The Europe USB device market is expected to grow from US$ 8,313.22 million in 2019 to US$ 16,250.95 million by 2027; it is estimated to grow at a CAGR of 9.0 % from 2020 to 2027. The escalating demand for consumer electronics propels the growth of the market. The increasing use of consumer electronics such as smartphones and laptops in Europe countries is mainly attributed to rising disposable income, increasing population, and growing Internet penetration. The ongoing significant technological developments have led to rise in the penetration of these devices across several economies. USB devices have become a dominant interface to address growing requirements for swift data transfer between end devices, such as laptops, smartphones, PCs, and digital cameras. Thus, with the escalating demand for consumer electronics and data transmission products, the Europe USB devices market players highly focus on launching new products to achieve sustainable growth and distinguish themselves from their competitors. For instance, D-link announced its WI-FI 6 USB wireless network card. The product adds WI-FI 6 connectivity to the user’s laptop or desktop. Such strategies drive the growth of the Europe USB device market.
In case of COVID-19 outbreak, several countries across Europe are highly affected.Businesses in the region face severe economic difficulties as they either suspend their operations or substantially reduce their activities.
Due to business lockdowns, travel bans, and supply chain disruptions, the region witnessed an economic slowdown in 2020, and it is most likely to continue till Mid-2021.The member states of Europe such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to control the spread of the novel coronavirus among its citizens.
Several European countries represent a major market for USB device adoption and growth due to growing automotive infotainment systems and rising use in smart devices.However, due to COVID-19 outbreak, the manufacturing of various electronics components used for USB devices has seen a sharp decline in European countries.
The market was under stress in 2020, and it will require time to stabilize. The disruptions in the supply of raw materials and electronic components from China hinder the manufacturing industries in this region. All these factors are directly impacting the USB device market growth in European countries. The market in Russia, Italy, Germany, the UK, and France witnessed worst impact in 2020, and it is likely to continue in 2021.
Based on product, the computer peripherals segment led the Europe USB device market in 2019.The number of USB devices are included in computer peripherals such as mouse, keyboard, printers, external modems, and handheld computers.
These devices connect to PCs via USB.The segment also includes peripherals that can be connected to laptops.
The demand for laptops and desktops is expected to increase due to the rising spending capabilities of people living in developing economies, evolving lifestyles, and growing online education.Moreover, the demand has increased in 2020 due to work-from-home policies adopted by several organizations.
The lockdown measures taken by various governments have resulted in the increased use of laptops for offering remote working to employees. Similarly, many governments have announced a temporary shutdown of schools and universities, which led to a rise in online education. Another significant factor propelling the PCs and laptops market’s growth is the developing internet infrastructure and the emergence of several OTT players. A shift among youngsters has been noticed from traditional TV to OTT, which is bolstering the demand for laptops. The growth in demand for PCs and laptops is resulting in increased demand for the computer peripherals segment, thereby driving the Europe USB device market.
The overall Europe USB device market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe USB device market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe USB device market. ADATA Technology Co., Ltd.; CORSAIR; Hewlett Packard Enterprise Development LP (HPE); Imation Corporation; Kingston Technology Company, Inc.; Micron Technology, Inc.; Samsung; SanDisk Corporation; Toshiba Corporation; and Transcend Information Inc. are among the players operating in the market.
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