USB car charger: Key market research findings
- The Americas dominate the market globally
- Delay in onset of connected cards fuels market growth
- Key vendors – AmazonBasics, Belkin, Anker, and Sony
The market research analysts at Technavio predict the global market for USB car chargers to grow at a CAGR of around 4% between 2016 and 2020. The adoption of USB car chargers is driven by the need for a compact, quick, and convenient charging solution that can be used while on the go. The size, compatibility, and charging speed make the USB car charger a convenient choice for busy cell phone users, especially the working class. Their relatively smaller size also makes them ideal to carry around. During 2015, the Americas accounted for around 44% of the overall market share to become the dominant shareholder in the global USB car charger market. Early adoption of smartphones and tablets, coupled with proliferation of mobile Internet are some of the factors contributing to the high growth rate of the market in this region during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The delay in the onset of connected cars plays a vital role in fueling the demand for USB car chargers. The onset of connected cars in the mid-range automotive sector is not likely to witness any large volumes of connected cars in the coming years. As a result, consumers are happy connecting their electronic devices to the infotainment features of their automobiles. With this in mind, automotive manufacturers have started offering multiple USB car chargers in the vehicle to accommodate multiple devices,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The demand for USB car chargers is expected to go up with users switching to 4G services, especially in developing countries. The speed of data transmission in 4G is almost 10 times faster than 3G, resulting in increased data transmissions. This increases battery consumption and users need to frequently charge their smart devices. Thus, USB car chargers will play a crucial role in ensuring frequent battery recharges in absence of any other power source, especially when users are travelling.
The key players in the global USB car charger market include AmazonBasics, Belkin, Anker, and Sony. The market is highly fragmented owing to the presence of some prominent players along with several smaller regional and local players. The local players are taking up the market share of prominent vendors regionally by offering products that are priced lower and yet, has a certain quality standard. High adoption of technologically advanced smart devices and increasing use of smartphone apps makes frequent charging of devices imperative. This is augmenting the demand for USB car chargers in the market globally. As a result, there is a notable rise in the emergence of many new players, especially in countries such as China and Taiwan.
A more detailed analysis is available in the Technavio report, Global USB Car Charger Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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