USB Wall Charger Market Progress & Manufacturer Contribution Highlighted until 2027
This report provides prediction and investigation of the USB wall charger market. It offers antique statistics along with global forecast data by the end of 2027.
[ClickPress, Tue May 14 2019] Fact.MR has actively published a new research study titled “USB Wall Charger Market Progress & Manufacturer Contribution Highlighted until 2027 | Key Players are Poweradd, Intex Technologies (India) Ltd., iClever, Koninklijke Philips N.V, etc.” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the USB wall charger market during the period from 2018-2027. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global USB wall charger market is expected to showcase impressive growth at 6.2% CAGR during the period until 2027.
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USB Wall Charger Market - Notable Highlights
- Belkin International, Inc. and Foxconn Interconnect Technology Limited (FIT) signed a definitive agreement in 2018. As per the agreement, FIT agreed to acquire Belkin International for approximately US$ 866 million in cash. This acquisition was aimed at fostering research and development capabilities and tapping into opportunities in the premium accessories market.
- Jasco Products Company, LLC entered into an agreement with Gibson Innovations in 2017 for distribution of Philips accessories in the categories of consumer electronic, mobile and home power for the U.S. and Canadian markets.
- Anker Technology Co. Limited released the PowerCore+ 26800 Power Delivery in the year 2017. This product has the highest compatible external battery with power delivery technology and is capable of charging the Nintendo Switch in portable mode, Apple’s iPad Pro, and other varieties of USB-C Power Delivery-enabled devices at optimal speed.
- Scosche Industries, Inc. announced a new line of home and vehicle charging/power delivery products using USB-C™ Power Delivery technology in the year 2018. This product is one-of-its-kind in terms of providing fastest charge possible for both smartphones and tablets.
The report on USB wall charger market also features the other key players operating in the market space. The other market players profiled in the report include Poweradd, Intex Technologies (India) Ltd., iClever, Koninklijke Philips N.V., Aukey, and 360 Electrical, LLC.
Tier 1 Players Hold 5-10% Revenue Share, Distinguishable Products with Integrated Advancements Remains a Key Strategy
The USB wall charger market remains highly-fragmented, with widespread presence of several small to medium-sized regional players that are competing with established companies. The nature of this fragmented and highly-competitive market conveys low or no entry barriers with sporadic product innovations.
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The tier 1 players hold nearly 5-10% revenue share and focus on offering distinguishable products with integration of advanced technologies. Moreover, the tier 1 players also remain focused on expanding production facilities and entering into strategic alliances with regional players to enhance their bottom lines and retain their market sustenance.
Need for Simultaneous Charging of Multiple Devices Boosts Adoption of Multi-Port USB Wall Chargers
Demand for USB wall chargers is on a persistent rise against the backdrop of short battery lives of the new-age electronic devices. With prolonged use of electronic devices such as smartphones, tablets, and laptops in conjunction with evolving hi-tech lives, the multi-port USB wall charger is being rapidly adopted for charging multiple devices at the same time. Compatibility and fast-charging remain two of the key attributes of a multi-port USB wall charger, thereby fostering its overall popularity quo.
Integration of SmartLiz technology in multi-port USB wall charger is gaining swift prominence, owing to its ability to offer high-speed charging by automatically detecting nature of the connected device. Furthermore, compact multi-port USB wall chargers with high warranty period is gaining significant customer appreciation in terms of usability.
Growing Focus on Certified USB Chargers: Challenge for Unorganized Players, Opportunity for Leading Players
Marked preference by end-users for certified USB chargers is becoming more evident than ever. Consumer orientation toward quality than quantity is likely to favor the growth of leading players in the market. However, the unorganized players may face a decline in adoption of their products.
Prominent players such as Belkin International, Inc., Anker Technology Co. Limited, and Philips have ensured quality-based and standard certifications to enhance customer retention. A recent sampling and compliance project was held by Health Canada, wherein multiple numbers of uncertified USB chargers were tested and were found to pose unacceptable risks of electric shocks. Moreover, ‘The Certified USB Charger Initiative’ was designed with an objective of helping consumers get rid of low-quality or non-compliant USB chargers. Particulars, as such, are likely to make it tough for the unorganized manufacturers to scale up in terms of profits in the USB wall charger market space.
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