The Global Connector Market size is expected to reach $131 billion by 2029, rising at a market growth of 7.1% CAGR during the forecast period.
A connector is a tool or element that connects electrical or electronic circuits. Connectors can be used in a wide range of applications, including those in the aerospace, telecommunications, consumer electronics, and automotive industries. They can also vary significantly in terms of their size, shape, and design. Circular, rectangular, network, housing, board-to-board, and wire-to-board connectors are some examples of the various types of connectors that can be categorized based on their design and intended use. Additionally, the RCA cable connector used in gaming headphones and speakers has increased RCA cable connector sales.
Based on their performance traits, like their current and voltage ratings, contact resistance, and toughness & dependability, they can be distinguished. As they enable various components to communicate with one another and transfer signals or power, connectors are essential to the operation of many electrical and electronic systems. The connector market is the sector of the economy that develops, produces, and markets connectors for utilization in a variety of applications. As a result, the connector market is a very dynamic and competitive industry, with a large number of manufacturers and suppliers delivering a wide range of products to fulfill the needs of different industries and applications.
For audiovisual, power, and data applications, connections come in thousands of different configurations. Based on their intended use, connectors can be separated into four major groups. These are inline or cable connectors, chassis or panel connectors, PCB mount connectors, and splice or butt connectors. Permanently affixed inline or cable connectors allow a cable to be inserted into another terminal (such as another wire or a stationary instrument). Permanent chassis or panel connections, which are permanently attached to an equipment piece, allow users to connect a cable to a fixed device.
In response to the COVID-19 pandemic, many enterprises tried to improve the connection between cloud storage and device, which increased the demand for many different types of connectors, like connectors used in edge computing. The edge-computing connectors offered improved data protection mechanisms needed for sensitive data transmission. These connectors were in high demand due to the growing popularity of remote work and were heavily used in data transmission by the IT and industrial sectors. Therefore, the pandemic had a mixed impact on the connector market.
Businesses are incorporating AI, ML, and IoT technologies into their digital infrastructure. The emergence of technology has altered consumer choices. This alteration serves as an example of how organizations may change as a result of digitization. Previously manual government processes, such as filing taxes or applying for licenses, have undergone a significant change as a result of digitization. In addition, this digitization has led to a rapid increase in connected devices and data centers. Consequently, the growing adoption of 5G and rising demands for digitalization are fueling the expansion of the market.
Many large technology companies are investing significant resources in building new data center infrastructure, especially in the developing world, to increase their presence across the globe. An extensive network of connectors, including coaxial connectors, Ethernet connectors, optical fiber connectors, and others, must be installed to accommodate the growth in the number of information and technology (IT) data centers and hubs. The building of additional data centers is intended to help both public and private enterprises hasten the transformation process. All these elements are helping in the development of the market.
The manufacture of connectors requires various critical raw materials, including plastic-based parts like PVC grains and Teflon-related materials like ETFE, TFE, PTFE, and FEP, for the insulation of the cable and the conductors. Due to their superior conductivity and malleability, copper alloys are typically used as electrode material in connectors. The alternatives are beryllium copper, brass, and phosphor bronze. Another inert metal, like gold, nickel, or tin, is frequently deposited on the base electrode metal. Therefore, the fluctuating prices of these raw materials prevent the market from being stable, which in turn, is detrimental to the expansion of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Based on product, the connector market is characterized into PCB connectors, I/O connectors, circular connectors, fiber optic connectors, RF coaxial connectors, and others. The PCB connectors segment garnered the highest revenue share in the connector market in 2022. In recent years, the PCB connector demand has been driven by the rapidly expanding semiconductor sector. The segment will increase significantly as a result of the expanding applications for consumer electronics products like white goods and brown goods.
On the basis of end user, the connector market is classified into consumer electronics, telecom, automotive, energy & power, aerospace & defense, and others. The automotive segment witnessed a significant revenue share in the connector market in 2022. The electrical systems in cars are designed to work with vehicle electrical connections. Modern automobiles use heavily networked, microprocessor-controlled systems that have undergone substantial evolution. As a result, reliable electrical connections and wiring are becoming more important. Automobile systems that require connections include those with computers, sensors, relays, lighting, ignition systems, radio receivers, and power windows and doors.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 82 Billion |
| Market size forecast in 2029 | USD 131 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 7.1% from 2023 to 2029 |
| Number of Pages | 218 |
| Number of Table | 324 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the connector market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the maximum revenue share in the connector market in 2022. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), most fixed-broadband customers in the Asia Pacific region are from the East and Northeast. China's telecom network operators have incorporated fiber into every telecom application, including FTTx, intra- and inter-city connections, and mobile cellular networks.
Free Valuable Insights: Global Connector Market size to reach USD 131 Billion by 2029
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; 3M Company, and Huawei Technologies Co. Ltd. are the forerunners in the Connector Market. Companies such as TE Connectivity Ltd., Amphenol Corporation, and Aptiv PLC are some of the key innovators in Connector Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, ABB Ltd, Ametek, Inc., Aptiv PLC, Amphenol Corporation (Amphenol RF), Huawei Technologies Co. Ltd., Koch Industries, Inc. (Molex LLC), Nexans SA, Prysmian Group, and TE Connectivity Ltd.
By Product
By End User
By Geography
The Market size is projected to reach USD 131 billion by 2029.
A growing preference for digitalization are driving the market in coming years, however, Highly fluctuating prices of raw materials restraints the growth of the market.
3M Company, ABB Ltd, Ametek, Inc., Aptiv PLC, Amphenol Corporation (Amphenol RF), Huawei Technologies Co. Ltd., Koch Industries, Inc. (Molex LLC), Nexans SA, Prysmian Group, and TE Connectivity Ltd.
The Telecom segment is leading the Global Connector Market by End User in 2022 thereby, achieving a market value of $36 billion by 2029.
The Asia Pacific market dominated the Global Connector Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $51.2 billion by 2029.
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