Industry Background:
Travel Adapter enables the electronics into walls with different types of sockets that can be used in different countries. Because not all countries using the same type of plug. These adapters also help manage electric current from 120V to 220 V.
According to AMA Research, the market for Travel Adapters is expected to register a CAGR of 7.5% during the forecast period to 2030. This growth is primarily driven by Increasing Use of Smartphones
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Million Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electrical Components & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Koninklijke Philips (Netherlands), Schneider Electric (France), Eagle Creek (United States), 3M (United States), Huntkey Enterprise Group (China), Xiaomi (China), Midea (China), Kensington (United States), MPAT Portable Appliance Testing (England) and Hugo Brennenstuhl Gmbh & Co (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2021, Royal Philipsa global leader in health technology, announced that it has completed the acquisition of BioTelemetry, Inc.a leading U.S.-based provider of remote cardiac diagnostics and monitoring. BioTelemetry’s financial results will be consolidated as part of Philips’ Connected Care business segment as of February 9, 2021
In June 2019, Zendure received more than USD 100,000 on the fifth day after the launch of the GaN Travel Adapter with an auto-resetting fuse.The global travel adapters market is highly competitive and consists of some key players. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Key vendors operating in the global market are also acquiring start-ups.
Influencing Trend:
Increase Demand for USB-A Ports
Market Growth Drivers:
Increasing Use of Smartphones and Increase Trend of Carrying USB Charged Devices While Travelling
Challenges:
increasing the growth of adapters of the market
Restraints:
The presences of Counterfeited Product in the market and hinder growth
Opportunities:
Strong Opportunity in the United States and United Kingdom Regions, Due To Increasing Travelling Rate
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Travel Adapters Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Travel Adapters Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Travel Adapters players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Travel Adapters Study Sheds Light on
The Travel Adapters Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Travel Adapters industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Travel Adapters industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.