Global Magnetic Charging Cable Market to garner significant returns through 2027

November 18, 2021

As cited by the research report titled ‘Global Magnetic Charging Cable Market Size study, by String Length (Below 0.5 meters, 0.5 - 1 meter, 1 - 2 meters, Above 2 maters) by Price range (Below USD 10, USD 10 - USD 50, Above USD 50) by Sales Channel (Convenience Stores, Specialty Stores, Wholesalers & Distributors, Online Retail, Other) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global magnetic charging cable market is projected to grow with a strong CAGR to garner significant returns over 2021-2027.

Increasing technological advancements and widespread product adoption among the millennial population is a major factor driving global magnetic charging cable market growth. In addition, better durability of nylon braided magnetic charging cables as well as its ability to support all types of ports, including Android, iPhone, and USB type-C connectors is augmenting the overall market development.

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For the record, magnetic charging cable allows for safer use of phone while charging, as it prevents the charger cord from fraying due to accidental pulls. Moreover, magnetic charging cables enable fast charging of devices and allow quick data transfers as compared to normal charging cables.

Increasing smartphone users worldwide has augmented the demand for mobile phone accessories like magnetic charging cable, thus positively swaying the industry dynamics. Speaking of negatives, higher cost of magnetic charging cable as that of other charging cables is likely to hinder the market progression over the assessment period.

Based on string length, global magnetic charging cable industry is segmented into below 0.5 meters, 0.5 to 1 meter, 1 to 2 meters, and above 2 meters. Considering price range, the marketplace is categorized into below USD 10, USD 10 to USD 50, and above USD 50. Moving on to sales channel, the business space is bifurcated into convenience stores, wholesalers & distributors, specialty stores, online retail, and others.

The geographical analysis of the industry involves regions like North America, Asia Pacific, Europe, and Latin America. Experts cite that North America is likely to be a lucrative growth avenue over the forecast timeline 2021-2027, on account of technological advancements in this region mainly in the U.S.

Meanwhile, Asia Pacific market is anticipated to showcase significant growth over the projected timeline 2021-2027, owing to rising population and improving standard of living

Prominent players influencing the global magnetic charging cable industry dynamics are Terasako, Kanex Company, Hoco Technology (HK) Co. Ltd, Voltreton, Apple Inc., Volta Charging LLC, TOPK, Chargeasap, TekDeals, and FlashWire USA.

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