Overview
The USB 3.0 Market size is forecast to reach $ 6.7 billion by 2025 growing at a CAGR of 20.7% during the forecast period 2020-2025. Increase in data volumes being transferred are the key driving factors for USB 3.0 market. As the need for faster data transfer rates arise due to increasing data volumes and the growing demand for faster functioning technology, users are likely to adopt USB 3.0 as a replacement to conventional data transfer methods. Digital data is not only increasing in numbers, but also increasing in virtual size due to quality enhancements. Quality enhancements are increasing the virtual sizes of most popular digital data such as audio, video and images. Owing to this vast rise in digital data volumes being transferred and processed on personal devices, consumers are forced to buy products capable of enabling the faster and better transfer and processing of data, driving the demand for USB 3.0 techs.
Key takeaways
The rising demand for high performance connection between the PC and other sophisticated electronic devices to fuel the growth of USB 3.0 market.
Robust global sales of smartphones to drive demand for USB 3.0 for convenient transfer and sharing of content.
Proliferation of tablet PC’s and smartphones and increasing application of USB 3.0 universal docking chipsets in 4K monitors as well as in camera based applications in medical imaging is also propelling the growth of the USB 3.0 market.
Increasing competition from Thunderbolt & Thunderbolt 2 interface technologies are likely to create hurdles for the USB 3.0 market.