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

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).

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. '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 Connectivity (USA)', 'Hirose Electric Co., Ltd. (Japan)', 'Corning Incorporated (USA)', 'Huber+Suhner AG (Switzerland)', 'Rosenberger (Germany)', 'JAE Electronics, Inc. (Japan)'

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.

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.

North America accounts for a significant share of the 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.