PUBLISHER: Allied Market Research | PRODUCT CODE: 1179634
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179634
The global USB wall socket market was valued at $1.0 billion in 2021, and is projected to reach $1.6 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
A USB socket is accessible with one or more USB connections, allowing numerous devices to be connected at the same time. The term "USB Wall Socket" refers to plug sockets that are mounted on the wall and have built-in USB ports. It's also known as a USB charger receptacle or a wall USB outlet. A USB wall socket is a receptacle that allows current to flow through a wire system to power electrical devices.
USB wall sockets are more convenient to use and also reduce the expansion of the types of charging available. A USB receptacle allows customer to charge an electrical device, such as a tablet or smartphone, using only the device's usual USB charging cord, eliminating the need for an additional converter or computer. It also frees up the electrical outlets for everyday use. All USB wall outlets convert 240-volt mains electricity to 5 volts, which is used to power electronic devices. However, not all outlets offer the same current, some low-cost models provide as little as 1 amp, and many outlets with two sockets even split the current.
On July 8 2021, Leviton launched SmartlockPro® GFCI Combination 24W (4.8A) Type A USB In-Wall Charger Outlet. This provides not only safety but provide advantage of powerful USB charging. In 2018, Foxconn Interconnect Technology Limited (FIT) and Belkin International, Inc. have reached a definitive agreement. FIT agreed to buy Belkin International for roughly $ 866 million in cash under the terms of the agreement. The goal of this acquisition was to strengthen R&D skills while also capitalizing on opportunities in the premium accessory market. In 2018, Scosche Industries, Inc. unveiled a new line of USB-CTM Power Delivery technology-based home and automobile charging/power delivery products. This gadget is unique in that it provides the fastest possible charging for both smartphones and tablets. Legrand introduced a 13A socket with a built-in USB Type-C port. The Synergy USB socket may be fitted in the same way as a regular BS 13A socket, with no additional wiring or installer certifications required, making it ideal for both new-build and retrofit applications. The two-gang model includes both a traditional USB Type-A and a new Type-C outlet, allowing customers to charge several devices from a single outlet. It also offers a solution that is both quick to use and adaptable to the growing number of Type-C devices on the market. The presence of above mentioned trends will influence the growth of the market during the forecast period.
The global USB wall socket market is segmented on the basis of type, USB standard, application and region. On the basis of type, it is segmented into two USB ports, Four USB ports, and others. On the basis of USB standards, the market is segmented into Type-A, Type-B, and Type-C. On the basis of application, the market is segmented into residential, commercial and industrial. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include Leviton, Legrand, Eaton, Hubbell, Jasco Products, Lutron Electronics, TopGreener, Newer Tech, Maxxima, Maxell Holdings Ltd., Mophie Inc., XXtreme Cables, BG Electrical, Accel, and Anker Technology Co. Limited. Due to rapid industrialization, urbanization and gradual increase in utilization of electronic gadgets in the daily life has led to increase in the demand for USB charger products. Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in new technologies related to USB wall socket, have led to attain key developments in the global USB wall socket market trends.
Impact of COVID-19 of Global USB Wall Socket Market
The global COVID-19 pandemic has negative impact on the USB wall socket market. Owing to the outbreak of the COVID-19 pandemic, governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from residential to industrial sectors. Moreover, companies are dealing with missing sales and fractured supply chains as production activities shutdowns. During the pandemic outbreak there is a surge in the demand for USB chargers due to increase in the utilization of electronic gadgets from home for work and most of the education institutions across the globe have taken classes from online which led to surge in the demand for smartphones and laptops.
Post pandemic outbreak, the gradual surge in the construction sector and tourism industry has led to increase in the demand for USB wall socket systems. The government of various developing and developed countries has invested in the construction of smart infrastructure and transportation services which will drive the demand for USB wall socket systems. The trend is expected to continue during the forecast period.
Key Benefits For Stakeholders
By Type
By USB Standard
By Application
By Region