Connectors Market Size to grow by USD 26.67 billion between 2024-2028
According to a research report “ Connectors Market” by End-user (Automotive, IT, Telecom or datacom, Consumer electronics and others) Type (PCB connectors, I/O rectangular, Application-specific, Fiber optic connectors and others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 26.67 billion, at a CAGR of almost 6.48% during the forecast period. The electronic devices market has experienced significant growth due to technological advancements, leading manufacturers to invest heavily in research and development. Miniaturization of electronic devices is a key trend, driven by customer demand for compact, reliable products and the need to reduce raw material costs and assembly size in specific applications. This trend is largely attributed to the adoption of integrated circuits, which combine miniature components such as capacitors and transistors, resulting in a substantial reduction in product size over the years.
Browse market data tables, figures, and in-depth TOC on “Connectors Market” by End-user (Automotive, IT, Telecom or datacom, Consumer electronics and others) Type (PCB connectors, I/O rectangular, Application-specific, Fiber optic connectors and others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Automotive segment is projected to dominate the market size in 2024
In the realm of electronics manufacturing, PCB connectors play a pivotal role in establishing secure and dependable electrical connections between Printed Circuit Boards (PCBs) and various components or systems. The PCB connectors market is poised for steady expansion during the forecast period, driven by several key factors. Primarily, the increasing proliferation of electronic devices and the expanding reach of the Internet are fueling demand. Additionally, the reduction in raw material prices is further boosting market growth. The burgeoning electronic industry, in conjunction with advancements in semiconductor technologies, is anticipated to foster significant growth within the PCB connectors segment.
By Type, PCB connectors segment is expected to hold the largest market size for the year 2024
In the automotive industry, the market for connectors is projected to experience significant expansion during the forecast period. The emergence of advanced technologies such as autonomous vehicles, electric vehicles (EVs), sophisticated cruise controls, climate control systems, and high-tech audio controls are key growth drivers. As technology advances, the size of automotive equipment, including audio controls, Anti-lock Braking Systems (ABS), and navigation systems, has decreased, necessitating the use of reliable, standard, robust, and cost-effective connectors. This trend is attributed to the increasing adoption of micro connectors and intelligent bus technologies, which have replaced traditional cable connections, enabling miniaturization and enhanced functionality.
APAC is forecasted to hold the largest market size by region in 2024
The connectors market in the Asia-Pacific (APAC) region is projected to experience robust growth during the forecast period. This expansion is primarily driven by emerging economies such as China and India. China, being a significant connector manufacturer, significantly influences the global connectors market. These nations are undergoing rapid urbanization and industrialization, leading to total economic transformations. With increasing purchasing power parity, there is a heightened demand for various product categories, including automotive, electronic devices, and communication networks. For instance, China's Gross National Income (GNI) per capita rose from USD16,730 in 2019 to USD17,200 in 2020, according to The World Bank Group.
The Connectors Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Connector Market is experiencing significant growth due to the increasing demand for robust and miniaturized connectors in various industries. In the telecommunications sector, high-speed data connectors are essential for 5G networks, enabling faster data transfer and lower latency. The automotive industry also relies heavily on connectors for GPS navigation, airbags, Infotainment systems, Safety and Security, and Radar equipment in electric vehicles and vehicle production. Electronic fabrication plays a crucial role in the production of these advanced connectors. The OSI model highlights the importance of physical interfaces in transmitting data between electronic components, making high-quality connectors a must-have. The connector market caters to various industries, including telecommunications, automotive, aerospace, and consumer electronics. Smartphones, computers, and electrical appliances all require connectors for charging, data transfer, and other functions. Quick connectors, such as RCA cables, offer convenience and ease of use. The demand for 5G technology in various applications, including telecommunications and electric vehicles, is expected to drive the connector market's growth in the coming years.
Market Research Overview
The Connector Market encompasses a wide range of products used in various industries, including aerospace and defense, telecom, and consumer electronics. One notable connector type is the DBAS 9 connector, which is widely used in military and aerospace applications due to its robust design. Another popular connector series is the GTC-E, which is suitable for telecom and industrial applications due to its high-speed data transfer capabilities. The connector market is influenced by economic cycles and emerging technologies such as self-driving cars, electric mobility, and renewable energy sources. Robust connectors and miniaturized connectors are in high demand in sectors like aerospace and defense, telecom, and automotive. High-speed data connectors, such as those used in 5G networks, GPS navigation, airbags, and electric vehicles, are essential components of modern communication systems. Electronic fabrication plays a crucial role in the production of connectors. Copper is a common conductor used in PCB connectors, miniature connectors, and patchcords. The connector market includes various types, such as IT14 Series, Quick connectors, RCA cables, and patchcords. The telecommunications sector and 5G technology are driving the growth of the connector market, with applications in consumer electronics, communication systems, radar equipment, and electrical appliances, including smartphones.
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