According to the research report titled ‘Global Magnetic Charging Cable Market Size study, by String Length (Below 0.5 meters, 0.5 - 1 meter, 1 - 2 meters, Above 2 maters) by Price range (Below USD 10, USD 10 - USD 50, Above USD 50) by Sales Channel (Convenience Stores, Specialty Stores, Wholesalers & Distributors, Online Retail, Other) and Regional Forecasts 2021-2027’, available with MarketStudyReport,  global magnetic charging cable market is expected to grow at a stable rate during 2021-2027.
 

As per the report findings, growing preference of millennials towards technologically advanced gadgets like magnetic cables, and favorable product features such as durability provided by nylon braided cables are driving the growth of the global magnetic charging cable market.
 

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For the uninitiated, magnetic cables ensure safer usage of mobile phones while charging as they prevent the cable from ripping apart due to accidental pulls. These cables enable quick data transfer and can charge devices at a faster speed as compared to conventional cables.
 

Moreover, the ability of the cable to support all kinds of ports including iPhone, Android and Type-C USB connectors and the increasing number of smartphone users globally will boost the demand for magnetic cables in the upcoming years.
 

However, the high price of magnetic cables as opposed to other charging cables may hinder the growth of the industry during the aforementioned timeframe.
 

Moving on to the regional landscape, worldwide magnetic charging cable market spans across North America, Europe, Asia Pacific, and Latin America. Among these North America market is anticipated to bolster significantly over 2021-2027, owing to rapid advancements in technology, especially in the U.S. Meanwhile, Asia Pacific industry is anticipated to record a voluminous growth over the analysis period, driven by a rise in population levels and higher standards of living.
 

Speaking of the competitive framework, the research literature conducts a deep-dive evaluation of major companies operating in this within the business sphere. The key players evaluated in the global magnetic charging cable market report within the parameters of financial performance and recent developments are Chargeasap, Hoco Technologies (HK) Co. Ltd., TekDeals, TOPK, FlashWire USA, Volta Charging, LLC, Apple, Inc. and Terasako.