WELLESLEY, MA--(Marketwired - October 25, 2016) - As more types of multifunctional devices enter the universal serial bus (USB) battery chargers global market, some of its application sectors are significantly shrinking. BCC Research reveals in its new report that photographic devices and entertainment devices are two applications experiencing five-year CAGRs in the negative double digits.
A universal serial bus connects the power source to the portable product by a cable, or bus. The cable may be a component of the battery charger, or it may connect to a battery charger built into a portable product or a battery within the portable product. USB battery chargers are used exclusively with portable battery-powered products. The batteries are invariably lithium ion or lithium-ion polymer batteries.
The global market for USB battery chargers is expected to grow from nearly $14.2 billion in 2016 to $18.5 billion in 2021, reflecting a five-year compound annual growth rate (CAGR) of 5.5%. The original equipment manufacturer (OEM) market should reach $6.7 billion and $8.1 billion in 2016 and 2021, respectively, demonstrating a five-year CAGR of 3.8%. Aftermarket as a segment should reach nearly $7.5 billion and $10.4 billion in 2016 and 2021, respectively, at a five-year CAGR of 6.9%.
The aftermarket is predicted to grow faster (a five-year CAGR of 6.9%) than the OEM market (a five-year CAGR of 3.8%) from 2016-2021. The lighting market sector is small, but has the highest growth rate of any sector with a five-year CAGR of 14.9% CAGR. This represents a new technology (i.e., LED flashlights) being mated to USB battery chargers. The e-cigarette is another new and controversial technology whose charge wholly depends on a USB battery. The e-cigarette USB battery charger market, which totaled $54 million in 2011, should reach $90 million and $165 million in 2016 and 2021, respectively.
Some once dominant market sectors are rapidly disappearing. Both value and shipments of entertainment devices, including the once popular digital music players, will shrink by a five-year CAGR of about -14.5% between 2016 and 2021. During the same period, photographic devices, including digital cameras, will experience a five-year CAGR of -33.2% in units shipped and a five-year CAGR of -29% in market value. In both instances, these sectors are disappearing because music playing and photography functions are available in multifunctional devices such as tablets and smartphones.
"A key trend has been convergence on fewer interchangeable designs," says BCC Research analyst Donald Saxman. "The result could produce a predominant interface design used to charge or power most portable battery-powered devices and many small electric devices."
Universal Serial Bus (USB) Battery Chargers: International Technologies and Market Potential (FCB042A) analyzes the market, including original equipment manufacturer (OEM) and aftermarket chargers (e.g., USB compatible external power supplies) and power banks. The report also examines driving forces, including government-mandated standardization, energy efficiency, and safety considerations. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.