Global Automotive USB-C Market TOC
Automotive USB-C Market size was valued at USD 39.79 Million in 2023 and is projected to reach USD 1.45 Billion by the end of 2036, expanding at around 31.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of automotive usb-c is assessed at USD 51.21 Million. The major factor to influence the growth of the market is the growing demand for electric vehicles. The worldwide sales of electric vehicles crossed over 9 million in 2022, and this year's sales are predicted to surge by another about 34% to 14 million. Hence, the demand for automotive USB-C is projected to grow.
Moreover, a robust network of charging stations needs to be established for fleets and individual customers to accommodate the increasing number of EVs in use. As a result, great investments and various schemes have been launched has been made by the governments of various nations for the development of various changing centers for EVs. Hence, the automotive USB-C market revenue is set to rise.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Historical Period |
2018-2023 |
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CAGR |
31.9% |
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Base Year Market Size (2023) |
USD 39.79 Million |
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Forecast Year Market Size (2036) |
USD 1.45 Billion |
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Regional Scope |
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Application (Head Units, Charging USB-C)
The charging USB-C segment in the automotive USB-C market is predicted to grow at the highest CAGR of 33.31% during the forecast period. In all industries and applications, including the automotive sector, USB Type-C (PD) power supply continues to rise in popularity. Additionally, in various nations, the use of USB-C has been made mandatory. For instance, the European Union Parliament formally passed a law on October 5, 2022, regulating that by the autumn of 2024, consumer electronics items had to contain a USB-C charging connector. In coming years this is also expected to become necessary in automotive. This is because the government is putting effort into combating e-waste and providing customers with easy solutions for changing and USB-C charging is expected to be the most fit. This may be owing to the fact that fewer cables will need to be produced and included with new items, which will decrease the amount of e-waste produced by abandoned electronics.
Speed Level (USB 2.0, USB 3.0, USB 3.1, USB 3.2, Others)
The USB 3.2 segment in the automotive USB-C market is estimated to grow at a largest CAGR of 34.73% during the projected period. Mass storage devices determined by USB 3.2 that connect at 20Gbps may surpass the newest SSDs and give more throughput as compared to USB 3.0. Nonetheless, industrial image processing systems have comparable issues, especially considering that data compression is typically unavailable. These systems go through the steps of taking pictures, analyzing them, and then acting accordingly. For instance, they remove objects off high-speed conveyor belts quickly. These systems that are crucial to time can handle greater resolutions and higher frame rates due to USB 3.2. However, the USB 2.0 segment is estimated to capture the highest revenue of USD 456.5 Million by the end of 2036.
Our in-depth analysis of the global automotive USB-C market includes the following segments:
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Application |
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Speed Level |
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APAC Market Forecast
The Asia Pacific automotive USB-C market is poised to dominate 53% revenue share by 2036. This growth of the market is set to be dominated by rising demand for consumer electronics such as laptops. Over 75 percent of individuals in India in 2023 reported that their household had one laptop. Furthermore, there has been a rise in key players in the automotive along with growing production of automotive. Moreover, the Asia-Pacific region, which covers an area of over 28 million square kilometers, is home to approximately 59% of the world's population. When it comes to population growth, several of the countries in the region—China and India, for instance-are among the fastest-growing worldwide. It ought to come as expected that Asian economies and businesses are continuously changing given their growing population. The automobile sector is one such industry because population growth raises the need for efficient transportation.
North American Market Analysis
The automotive USB-C market in North America is also projected to have significant growth in the market over the forecast period. This could be caused by a variety of factors, such as a big consumer base, rising technology, a rise in spending power, and others. Additionally, automakers are focusing more on vehicle automation as a result of an increasing need for driver assistance systems (DAS). Furthermore, to improve the in-car experience, auto accessory makers developed advanced USB systems. This increased demand for automotive USB-C in North America and contributed to the automotive USB-C market growth over the projection period. Moreover, during the projection period, features including parking assistance, predictive navigation, and the rise in smartphones with in-car infotainment systems would all contribute to the need for automotive USB-C in this region.
Author Credits: Saima Khursheed
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