The wired interface market is projected to grow at a CAGR of 10.03% during the forecast period to reach US$37.105 billion by 2027, from US$19.004 billion in 2020.
The wired interface is the physical link between the devices that allows for high-speed data transfer, streaming, and other types of communication. The wired interface is utilized to connect a mouse, monitor, PCs, power supplies, video games, and other electronic devices. It is very efficient since there is no signal interference, and it has a considerable bandwidth for a low price. It is often used in conventional workplaces, such as government agencies and educational institutions. The wired interface industry will expand as the world's reliance on electronics such as smartphones, computers, projectors, and other devices grow. Because of escalating security concerns and the increased data transferability benefits that it delivers, the demand for wired interface technology will increase.
A significant reason driving the growth of the wired interface market is the increasing use of smartphones, along with the expansion of automotive infotainment.
Individuals' growing use of smartphones is a vital aspect driving the worldwide wired interface market forward. As per the IDC Worldwide Quarterly Mobile Phone Tracker, smartphone shipments are predicted to yield 1.38 billion units in 2021, up 7.7% from 2020. This trend is predicted to continue into 2022, when exports will total 1.43 billion, up 3.8 percent year over year. According to Ericsson, the number of smartphone subscriptions worldwide has surpassed six billion, with several hundred million more predicted in the next years. The nations with the most smartphone owners are India, China, and the United States. The number of smartphone users is expected to reach 7516 million by 2026. This increases demand for USB Type C wired interface technology, popular among Android smartphones. The market is driven by the continued rise of automotive infotainment. Automotive infotainment is a hardware and software platform that allows a car to receive audio and video. The rise of the wired network (HDMI, USB) will be accelerating in tandem with the growth of infotainment. For its next-generation infotainment techniques, Mitsubishi Motors Corporation, Nissan Motor Co. Ltd., and Groupe Renault will utilize Google Inc.'s Android functioning system (OS) from 2021. This boosts the market for USB Type-C wired interface technology even more. In compact settings, the wired interface is dependable and efficient. The market is projected to experience an increase in the usage of wired connecting devices due to the inadequate speed and data streaming capacity of wireless devices. The expanding use of wired interfaces for drones, as well as the preamble of the wired interface in numerous applications, are fueling the wired interface market's expansion. For instance, according to drone registration statistics, there were 1,782,479 drones registered in the United States as of January 2021.
However, the global wired interface market's growth may be hampered by the availability of wireless interface devices, customers' growing preference for wireless equipment, and product certification.
By region, North America and the Asia Pacific are expected to hold a notable share in the global wired interface market during the forecast period.
North America is a center for technological innovation and a pioneer in adopting new technology. The market in North America is being driven by factors such as the existence of significant corporations, rising consumer expenditure, and the expanding adoption of technological advancements. Connecting smartphones and devices to the car's infotainment system provide access to a variety of information and entertainment options. This allows for wired interface platforms, such as USB Type C and HDMI. As of March 31, 2019, more than 1.18 million electric vehicles were on the road in the United States, according to the Edison Electric Institute. Moreover, according to the ICCT, hundreds of new EV models will be produced with over USD 200 billion in investments between now and 2025. Additionally, as the popularity of gaming consoles develops in the United States, so does the demand for HDMI interfaces for console players. In the United States, the Nintendo Switch and Switch Lite have sold over 6.2 million units as of December 2019, which is the largest number of units sold in comparison to other players.
In terms of revenue, the Asia Pacific market will also account for a significant portion of the market throughout the projection period. The presence of a significant number of electronic device manufacturing enterprises in this region is a crucial element driving the target market's growth. High disposable income and the expanding automotive and consumer electronics industries are further driving the wired interface market in the Asia Pacific. For example, the Government of India's Digital India program is a flagship initiative aiming at converting India into a digitally enabled society. In addition, between 2019 and 2020, India implemented the PLI Scheme, which offers a 6-4 percent bonus on incremental sales of manufactured products for five years. Such government actions are projected to increase the country's smartphone market, accelerating the expansion of wired interface technology.
As a result of the pandemic, many governments have imposed lockdowns and closed down enterprises except for vital commodities and services. In recent months, demand for USB wired interfaces has decreased due to consumers' choice of cloud storage. According to a recent survey conducted by the National Association of Manufacturers (NAM), around 80% of US manufacturers believe that the financial impact of a pandemic will be significant over time. COVID-19 will have a negative influence on the semiconductor industry as a whole due to its impact on demand and the supply chain. For connecting a microprocessor (MPU) or microcontroller (MCU) system in electronic devices, USB-type interfaces are commonly built of brass, which is a copper-zinc alloy with other IC components.
|Market size value in 2020||US$19.004 billion|
|Market size value in 2027||US$37.105 billion|
|Growth Rate||CAGR of 10.03% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Molex Incorporated, TE Connectivity Ltd., STMicroelectronics N.V., ON Semiconductor Corporation, Analog Devices, Inc., Microchip Technology Inc., Texas Instruments Incorporated, Cypress Semiconductor Corporation, ROHM Co., Ltd., Amphenol Corporation|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the wired interface market size by 2027?
A1. The wired interface market is projected to reach a total market size of US$37.105 billion by 2027.
Q2. What is the size of the global wired interface market?
A2. Wired Interface Market was valued at US$19.004 billion in 2020.
Q3. What are the growth prospects for the wired interface market?
A3. The global wired interface market is projected to grow at a CAGR of 10.03% over the forecast period.
Q4. What factors are anticipated to drive the wired interface market growth?
A4. The increasing use of smartphones along with the expansion of automotive infotainment is a major reason driving the wired interface market growth.
Q5. Which region holds the largest market share in the wired interface market?
A5. North America and the Asia Pacific are expected to hold a notable share in the global wired interface market during the forecast period.
TE Connectivity Ltd.
ON Semiconductor Corporation
Analog Devices, Inc.
Microchip Technology Inc.
Texas Instruments Incorporated
Cypress Semiconductor Corporation
ROHM Co., Ltd.
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