electronics devices such as smartphones, laptops, tablets, gaming consoles, e-book reader, and many other products, which is subsequently driving demand for cables and chargers in the region. According to research, around 82.2% of the population are using smartphone in the U.S. Smart home accessories are exceedingly adopting among North American consumers, which is expected to fuel revenue growth of the cables & charger market. Furthermore, significant developments in the region are contributing toward making several opportunities. For instance, the U.S. Department of Commerce announced taking legislative initiative for including mandatory Type-C phone charger across all devices for the benefit of consumers and the environment. Additionally, cables and charger manufacturers are showcasing new versatile products innovations in events such as Consumer Electronics Show (CES) by the Consumer Technology Association, which is further expected to support revenue growth of market in the region.
- On 4 January 2022, Anker, which is one of the major market leader of cables and charger manufacturers, launched 100 W Anker 736 charger. The company has upgraded design of the model and an upgraded circuit board for maximum efficiency. This new product is powered by the world’s smallest 100-watt wall charger. Also, it is featured by latest Anker PowerIQ 3.0 technology for optimized charging. The company has claimed that, the product doesn’t compromise on charging power, and new technology will deliver double the operating frequency of with an updated stacked design.
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For the purpose of this report, Reports and Data has segmented the cables and charger market based on USB type, power output, charger type, application and region:
USB Type Outlook (Revenue, USD Billion; 2019-2030)
- USB Type A
- USB Type B
- USB Type C
- Lightning connector
Power Output Outlook (Revenue, USD Billion; 2019-2030)
- 30W and below
- 30W – 75W
- 75W and above
Charger Type Outlook (Revenue, USD Billion; 2019-2030)
- Wall charger
- Car charger
Application Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Latin America
- Middle East & Africa
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Key Advantages of Cables and Charger Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Cables and Charger industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Cables and Charger market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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