USD 83.2 billion
Connector Market Size, Share, Growth Analysis, By Product Type(PCB Connectors, I/O Connectors, Circular Connectors, Fiber Optic Connectors), By End-User(Consumer Electronics, Telecom, Automotive, Energy & Power), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20B2040 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
69
|Figures:
74
Connector Market Insights
Global Connector Market size was valued at USD 83.2 billion in 2022 and is poised to grow from USD 86.86 billion in 2023 to USD 122.58 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
The global market for connectors supplies products that can provide smooth data transfer and connectivity across various devices. This market is an essential component in the electronics industry, with a wide array of applications that it can be suitable for to ensure higher efficiency and performance.
Connectors efficiently link electronic systems and guarantee a seamless flow of power, data, and communication across several applications. These include consumer electronics, automotive, industrial machinery, telecommunications, and aerospace, among others.
The connector market offers a variety of products that can span multiple applications. These types include board-to-board, wire-to-board, rectangular, and circular connectors. These products can be of different sizes and shapes, offering varying functionalities to serve the specific needs spread across multiple industries and applications.
Electronic devices require magnified connectivity and performance solutions, This has driven the demand for connectors, which translates to market growth. There is a notable trend of making everything smaller. Technological advancement has brought forward sophisticated models which are more compact. This has bolstered the demand for smaller but efficient and dependable connectivity solutions, which the market is striving to fulfill.
Up-and-coming technologies have filtered into several industries. These include 5G connectivity, EVs, and IoT. This development has surged the requirement for advanced connectors that can maintain a high level of signal integrity and power levels while transferring data at high speeds.
The competition in this market is intense. New startups and entrants strive to attain the level of established companies like Molex, TE Connectivity, and Amphenol Corporation. All market participants target innovation to offer connectivity solutions that serve the changing needs of modern electronics.
Global industries are prioritizing technological innovation. This presents great potential for the connector market who can provide uninterrupted communication and power transmission that is necessary in our interconnected world.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
PCB Connectors
Fastest Growth
Fiber Optic Connectors
Growth Rate
4.4% CAGR
Global Connector market ($ Bn)
Country Share for North America Region (%)
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Connector Market Segmental Analysis
The global connector market is segmented on the basis of Product Type, End User, and Region. Based on Product Type the market is segmented as, PCB Connectors, I/O Connectors, Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors, Others. Based on End User the market is segmented as, Consumer Electronics, Telecom, Automotive, Energy & Power, Aerospace & Defense, Others. Regional the market is segmented as, North America, Asia Pacific, Latin America, and Middle East & Africa (MEA)
Analysis By Product
PCB Connectors lead the product segment in the connector market. Printed Circuit Board, or PCB, connectors maintain healthy data transmission between PCBs in electronic systems, which are the heart of almost every electronic gadget. PCBs are widely adopted in several applications. These can range from industrial machinery to consumer electronics. Thus PCB connectors are vital in these industries, explaining their market supremacy.
However, Fiber Optic Connectors have the quickest growth rate in the market. To facilitate high-speed data transfer, fiber optic connectors are crucial. These connectors ensure that optical fibers have access to swift and dependable data transfer. These devices play an important part in high-performance computing, telecommunications, and data centers. As industries develop more efficient and speedy communication technologies, they need smooth connectivity with a high-bandwidth. That’s how we can explain the growth of fiber optic connectors.
Analysis By End-user
Consumer Electronics is at the top of the end-user segment in the market.The digital age has presented a wide range of electronics built for consumers to use in their day-to-day life for communication and recreation. These include smartphones, wearable devices, laptops, and smart home systems. These devices require a smooth transfer of data and high power distribution. The market’s compact high-performance connectors provide just that. Consumer electronics need long-lasting, flexible, and small connectors that can transmit data at high speeds. This has cemented this category’s dominance over the market.
Automotives have grown rapidly in the end-user category of the market. This sector has earned its name as the connector market’s fastest-growing segment. This industry has surged market demand due to its continued developments. The increased adoption of autonomous and electric vehicles and advanced infotainment and safety system integration has boosted market growth in this segment. To ensure the overall functionality and communication between control units, power distribution systems, sensors, and vehicle networks, this sector needs connectors. The automotive industry is continuously innovating to add new electronic systems in vehicles. This development surges the demand for high performance and speedy transmission via connectors. Thus, this explains the segment’s substantial growth in recent times.
