USB Wall Socket Market Size, Share, Growth, and Industry Growth by Type (Two USB Ports, Four USB Ports, and Others), By Application (Residential Application, Commercial Application, and Residential Application), Regional Forecast To 2031

Updated On: 01 April 2024

USB Wall Socket Market REPORT OVERVIEW

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The global USB wall socket market size was USD 419.4 million in 2022 and is projected to touch USD 673.27 million by 2031, exhibiting a CAGR of 5.4% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

USB wall socket, also known as wall USB outlets or USB charger receptacle, is a wall socket that has USB port in it. It converts AC supply of the outlet into DC and then provides the specific voltage to the device. It allows the user to charge electronic devices such as tablet, smartphone, laptop, etc. It comes with or without power adapter or computer. It is a mounted plug sockets with built-in USB ports. It provides a place in a wiring system where current can be obtained to run electrical devices. It is more convenient to use and increases the type of charging.

The growing demand for USB outlet is expected to grow owing to rapid urbanization. Increasing digitalization is expected to create a demand for such semiconductor and electronics equipment. Advancements in technology has given rise to new and better electronic smart devices which has created the demand for wide range of wall USB outlets. Heaving demand for consumer electronics is expected to drive the market demand. Expansion of urbanization is expected to drive market development. Growing demand for consumer electronics and sales through online e-commerce channels is anticipated to drive market growth during the forecast period.   

COVID-19 Impact: Halt on Electronics Industry to Impede Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global USB wall socket market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic had a significant impact on the electronics industry as there was closure on the sale of electronics. Halt on the production in the manufacturing plants led to affecting of demand for electronics and simultaneous product. Recovery of the market is expected owing to the sale of electronics such as laptops, smartphones, and other devices. After the pandemic consumers are multipurpose, lightweight, and have safety assurance.

LATEST TRENDS

"Expanding Urbanization to Support Market Development"

The global USB wall socket market growth is proposed to drive due to growing urbanization. One of the reasons, the market is expected to have opportunities. Rapid urbanization has led to digitalization and technological advancements which has propelled the spending on consumer electronics. Improved functionality and advanced models of smartphones require continuous Internet connection. This is enabled owing to the increase in the disposable income and also led to increase in the power consumption. Demand for USB chargers for electronic gadgets is expected to create the demand for wall sockets. Such trend expansion of urbanization is expected to pose an opportunity for market growth during the forecast period.

RESTRAINING FACTORS

"Presence of Counterfeit Alternatives to Hamper Product Demand"

There are a number of factors that can push the growth of the USB wall socket market. Restraining factors such as presence of counterfeit USB wall sockets alternatives. One of the limiting factors is presence of counterfeit alternatives of the product. Increase in the power consumption has a negative impact on the demand for such wall sockets. Such factors are anticipated to restrict and limit the market growth.   

USB Wall Socket Market SEGMENTATION

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• By Type

Based on type; the market is divided into two USB ports, four USB ports, and others.

Two USB ports are the leading part of the type segment.

• By Application

Based on application; the market is divided into residential application, industrial application, and commercial application.

Residential application is the leading part of the application segment.

DRIVING FACTORS

"Heaving Demand for Consumer Electronics to Assist Product Demand"

The global USB wall socket market growth is projected to develop due to surge in the demand for consumer electronics. Increasing digitalization has led in the increase for advanced electronics such as electronic gadgets, laptops, tablets, etc. is expected to increase the demand for the product. Increasing competition amongst manufacturers in the market due to strong presence in the region. Increasing adoption of innovative electric gadgets for daily life is one of the major factors for escalating the demand for durable USB chargers. USB chargers offers a single power source Growing adoption of advanced electronics gadgets is anticipated to drive the market size and provide profitable opportunities for the market.

"Penetration of Smartphones to Inflate Market Growth"

Penetration of smartphones in the market is expected to drive the product demand. Increasing usage of smartphones users is anticipated to fuel the market growth. Adoption of the smartphones Growing advancements in the smartphones has led to creation of USB chargers which has led to the creation of technically inclined sockets as well. Such penetration of smartphones is anticipated to drive the market growth during the forecast period.

USB Wall Socket Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to Urbanization"

North America holds the largest part of the global USB wall socket market share due to increasing urbanization. There has been increasing usage of smartphones, laptops, and other electronic devices is expected to drive the demand for the market. Technological advancements and digitalization in the developing countries is estimated to bring maximum sales. Presence of major market players in the region is anticipated to fuel the market share. Presence of large number of manufacturing facilities in countries is expected to drive the market share. Countries are anticipated to contribute maximum to the facilitate the share of the market. Companies in the region using online channels to reach and provide to the consumers which is projected to drive the demand for the product.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Leviton (U.S.)
• Legrand (France)
• Eaton (Ireland)
• Hubbell (U.S.)
• Jasco Products (U.S.)
• Lutron Electronics (U.S.)
• TopGreener (U.S.)
• NewerTech (U.S.)
• Maxxima (U.K.)
• Xtreme Cables (U.S.)
• BG Electrical (U.K.)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.