The USB car charger market will register a CAGR of more than 1% by 2023

About this market Consumer electronics and communication devices constitute a major end-use area for USB car chargers. The sale of smartphones and wearables and IoT devices will have a direct impact on the demand for USB car chargers during the forecast period.

/EIN News/ -- New York, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global USB Car Charger Market 2019-2023" - https://www.reportlinker.com/p04103808/?utm_source=GNW
The speed of charging in smartphones as well as the availability of more than one charging sockets have been increasing with each incremental generation. The demand for USB car chargers is also expected to witness growth due to increasing adoption of smart wearables and IoT devices, such as smartwatches, fitness trackers, VR headsets, wireless sensors, and monitoring devices. Some of these devices are considerably smaller than a smartphone and suffer from short uptime issues. To keep these devices running for a long duration, USB car charger manufacturers are turning to power-efficient technology solutions, such as more than one output point and greater power output. Analysts have predicted that the USB car charger market will register a CAGR of more than 1% by 2023.

Market Overview
Rising penetration of smartphones and access to internet
Improved internet connectivity, along with rising consumer awareness, has contributed to a rise in the demand for on-the-go services such as ridesharing, car and bike pooling, online music streaming, thereby increasing the extensive usage of smart devices while travelling in a car that aids in battery drainage, and eventually driving the growth in the global USB car charger market during the forecast period.
Improved battery life in latest smartphones
The availability of smartphones with higher battery capacity and better battery backup poses a challenge to the growth of the global USB car charger market as the primary utility of USB car chargers will be diminished with smartphones lasting for longer hours on a single charge.
For the detailed list of factors that will drive and challenge the growth of the USB car charger market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p04103808/?utm_source=GNW

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