USB (Universal Serial Bus) refers to any device that can store data in flash memory with a USB integrated interface. A USB drive is also known as USB Key, USB stick, USB flash drive and other names. USB drives are quite small in size and most weigh less than 35 gram. USB connections are denoted with a certain symbol around the connector and port. The high demand for compact storage devices is one of the key factors driving the growth of the USB devices market.

The market is witnessing an increasing demand for storage devices with high capacity within small sizes as the need for data storage is a rising issue for noncommercial consumers and organizations, Technavio reports in their “USB Devices Market – Forecast and Analysis 2022-2026”. USB devices are  reliable as they have a shock absorb rating of 200Gs and can retain data for long periods. They can also be reprogrammed numerous times. USB devices are predominantly used for additional storage in handheld devices such as smartphones, tablets, cameras, and camcorders. These serve the purpose of high storage capacity and compact size.

The emergence of cloud storage services will challenge the growth of the USB devices market during the forecast period. Cloud services allow for the storage of large data sets of any type. They offer more benefits than USB devices, such as the ability to retrieve data from virtually anywhere and disaster recovery and backup strategies. Thus, the emergence of cloud storage services will drive the growth of the market.

Key Market Trends

The increasing need of high capacity solution is another factor supporting the USB devices market share growth.With the increased Internet penetration across the world, the number of connected things is expected to be tripled by 2025. This will increase the amount of data transactions, ultimately fueling the need for storage devices with high capacity.

USB devices manufacturers are developing models with high storage capacities and at par with HDD and USB flash drives. Vendors are providing USB device s with high storage capacity as young customers prefer such USB devices due to the rising popularity of social networking applications, such as WhatsApp, Instagram, and Facebook, which consume a large space. Thus, the increasing need for high capacity solution will further drive the growth of the market.

USB devices Market Segmentation

The USB devices market report is segmented by type into USB 2.0, USB 3.0, and USB 4.0. The USB 2.0 segment will have significant market share growth. Devices that adhere to the USB 2.0 standard have the ability to transmit data at high speed. Some features of the USB 2.0 are improved performance and backward compatibility.

By geography, the market has been segmented into APAC, North America, Europe, South America, and MEA. APAC will be the leading region with 40% of the market’s growth during the forecast period. China and Japan are the key countries for the USB devices market in APAC.

Most important USB device Companies

Key USB Devices Market Challenge

The emergence of cloud storage services will be a major challenge for the USB devices market during the forecast period.Consumers are increasingly choosing the cloud for their storage needs as it allows for the storage of large data sets of any type. Cloud storage offers more benefits than USB device, such as the ability to retrieve data from virtually anywhere, collaborate more effectively by accessing the same data and tools, and disaster recovery and backup strategies, which may restrict the growth of the market on a large scale during the forecast period. Cloud storage service providers such as Dropbox, Yandex Disk, Media Fire, and Mega now provide clients with free cloud storage, reducing the need for USB devices. Thus, the emergence of cloud storage services will drive the growth of the market.