USB Type-C Market Share

APAC Market Statistics

The market in the Asia Pacific industry is anticipated to hold largest revenue share by 2037. The market in the region is also expected to grow with the highest CAGR during the forecast period. The market in China is expected to hold the largest share by the end of 2036. China has one of the biggest consumer electronic markets in the world. As per the Organization for Economic Corporation and Development, the nation is making significant restructuring efforts in the electronics sector, with a significant shift away from consumer electronics and towards electronic components and industrial electronics, with domestic manufacturing being concentrated on high-value segments. Furthermore, with more than one-third of the global market's sales in 2018, Asia Pacific dominated the USB-C market. Most Asian manufacturers now use the USB-C standard in both their high-end and basic phones. Since Asia Pacific is the region with the largest smartphone market, USB-C has significantly increased its market share. Asia Pacific will continue to have a dominating position in the market owing to the region's rapidly expanding smartphone and tablet industries during the forecast period.

North American Market Forecast

Further, the market in North America is expected to hold the second leading stance by registering a significant market revenue by the end of 2037. The growth of the market in the region can be attributed to the increasing number of consumer electronic brands, such as Philips, Panasonic, Samsung, and others, who are switching to USB Type-C connectivity in electronic and smart devices. Besides, the market in the region is also expected to grow on the account of large penetration of consumer electronic goods doubled with its application in the healthcare and automotive sector. In addition, a growing customer base, high disposable income, and availability of a few Apple devices are a few factors driving the growth of this market in the North American region. Owing to high consumer electronic product spending by a significant portion of the world's population and early adoption of cutting-edge technology by key industry players, North America is anticipated to account for a sizable portion of the market in the upcoming years. Moreover, the market expansion in the region is being driven by an increase in research and development spending by information technology and communication firms, particularly in the US.

Europe Market Forecast

Furthermore, the Europe region is expected to account a significant market growth by the end of 2036. USB Type-C is highly used as a default option by many electronic device manufacturers in the Europe region. For instance, currently, the government in Europe Union is legislating the use of USB Type-C in all mobile phones and electronic devices to minimize electronic waste.