According to the new market research report on the "Wired Interface Market by Component Type (USB (USB TYPE C, and Other USB TYPE), HDMI, Thunderbolt, and DisplayPort), Device, and Geography (North America, Europe, Asia Pacific, and Rest of the World) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach 8.78 billion units by 2023 from 6.51 billion units in 2018, at a CAGR of 6.2% between 2018 and 2023. The said market was valued at USD 17.87 billion in 2018 and is expected to reach USD 34.72 billion by 2023, at a CAGR of 14.2% between 2018 and 2023.
Wired interface technology deals with the method of transferring video or audio data, and power among consumer electronic devices using cables. Microchips and connectors are embedded in consumer electronic devices and act as a secure gateway for transferring data.
The number of smartphone users has increased gradually over the years owing to the affordable smartphones and increased connectivity in the market. The functionalities of smartphones are continually increasing, which require the need for fast charging and data speed transfer of these devices. Advanced USB technology would help smartphone users to overcome data transfer and charging challenges in the coming years. The introduction of USB Type C connectivity helps to transfer data as well as power at a high rate, which is better than wireless data transfer and charging solution.
USB to hold the largest market share by 2023
USB is expected to hold the largest share of the wired interface market throughout the forecast period. Universal Serial Bus (USB) drive is used to provide complete interoperability among existing hosts, hubs, and devices, certifying a trouble-free plug-and-play experience. It is a cost-effective, low-power consumption, and high-performance solution. It is used in almost all devices because of its low cost compared to other interfaces and has wide acceptability/compatibility with other devices.
Market for virtual reality to grow at the highest rate during the forecast period
The wired interface market for virtual reality application is expected to grow at the highest CAGR during the forecast period. The use of virtual reality HMDs is expected to increase because of gaming- and entertainment-related activities during the forecast period. Increase in adoption of virtual reality HMD would help to increase adoption USB and HDMI during the forecast period.
Asia Pacific to hold the largest share of the wired interface market during the forecast period
Asia Pacific is expected to hold the largest share of the wired interface market during the forecast period owing to the presence of Japan, China, and India, which have high disposable income. China, Japan, and South Korea are considered as manufacturing hubs for various end-user industries, such as semiconductors, automotive, and consumer electronics including home appliances, smartphones, and computer and peripheral devices. Therefore, these countries hold immense potential for wired interface devices.
The report also profiles the most promising players in the wired interface market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of market players. Key players in this market are Molex, Inc. (The US), Amphenol Corporation (The US), Japan Aviation Electronics Industry, Ltd. (Japan), TE Connectivity Ltd. (Switzerland), STMicroelectronics N.V. (Switzerland), NXP Semiconductors N.V. (The Netherlands), Microchip Technology Inc. (The US), Texas Instruments Inc. (The US), Cypress Semiconductor Corp. (The US), Rohm Co., Ltd. (Japan), Hirose Electric Co., Ltd. (Japan), ON Semiconductor Corporation (The US), Analog Devices Inc. (The US), Diodes Inc. (The US), Murata Manufacturing Co. Ltd. (Japan), Vishay Intertechnology, Inc. (The US), Silicon Laboratories Inc. (The US), Maxim Integrated Products, Inc. (The US), CUI, Inc. (The US), and Yamaichi Electronics Co.,Ltd. (Japan).
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