USD 67.20 billion
Cables and Connector Market Size, Share, Growth Analysis, By Application(IT & Telecom, Automotive/Transportation, Consumer Electronics, Industrial), By Type(USB cables, Ethernet cables, HDMI connectors, Circular/Rectangular connectors), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2157 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
68
|Figures:
75
Cables and Connector Market Insights
Global Cables and Connector Market size was valued at USD 67.20 billion in 2022 and is poised to grow from USD 69.73 billion in 2023 to USD 93.68 billion by 2031, at a CAGR of 3.76% during the forecast period (2024- 2031).
Increasing digitization around the world is driving up the demand for high-speed internet and electricity, which is projected to primarily bolster sales of cables and connectors over the coming years. Expansion of the telecommunications sector, the rising proliferation of consumer electronics, and the advent of advanced technologies like 5G and IoT are also slated to boost market growth in the future. The increasing popularity of the work-from-home trend and rising adoption of cloud-based systems is also slated to benefit demand for cables and connectors in the long run. Advancements in the design and technology of new cables and connectors are also slated to create new opportunities for cables and connector market players. However, the high costs of advanced cables and connectors and the rising popularity of wireless technologies are projected to impede cables and connector market growth across the forecast period. High proliferation of digital technologies in different industry verticals is slated to open up new avenues of opportunities for cables and connector companies in the long run.
Market snapshot - 2024- 2031
Global Market Size
Largest Segment
IT & Telecom
Fastest Growth
Automotive/Transportation
Growth Rate
3.76% CAGR
Global Cables and Connector Market by region
Country Share for North America(%)
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Cables and Connector Market Segmental Analysis
The global cables and connectors market can be segmented on the basis of type, application, and region. In terms of type, it includes categories like USB cables, Ethernet cables, HDMI connectors, PCB connectors, Circular/rectangular connectors, and more. Application-wise, segmentation covers industries such as telecommunications, automotive, healthcare, consumer electronics, and aerospace. Geographically, the market is divided into regions such as North America, Europe, Asia-Pacific, and others.
Analysis By Type
A dominant share of 40% of the global cables and connector market share is held by PCB connectors. High use of PCB connectors in different industry verticals such as automotive, telecommunications, utilities, and industrial contributes to the notable market share.
Circular/rectangular connectors are slated to witness higher demand than other types of connectors and account for more than 25% of the global market share. Growing use of this type of connector in high-speed data transmission applications and cloud computing applications is slated to boost growth in this segment across the forecast period.
Analysis By Application
The IT & Telecom application accounts for a sizable amount of cables and connector sales. This application segment held a market share of 30% in 2022 making it the largest segment. Surging demand for high-speed data transmission and connectivity in telecommunications and tech applications is allowing this segment to hold sway over global revenue generation in the future.
The consumer electronics application segment accounted for more than 20% of the global cables and connector market share in 2022. Growing sales of smartphones, laptops, wearable devices, and tablets contribute to the high market share of this segment. The industrial segment held a market share of over 15% in 2022, which was driven by the surging adoption of automation and integration of digital solutions in different industry verticals.
Sales of cables and connectors in the automotive/transportation application segment are projected to rise at the fastest pace over the coming years. This segment accounted for 25% of the global market share in 2022. Electrification of vehicles and the growing popularity of electric vehicles are slated to be a key trend promoting cables and connector demand in this segment going forward. High demand for autonomous vehicles and advanced infotainment systems will also boost market growth.
Global Cables and Connector Market by application
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Cables and Connector Market Regional Insights
North America accounts for a significant share of the global cables and connector marketplace owing to the rapid adoption of advanced technologies and the presence of a robust digital infrastructure. The United States and Canada are projected to be key markets for cables and connector companies driven by rising demand for high-speed internet and data transmission in this region.
Growing digitization in the Asia Pacific region is forecasted to create new opportunities for cables and connector companies in the long run, India, China, and Japan are estimated to be the top markets for cables and connector suppliers in this region. Rapid industrialization, high sales and production of consumer electronics, and rising automotive production are key factors driving sales of cables and connectors over the coming years.
Latin America and parts of the Middle East and Africa are also predicted to offer good growth opportunities owing to increasing spending on digital infrastructure development and expanding telecommunications networks.
Global Cables and Connector Market by Region
- Largest
- Fastest
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Cables and Connector Market Dynamics
Drivers
- Increasing Demand for High-Speed Data Transmission: The world is a digital space and without high-speed internet it's impossible to make it big, from individuals to enterprises all need high-speed internet which isn't possible without cables and connectors. Hence, growing demand for internet with better bandwidth will boost cables and connector market growth.
- Rising Adoption of IoT (Internet of Things) Devices: The use of IoT devices in offices, vehicles, industries, and homes is increasing rapidly and this is projected to favor cables and connector demand over the coming years. The need for different cables and connectors to connect with IoT devices will boost market development.
- Technological Advancements and Innovation: Cable and connector technologies are continuously evolving as cables and connector companies invest heavily in product innovation. The development of new cables and connectors with advanced capabilities is projected to boost cables and connector demand outlook in the long run.
