Adoption and use by major industries and unique design of the port has pulled the focus of buyers and manufacturers. North America will witness major profit in the coming years.
DUBAI, UAE / ACCESSWIRE / October 14, 2020 / The usb type c market is expected to expand at a CAGR of 29% through the forecast period (2020-2030) across the globe. Telecommunication and electronics will help the market witness significant growth in the near future. COVID-19 has fuelled the demand as sales have experienced enough profit. Though major challenges like limited use or heat dissipation will affect the market yet a steady growth will be noticed.
“Small and medium enterprises or growing demand by retailers and manufacturers, is motivating revenue generation due to adoption of port. Improving data transfer speed and high quality streaming videos is attracting consumers, thereby, enhancing market growth.,” states the FMI Analyst.
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USB type-C Market – Key Highlights
- On the basis of application, smartphones and tablets hold maximum market share due to increased sale.
- Global market is expected to surpass US$ 7.9 billion with a CAGR of 29% through 2030.
- Demand for HDMI segment will witness maximum profit in the near future.
- On the basis of region, North America has taken the spotlight with almost 1/3rd of the total market share.
USB type-C Market – Driving Factors
- Wide applications and adoption of USB type-C in e-commerce and retails industries and automotive sectors is driving the market.
- Automotive, telecommunication and healthcare industry is gaining pace in the developing economies and contributing to the economy.
- Digital cameras, laptops, smartphones, tablets and TV is said to be the most lucrative end-use segment of all.
- Use by drivers, passengers,