According to the research report titled ‘Global USB Charger Market Size study, by Product Type (USB A Type, USB B Type, USB C Type), by Charger Type, (Wall Chargers, Portable Power Bank/Docking System/Alarm Clock, Car Charger), by Port (One, Two, Three, Four), by Distribution Channel (Online, Offline), by Application (Home Use, Car Use, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global USB charger market was valued at USD 26.4 billion in 2019 and is expected to grow with a CAGR of 6.3% during 2020-2027.
 

Increasing shipments of smartphones and surging adoption of consumer electronics due to improved purchasing power are expected to drive global USB charger market growth over the coming years. In fact, as per Statista, global smartphone shipments were recorded at 1.3 billion in 2014 which then reached 1.6 billion in 2017.
 

The USB charger converts AC power input into 5 volt DC output in order to charge consumer electronics. The ampere rating of USB charger ranges from 0.7 to 2.4 amperes. It detects whether the power input is AC unit or a computer system and draw power accordingly.
 

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Growing prevalence of COVID-19 has slumped the production of USB chargers due to temporary shutdown of manufacturing units and unavailability of adequate raw material, hence negatively impacting the consumer electronics industry. Restricted movement of people, goods, and services to prevent the spread of novel coronavirus has plummeted the product demand, thereby restraining the market growth. Further, availability of counterfeit products and fluctuating raw material costs are expected to hamper the industry outlook during 2020-2027.
 

Based on product type, global USB charger market is segmented into A type, B type, and C type. With regards to the charger type, the industry is segmented into car charger, alarm clock/docking system/portable power bank, and wall charger.
 

With respect to the port scope, the market is classified into one, two, three, and four. As per distribution channel, the market is bifurcated into online and offline. While the application spectrum of USB charger industry is divided into car use, home use and others.
 

Regionally, USB charger market in North America collected substantial revenues in the recent past, mainly due to high penetration for smartphones, growing preference for the latest charging technology, and evolving lifestyles.
 

Whereas, Asia-Pacific USB charger market is anticipated to exhibit strong growth trends during 2020-2027, owing to factors such as rising demand for advanced smartphones and presence of major companies in the region.
 

Key players operating in global USB charger market include Inter IKEA Systems B.V., Cyber Power Systems (USA) Inc., AT&T Intellectual Property, Baccus Global LLC, Eaton Corporation, Xiaomi, MIZCO International Inc., Twin-Star International Inc., Verizon Communications Inc., and Just Wireless.