USB-C Charging Cable Global Market Opportunities and Strategies to 2033

This report describes and explains the USB-C charging cable market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global USB-C charging cable market reached a value of nearly $2.97 billion in 2023, having grown at a compound annual growth rate (CAGR) of 11.99% since 2018. The market is expected to grow from $2.97 billion in 2023 to $6.86 billion in 2028 at a rate of 18.25%. The market is then expected to grow at a CAGR of 16.14% from 2028 and reach $14.51 billion in 2033.

Growth in the historic period resulted from the rise in demand for consumer electronics, increased internet penetration, rise in demand for wearable technology and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include emergence of advanced wireless charging technology.

Going forward, the increasing adoption of smartphones, expansion of e-commerce, favorable government initiatives, rapid urbanization and rising disposable income will drive the market. Factors that could hinder the growth of the USB-C charging cable market in the future include shortage of skilled professionals.

The USB-C charging cable market is segmented by port type into USB 2.0, USB 3.0, USB 3.1, USB 3.2 and other port. The USB 3.1 market was the largest segment of the USB-C charging cable market segmented by port type, accounting for 28.32% or $841.13 million of the total in 2023. Going forward, the USB 3.2 segment is expected to be the fastest growing segment in the USB-C charging cable market segmented by port type, at a CAGR of 24.14% during 2023-2028.

The USB-C charging cable market is segmented by industries into consumer electronics, automotive, media and entertainment, telecommunications, healthcare and other industries. The consumer electronics market was the largest segment of the USB-C charging cable market segmented by industries, accounting for 50.01% or $1.48 billion of the total in 2023. Going forward, the telecommunications segment is expected to be the fastest growing segment in the USB-C charging cable market segmented by industries, at a CAGR of 22.57% during 2023-2028.

The USB-C charging cable market is segmented by protocols into DisplayPort, HDMI, MHL, Thunderbolt and other protocols. The DisplayPort market was the largest segment of the USB-C charging cable market segmented by protocols, accounting for 47.73% or $1.41 billion of the total in 2023. Going forward, the Thunderbolt segment is expected to be the fastest growing segment in the USB-C charging cable market segmented by protocols, at a CAGR of 23.46% during 2023-2028.

The USB-C charging cable market is segmented by application into smartphones and tablets, personal computers and laptops, digital cameras, media players, TV and other applications. The smartphones and tablets market was the largest segment of the USB-C charging cable market segmented by application, accounting for 51.12% or $1.51 billion of the total in 2023. Going forward, the personal computers and laptops segment is expected to be the fastest growing segment in the USB-C charging cable market segmented by application, at a CAGR of 20.27% during 2023-2028.

North America was the largest region in the USB-C charging cable market, accounting for 32.82% or $974.81 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the USB-C charging cable market will be Asia-Pacific and North America, where growth will be at CAGRs of 19.64% and 19.15% respectively. These will be followed by Africa and the Middle East, where the markets are expected to grow at CAGRs of 18.56% and 18.90% respectively.

The global USB-C charging cable market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 6.17% of the total market in 2023. Belkin International, Inc. was the largest competitor with a 1.26% share of the market, followed by UGREEN with 1.13%, AUKEY with 1.04%, Anker Innovations Co., Ltd. with 0.75%, Apple Inc. with 0.54%, Amazon.com, Inc. (AmazonBasics) with 0.39%, Samsung Electronics Co.Ltd. with 0.31%, Analog Devices Inc. with 0.29%, STMicroelectronics N.V. with 0.27% and Microchip Technology Incorporated with 0.20%.

The top opportunities in the USB-C charging cable market segmented by port type will arise in the USB 3.1 segment, which will gain $1.17 billion of global annual sales by 2028. The top opportunities in the USB-C charging cable market segmented by application will arise in the consumer electronics segment, which will gain $2.05 billion of global annual sales by 2028. The top opportunities in the USB-C charging cable market segmented by industries will arise in the smartphones and tablets segment, which will gain $2.04 billion of global annual sales by 2028. The top opportunities in the USB-C charging cable market segmented by protocols will arise in the DisplayPort segment, which will gain $1.95 billion of global annual sales by 2028. The USB-C charging cable market size will gain the most in the USA at $1.03 billion.

Market-trend-based strategies for the USB-C charging cable market include introduction of bio-based USB-C charging cables for sustainable innovation, development of fast charging USB-C charging cables to meet increasing consumer demand for quicker charging solutions, focus on advanced technological integration to enhance product offerings and strategic partnerships and collaborations among market players.

Player-adopted strategies in the USB-C charging cable market include focus on expanding market presence through strategic partnerships with local distributors, focusing on strategic partnerships to enhance product capabilities and customer experience through collaborative innovation and enhancing user experience through high-performance, versatile and aesthetically designed accessories.

To take advantage of the opportunities, the analyst recommends the USB-C charging cable companies to focus on developing innovative bio-based cables, focus on expanding fast charging capabilities and sustainable materials, focus on advancing technological integration for growth, focus on USB 3.2 segment for optimal growth, focus on thunderbolt segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships to expand distribution channels, provide competitively priced offerings, focus on leveraging targeted digital marketing campaigns, invest in educational content, focus on telecom companies and focus on targeting personal computers and laptops users.