Restraints
- Price Volatility of Raw Materials: Raw materials are essential to the manufacturing of cables and connectors and fluctuations in their pricing could create challenges for market growth in the future. Inconsistent pricing could hurt sales and even diminish the profit margins of companies.
- Regulatory Compliance and Standards: Complying with different regulations and standards can come off as a challenge for cables and connector manufacturers as different countries have different norms. This can incur additional costs for companies and hurt their market growth going forward.
- Competition and Market Saturation: The highly competitive nature of this marketplace pushes cables and connector companies to offer competitive pricing that could sometimes lead them to losses and therefore impede overall market growth prospects in the long run.
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Cables and Connector Market Competitive Landscape
Intense competition among cables and connector market players makes it tough for new companies to enter the marketplace and pushes established companies to keep innovating. cables and connector manufacturers are focusing on incorporating sustainability in their manufacturing process and opting for eco-friendly raw materials to comply with evolving sustainability mandates. cables and connector companies are continually investing in different R&D ventures to fuel product innovation and launch new products. Growing digitization in the healthcare, industrial, and automotive sectors is also providing new opportunities for cables and connector suppliers. Companies such as TE Connectivity, Molex LLC, and CommScope Inc. are emphasizing on improving the reliability and efficiency of their products to stand out from the competition. Demand for custom cables and connectors is also estimated to offer new opportunities for cables and connector vendors in the future. Miniaturization of cables and connectors will also be of importance for new as well as established cables and connector suppliers going forward.
Top Player’s Company Profiles
- TE Connectivity Ltd. (Switzerland)
- Panduit Corporation (USA)
- Legrand SA (France)
- Sumitomo Electric Industries, Ltd. (Japan)
- Amphenol Corporation (USA)
- Molex LLC (USA)
- CommScope Holding Company, Inc. (USA)
- Nexans S.A. (France)
- General Cable Technologies Corporation (USA)
- Furukawa Electric Co., Ltd. (Japan)
- Belden Inc. (USA)
- Prysmian Group (Italy)
- Amphenol RF (USA)
- Radiall (France)
- L-com Global Connectivity (USA)
- Hirose Electric Co., Ltd. (Japan)
- Corning Incorporated (USA)
- Huber+Suhner AG (Switzerland)
- Rosenberger (Germany)
- JAE Electronics, Inc. (Japan)
Recent Developments
- In February 2024, Алексей on X (formerly Twitter) shared two images showcasing the PCIe 5.0 16-pin power connector in both its variants: 12VHPWR and 12V-2x6. These images unveil distinct identification marks directly on the connectors, making it easier for owners of top-tier graphics cards to differentiate between the two variants of the somewhat contentious 16-pin connector. Specifically, the 12VHPWR variant is marked with "H+", while the 12V-2x6 variant is labeled with "H++".
- In February 2024, RWE and Smart Wires, a provider of grid enhancing technologies and services, announced a collaboration to explore the use of new cable circuits for connecting offshore wind generation. The memorandum of understanding (MoU) between the companies specifically involves leveraging advanced power flow control technology called SmartValve on long HVAC or HVDC cable circuits to facilitate offshore generation connections. The aim of the collaboration is to accelerate the process and minimize the requirement for additional onshore and offshore grid infrastructure.
- In January 2024, ASUS unveiled the cable-free GeForce RTX 4090 BTF GPU featuring a 600W PCIe connector, eliminating the need for the 12VHPWR connector. This innovation represents a significant advancement in graphics card technology, offering enhanced power delivery without the requirement for additional connectors.
Cables and Connector Key Market Trends
- Increased Demand for High-Speed Connectivity: Surging demand for high-speed internet and data transmission for advanced technologies such as 5G, cloud computing, and IoT (Internet of Things) is projected to favor the demand for cables and connectors over the coming years. Fiber optic cables and connectors with higher bandwidth will witness high sales going forward.
- Rising Interest in Miniaturization: The growing miniaturization of devices is pointing towards a similar miniaturization trend in the global cables and connector marketplace. Manufacturers are focusing on developing new cables and connectors that can be used with smaller devices that are gaining popularity on a global level.
- Focus on Sustainability: The rising focus on sustainability is pushing cables and connector manufacturers to opt for greener manufacturing processes and incorporate the use of sustainable raw materials. cables and connector companies are trying to attract eco-conscious consumers by making their products greener and sustainable.
Cables and Connector Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the global cables and connector market is forecasted to be driven on the back of high-speed data transmission demand around the world. Expanding IoT and 5G networks coupled with increasing digitalization are also predicted to boost cables and connector market growth in the long run. Increasing electrification of vehicles and growing sales of consumer electronics will also favor cables and connector sales going forward. North America and Asia Pacific are projected to emerge as the most attractive regional markets for cables and connector companies in the long run. Volatility in raw materials pricing is a key restaurant that is slated to impede cables and connector market growth across the forecast period. Growing miniaturization of electronics is estimated to boost product innovation and create new opportunities for cables and connector companies in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 67.20 billion |
| Market size value in 2031 | USD 93.68 billion |
| Growth Rate | 3.76% |
| Base year | 2023 |
| Forecast period | 2024- 2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cables and Connector Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cables and Connector Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cables and Connector Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cables and Connector Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cables and Connector Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cables and Connector Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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