LONDON--(BUSINESS WIRE)--The global USB car charger market is expected to post a CAGR of more than 1% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The sales volume of smartphones and wearables are growing exponentially across the world due to declining prices of electronic components and constant technological innovations. The need for charging these devices while traveling is propelling the demand for USB car chargers. Some of the smart wearable and IoT devices such as VR headsets, fitness trackers, smartwatches, wireless sensors, and monitoring devices encounter short uptime issues. As a result, USB car charger manufacturers are focusing on developing power-efficient technology solutions. These solutions use more than one output point and higher power output to keep these devices running for a long duration. Thus, technological innovations will boost the growth of the USB car charger market during the forecast period.
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As per Technavio, the increasing dependence on smartphones for applications while driving, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global USB Car Charger Market: Increasing Dependence on Smartphones for Applications While Driving
Smartphones are extensively being used by vehicle owners for several purposes such as entertainment and navigation while driving. Smartphone devices can be connected to Apple CarPlay or Android Auto when they are charged on-the-go. USB car chargers help users to use their phones while traveling and reduce battery drainage while using battery-intensive navigation applications. Also, automakers are developing advanced human-machine interface (HMI) that are integrated with smartphones to address battery drain issues. Thus, with the increasing dependence on smartphones while driving, the market for USB car charger is expected to showcase a positive outlook during the forecast period.
“Apart from the increasing dependence on smartphones for applications while driving, the growing penetration of wireless charging outlets and adoption of in-car wireless charging are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global USB Car Charger Market: Segmentation Analysis
This market research report segments the global USB car charger market by product (USB 2.0 and USB 3.0) and geography (North America, APAC, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing penetration of electric vehicles and high purchasing power of the middle-class population in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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