The Europe USB device market is expected to grow from US$ 9560.02 million in 2021 to US$ 18097.76 million by 2028; it is estimated to grow at a CAGR of 9.5 % from 2021 to 2028.
The UK, Germany, France, Italy, and Russia are major economies in Europe. Rising demand for USB products in automotive entertainment and infotainment systems is expected to accelerate the Europe USB device market. Consumer demand and new technologies impressively influence the marketability of innovative automotive products. Entertainment and infotainment systems, including audio systems, are among key components considered by consumer while buying automobiles. The paradigm shift in the consumer behavior regarding the driving experience, particularly in European countries, moves from basic to more advanced entertainment infotainment solution to contribute toward the car audio systems, which positively demands USB devices. Several companies across the Europe are providing car audio systems enabled with cutting-edge technologies, which require USBs connectivity feature. The growing inclination toward modern vehicle entertainment and infotainment systems is compelling auto manufacturers to provide a reliable connection between the car’s display and user’s smartphones or tablets. Thus, the USB device vendors catering to the automotive segment are designing USB products compatible with different automotive systems. At present, consumers expect vehicle entertainment and infotainment systems to respond instantly, without any delay. Thus, companies are focusing on offering robust USBs to ensure maximum functionality in automotive media hub. Thus, the escalating demand for USB devices in entertainment and infotainment systems is driving the overall Europe USB device market growth.
Further, in case of COVID-19, several countries across Europe were highly affected. Businesses in the region face severe economic difficulties as they either suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region witnessed an economic slowdown in 2020 and most likely to witness till Mid-2021. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens. Several European countries represent a major market for USB device adoption and growth due to growing automotive infotainment systems and rising use in smart devices. However, due to COVID-19, the manufacturing of various electronics components used for USB devices has seen a sharp decline in European countries. The market was under stress in 2020, and it will require time to stabilize. The disruptions in raw materials and electronic component supply from China will further aggravate the manufacturing industries in this region. All these factors are expected to have a direct impact on USB device market growth in European countries. Russia, Italy, Germany, UK, and France USB device markets are anticipated to see the worst impact in 2020 and likely in 2021.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe USB device market. The Europe USB device market is expected to grow at a good CAGR during the forecast period.
Europe USB Device Market Segmentation
Europe USB Device Market – By Device Standard Type
Europe USB Device Market – By Product
Europe USB Device Market – By Connector Type
Europe USB Device Market – By Applications
Europe USB Device Market, by Country
Europe USB Device Market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 9560.02 million |
| Market Size by 2028 | US$ 18097.76 million |
| CAGR (2021 - 2028) | 9.5% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Device Standard Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe USB Device Market is valued at US$ 9560.02 million in 2021, it is projected to reach US$ 18097.76 million by 2028.
As per our report Europe USB Device Market, the market size is valued at US$ 9560.02 million in 2021, projecting it to reach US$ 18097.76 million by 2028. This translates to a CAGR of approximately 9.5% during the forecast period.
The Europe USB Device Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe USB Device Market report:
The Europe USB Device Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe USB Device Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe USB Device Market value chain can benefit from the information contained in a comprehensive market report.
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