USB Controllers Market Is Driven By Growing Marketplace For Consumer Electronics

USB Controllers Market Is Driven By Growing Marketplace For Consumer Electronics

According to a new market research report published by Credence Research “Global USB controllers Market (Type (Type A, Type B, Type C); Application (Data Storage, Data Transfer, Others), End-User (Automotive, Consumer Electronics, Industrial, Healthcare, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall USB controllers market worldwide is set to grow with a CAGR of 15.5% during the forecast period.

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Market Insights

The global USB controllers market is highly driven by the technological advancement and increasing applications of USB controllers in consumer electronics and other industrial verticals. Globally, the adoption of wireless devices is growing rapidly which is contributing to high usage of USB devices. As these devices makes data storage and data transfer easy and hassle-free, the demand for USB devices and controllers is rapidly increasing. Furthermore, with growing applications, the key players operating in the USB controllers market are focusing on developing advanced products with unique additional features.

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For instance, in November 2014 Cypress Semiconductor and Icron Technologies collaboratively completed interoperability testing between Cypress’s EZ-USB FX3 USB 3.0 peripheral controller and EZ-USB CX3 camera controller and Icron’s USB 3.0 Spectra 3001-15 active copper extension cable. This enabled the company to extend it existing product offerings. Such activities fuel the growth of the USB controllers market during the forecast period. However, lack of technical skills, high cost of the modern devices and lack of support services in case of damage or technical issues are likely to hamper the growth of this market during the forecast period.

Based on type, the Type C USB controllers are projected to witness a rapid growth of around 40% during the forecast period. As technological advancements have propelled key players to develop advanced products, the development and launch of uniquely designed type C controllers is highly contributing to this fast growth. By geography, North America dominated the global USB controllers market based on increasing adoption of advanced technologies and growing investments in research and development activities. However, Asia-Pacific is expected to be the fastest growing market due to increasing demand for consumer electronics and other advanced tools in this region. The increasing disposable income in the region and growing presence of various manufacturing in the region also drives the market in this region.

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Some of the major companies Cypress Semiconductor, Molex Woodhead, Microchip, ABB, Exar, Maxim, Texas Instruments, Eaton, Silicon Labs, Crouzet Automation, FTDI Chip, Diodes Inc, Panasonic, Omron Automation, and Fairchild Semiconductor among others.

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