The North America USB device market is expected to grow from US$ 7,034.04 million in 2019 to US$ 14,733.72 million by 2027; it is estimated to grow at a CAGR of 9.9 % from 2020 to 2027. The increasing demand for USB products in automotive entertainment and infotainment systems accelerates the market growth. Consumer demand and new technologies impressively influence the marketability of innovative automotive products. Entertainment and infotainment systems, including audio systems, are among key components considered by consumer while buying automobiles. The paradigm shift in the consumer behavior regarding the driving experience, particularly in North America region, moves from basic to more advanced entertainment infotainment solution to contribute toward the car audio systems, which positively demands USB devices. Several companies across North America are providing car audio systems enabled with cutting-edge technologies, which require USBs connectivity feature. The growing inclination toward modern vehicle entertainment and infotainment systems is compelling auto manufacturers to provide a reliable connection between the car’s display and user’s smartphones or tablets. Thus, the USB device vendors catering to the automotive segment are designing USB products compatible with different automotive systems. At present, consumers expect vehicle entertainment and infotainment systems to respond instantly, without any delay. Thus, companies are focusing on offering robust USBs to ensure maximum functionality in automotive media hub. Thus, the escalating demand for USB devices in entertainment and infotainment systems is driving the overall North America USB device market growth.
Countries in North America, especially the US, are highly affected due to COVID-19 outbreak.North America is one of the most important regions for adopting and developing new digital systems owing to favorable government policies to boost innovation, a huge industrial base, and high purchasing power—especially in developed countries such as the US and Canada.
Hence, any negative impact on the growth of industries hinders the economic development of the region.The rapidly increasing number of COVID-19 confirmed cases and rising reported deaths in the country hinder both manufacturing and sale of USB devices.
The factory and business shutdowns across the US, Canada, and Mexico impact the adoption of the USB device market.The outbreak adversely affected the future business operations and financial performance of various market players in the region.
However, the implementation of work-from-home policy benefited the market, by leading to more sales. North America is a home to many manufacturing and technology companies, and thus the impact of the outbreak is anticipated to be quite severe till Mid-2021.
Based on device standard type, the USB 2.0 segment led the North America USB device market in 2019. The USB 2.0 standard was released in April 2000 as a successor of USB 1.1. The key difference between USB 2.0 and USB 1.1 was the speed of data transfer. In comparison with USB 1.1, which was capable to transfer data at a speed of 12 Mbps, USB 2.0 has a data transfer speed of 480 Mbps and thus, it was referred to as “High Speed” USB. Also, these USBs allowed faster charging of smartphones as well as more power to peripherals, including external drives, owing to improvements in data capability and power provision. The faster data rate of USB 2.0 prompted the establishment of USB flash drives. The data encoding in USB 2.0 was Unicode. The advantages of USB 2.0 such as faster data transfer, rapid charging of smartphones, and more data security increase its demand, which drive the growth of the North America USB device market for this segment.
The overall North America 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 North America 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 North America 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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25 pages •
By The Business Research Company
• Jul 2016
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