The SAM USB device market is expected to grow from US$ 2,324.49 million in 2019 to US$ 3,899.75 million by 2027; it is estimated to grow at a CAGR of 6.9 % from 2020 to 2027.
The rise in popularity of smart homes across SAM accelerates the market growth.The demand for smart homes has increased substantially across SAM over the past few years due to the rising penetration of smartphones and other smart devices.
Smart homes are gaining huge popularity due to the development of the residential sector in different countries.The building owners and homeowners are more aware of the effectiveness of automated controls in their premises, which make them more inclined toward the integration of smart devices.
Growing number of internet users, increasing consumer disposable income in developing countries, and rising significance of home monitoring are also propelling the demand for smart homes.The smart home industry is dominated by offerings such as security cameras, smart TV, and smart speakers.
There has been huge adoption of smart TVs in SAM owing to the the escalating popularity of the streaming media options. With the surge in manufacturing of smart TVs by consumer electronics giants across SAM, the demand for USB devices is also soaring. Therefore, with the growing inclination toward smart home technologies, USB device vendors are further striving to meet the dynamic demands from users, which, in turn, would boost the growth of the SAM USB device market in the coming years.
In case of COVID-19 outbreak, Brazil has recorded the highest number of confirmed cases, followed by other countries such as Colombia, Argentina, Peru, and Chile.The governments of various countries in SAM are imposing several measures, such as lockdowns, trade bans, and travel restrictions, to protect people and contain the spread of novel coronavirus in the region.
These measures are expected to have a direct impact on the region’s economic growth as the region face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America.The sharp decline in the sales of electronics components in the region due to lockdown is expected to directly impact the growth of the USB device market in this region.
In addition, the online and retail distribution channel are witnessing a negative impact due to disruptions in supply chain and the unavailability of raw materials. The sharp decline in business activities and product sales is expected to directly affect the growth rate of the USB device market in SAM till Mid-2021.
Based on connector type, the type B segment led the SAM USB device market in 2019.The type B connector is intended to be used on USB peripheral devices.
It is an ‘upstream’ connector, and a majority of USB applications need an A-B cable.The key reason for the development of type B connector is to enable the connection of peripheral devices eliminating the risk of connecting two host computers.
Although, it is still used today, the availability of more sophisticated USB connectors is phasing out the demand for type B connectors. The advantages of type B connector such as prevention of accidental hub loops, more security of data, less risk of connecting two host computers, and wider use in peripheral devices are expected to increase its demand in coming years.
The overall SAM 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 SAM 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 SAM 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 SAM USB device market.
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