According to a recent report by Reports and Data, the global cables and charger market size was USD 33.94 billion in 2021 and is projected to grow at a revenue CAGR of 9.2% during the forecast period. The increasing demand for smartphones and electronic devices, as well as the need for quick and ultrafast charging, are major drivers of market growth. Many consumer electronics brands are launching new devices with higher battery capacity, making quick and ultra-fast charging a key feature of smartphones and other electronics.
In addition, the market is expected to experience significant growth due to the increasing demand for Android and iOS devices and smart home accessories. According to the International Telecommunication Union (ITU), there were 8.27 billion mobile cellular subscriptions worldwide in 2020. Leading brands in the charger and cables market, such as Qualcomm, Anker, Xiaomi, and NuPower, are developing cables and chargers that are specifically designed for quick and ultra-fast charging, with some allowing charging speeds of 0-50% in just five minutes. These innovations are expected to drive revenue growth in the market in the coming years.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive landscape of global Keyword market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
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.
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some leading companies operating in the global Keyword market:
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
The global market is further segmented into type and application:
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)
The demand for accessories such as cables and chargers is increasing due to the growing population and the continued trend of online selling of consumer electronics devices. The sales volume of cables and chargers is expected to continue to grow with global trade and demand. The value of global trade reached USD 28.5 trillion in 2021, with an increase of 25% compared to 2020, according to the United Nations Conference on Trade and Development (UNCTAD). The digital revolution, coupled with the increasing internet penetration worldwide, has accelerated revenue growth in the cables charger market. Around 63% of the world's population, or 4.9 billion people, used the internet in 2021, according to the International Telecommunication Union (ITU).
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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