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The connectors market size is forecast to increase by USD 26.67 billion at a CAGR of 6.48% between 2023 and 2028. The connector market is experiencing significant growth due to the miniaturization of electronic devices and the increased adoption of automotive electronics. The trend toward high-speed data connectors is driving market demand, as these connectors enable faster data transfer and improved performance in various applications. Furthermore, the reliability and durability issues associated with traditional connectors have led to the development of hardy connectors that can withstand harsh environments and provide longer lifetimes. Additionally, the emergence of 5G technology networks is expected to fuel market growth, as these networks require advanced connectors to support high-speed data transfer and low latency. Overall, the connector market is poised for substantial growth, driven by these key trends and the need for advanced, reliable, and miniaturized connectors in various industries.
The connector market is experiencing significant growth in various industries, particularly in the telecommunications sector. The demand for connectors in telecommunications is driven by the increasing use of RCA cables and quick connectors in smartphones and electrical appliances. The telecommunications sector's shift towards 5G technology is also fueling the growth of the connector market. The connector market caters to diverse applications, including radar equipment, infotainment systems in vehicles, and electronic components in electric vehicles. The OSI model's physical interface layer requires strong and reliable connectors for seamless data transfer. Safety and security are crucial factors in the connector market, especially in applications such as airbags and GPS navigation systems.
Moreover, the high-speed data connectors are essential for 5G networks, and miniaturized connectors are in demand for the increasing miniaturization of electronic devices. Electronic fabrication processes require connectors for assembling electronic components. The connector market offers various types of connectors, including quick connectors, miniaturized connectors, and high-speed data connectors, to cater to the specific requirements of different industries.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The automotive segment is estimated to witness significant growth during the forecast period. In the realm of technology, connectors play a crucial role in enabling seamless communication between various components in applications such as radars, communication systems, consumer electronics, and more. The automotive industry is witnessing significant growth in the use of connectors, driven by advancements in automotive technologies like autonomous vehicles, electric vehicles, and sophisticated cruise controls. The shrinking size of devices, including audio controls, Anti-lock Braking Systems (ABS), and navigation systems, necessitates the adoption of reliable, standard, and cost-effective connectors. Miniature connectors and intelligent bus technologies have emerged as game-changers, replacing traditional cable connections due to their size and efficiency.
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The automotive segment was valued at USD 20.34 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 58% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in the Asia Pacific (APAC) region is projected to expand significantly during the forecast period. Two primary drivers fueling this growth are China and India, which are emerging as major markets for connectors. China is a significant global manufacturer of connectors, contributing substantially to the overall the market. Both countries are undergoing rapid industrialization and urbanization, leading to substantial economic growth. The increasing purchasing power in these nations has resulted in heightened demand for various product categories, such as automotive, consumer electronics, and communication systems. For instance, China's Gross National Income per capita rose from USD 16,730 in 2019 to USD 17,200 in 2020. Moreover, miniature connectors, PCB connectors, patch cords, and other connector types are in high demand for applications in radars, communication systems, and consumer electronics in the APAC region.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Miniaturization of electronic devices is the key driver of the market. The market has witnessed significant growth in the telecommunications sector due to the increasing demand for advanced electronic devices such as smartphones and electrical appliances. With the miniaturization of these devices, there is a growing need for compact and reliable connectors like Quick connectors. The RCA cable connector, for instance, has been a long-standing solution for transmitting audio and video signals in the telecommunications industry. Technological advancements have led to the development of smaller and more efficient components, including integrated circuits, which have reduced the size of electronic devices. This trend is expected to continue as manufacturers strive to meet customer demands for smaller, cost-effective, and high-performance devices. The market is anticipated to grow steadily in response to these trends.
Increased adoption of automotive electronics is the upcoming trend in the market. The market is witnessing significant growth in the telecommunications sector, particularly in applications such as RCA cables for audio and video transmission. Quick connectors are gaining popularity in the market due to their ease of use and efficiency in various applications, including smartphones and electrical appliances. The automotive industry is also experiencing a wave in the adoption of advanced electronic systems, leading to an increased demand for connectors in vehicles. These systems include driver assistance, audio controls, cruise control, diagnostic systems, and infotainment systems. Furthermore, regulatory requirements for reducing carbon emissions have fueled the demand for emission sensors, which in turn necessitate the use of connectors. Overall, the market is poised for strong expansion in the coming years.
Reliability and durability issues associated with connectors is a key challenges affecting the market growth. Connectors play a crucial role in the telecommunications industry, particularly in transmitting signals and power to various devices such as smartphones and electrical appliances via cables like RCA. However, ensuring the reliability and durability of these connectors remains a significant challenge. Exposure to harsh environmental conditions, including voltage fluctuations, temperature extremes, and mechanical stresses, can cause damage and failures. Common issues include broken latches, separated mating joints, and overheating due to misalignments. These problems, often resulting from inadequate design, compromise both the device's safety and the user's well-being. Addressing these challenges is essential for the market's growth, as the consequences of connector failure can be severe.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.: The company offers connectors such as backplane connectors, boardmount connectors, and storage connectors.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market in the telecommunications sector is experiencing significant growth due to the increasing demand for high-speed data transmission in various applications. RCA cables and quick connectors are commonly used in telecommunications, while smartphones and consumer electronics rely on miniature connectors like PCB connectors and patch cords. The communication systems sector also utilizes powerful connectors for radar equipment and IT14 series connectors for electrical appliances and vehicles. In the telecom industry, copper conductors play a crucial role in physical interfaces, especially in the OSI model's physical layer. The economic cycles and technological advancements, such as 5G technology, renewable energy sources, electric mobility, and self-driving cars, are driving the demand for high-speed data connectors and miniaturized connectors. The telecommunications sector, aerospace and defense, and IT industries are the major consumers of electronic components, including connectors. The GTC-E series and DBAS 9 connector are examples of advanced connectors used in telecommunications and other industries.
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Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.48% |
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Market growth 2024-2028 |
USD 26.67 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.18 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 58% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., ABB Ltd., ALLIED ELECTRONICS CORP., AMETEK Inc., Amphenol Corp., Aptiv Plc, Elcom International Pvt. Ltd., Hon Hai Precision Industry Co. Ltd., Huawei Technologies Co. Ltd., Koch Industries Inc., METZ CONNECT GmbH, Nexans SA, Prysmian Spa, Rosenberger Hochfrequenztechnik GmbH & Co. KG, TE Connectivity Ltd., Yazaki Corp., HIROSE ELECTRIC Co. Ltd., J.S.T. MFG. Co. Ltd., Japan Aviation Electronics Industry Ltd., and Luxshare Precision Industry Co., Ltd |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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