Global Connector market By Product
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Connector Market Regional Insights
North America leads the regional segment of the connector market. Its large share can be credited to its high number of technology companies and thriving infrastructure of advanced technology, coupled with a growing need for consumer electronics. North America was one of the early adopters of up-and-coming technologies like IoT and 5G. Their commitment to further technological innovation has led to their supremacy. These factors have bolstered the demand for connectors in this region.
Not far behind lies the second-largest region in the market for connectors. The APAC region holds this title due to several reasons. Its heightened production in electronics and automotive sectors and large presence of consumer electronics companies has cemented its market position. South Korea, China, Taiwan, and Japan have contributed largely to establish robust electronics supply chains across the globe. Asia-Pacific has witnessed a surge in demand for consumer electronics and telecommunications. This is a result of their higher incomes and increasing shift to urban areas due to the growth in regional population. All these factors have fueled the demand for connectors that can effectively connect theri devices. This is why the APAC region ranks in second place on the global market.
Global Connector Market By Geography
- Largest
- Fastest
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Connector Market Dynamics
Drivers
Growing Consumer Electronics Demand:
- The global population has adapted well with the modern digital age. In this context, consumers have boosted the demand for consumer electronics. These devices can be applied to various tasks. These include communication, entertainment, and recreation. These devices fuel the need for connectors for better connectivity across all systems maintaining efficiency and overall performance.
Rapid Technological Advancements:
- Businesses are employing the use of new innovative technology in their workflow. These include 5G, EVs, and IoT, and electric vehicles. These advanced technologies fuel the need for connectors with high-speed data transmission, increased power standards, and reliability. This can translate into further market growth.
Restraints
Compatibility Issues:
- There are a diverse range of applications and connector variations in the market. To maintain compatibility and versatility among different devices and systems can be complicated. This can pose an integration challenge, potentially hampering market growth.
Miniaturization Challenges:
- The trend of miniaturized devices has gripped the market. However, the process of responding to that trend can be difficult. Achieving more compact and smaller designs that can fit into limited spaces without compromising functionality can be challenging for producers.
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Connector Market Competitive Landscape
A mixed blend of market participants occupy the competitive ecosystem of the connector market. From specialized niche suppliers to well-developed global producers, all players are vying for market share. Some top names in the market include Amphenol Corporation, Molex, TE Connectivity, and Hirose Electric Co.
These firms lead the market. This is due to their global presence, wide range of product offerings, and strong brand recognition. These market giants bring in an extensive variety of connectors to the market. These diverse products are made to serve a number of industries and applications, ranging from consumer electronics to automotive.
Top Player’s Company Profile
- Delphi Technologies
- TE Connectivity
- Hirose Electric Co., Ltd.
- Kyocera Corporation
- Phoenix Contact
- Yazaki Corporation
- Foxconn Interconnect Technology (FIT)
- HARTING Technology Group
- ITT Inc.
- Panduit
- Samtec
- Smiths Interconnect
- Würth Elektronik
- Rosenberger Group
- OMRON CorporationNorComp Inc.
- AVX Corporation
Recent Developments
- Molex is a manufacturer of electronic, electrical, and fiber optic connectivity systems supplying primarily to data communications, medical, industrial, automotive and consumer electronics sectors. This producer was bought by Amphenol in February 2023. Amphenol is a major producer of electronic and fiber optic connectors, cable and interconnect systems.
- TE Connectivity is a technology company that designs and manufactures connectors and sensors for a variety of industries. They reported in January 2023 about their upcoming release of a new line of optical connectors for 5G applications.
- Hirose Electric is a Japanese company specializing in the manufacturing of electric connectors.They stated in March 2023 that they had developed a new high-speed connector. This device can transmit data speedily, at up to 100 Gbps.
Connector Key Market Trends
- Miniaturization and High-Density Connectors: Miniaturized connectors are gaining popularity in the market. There is a growing trend of evolving towards more compact electronic devices. Consumers are looking for products that occupy little space but offer the same level of functionality. In response to this, manufacturers are bringing forth high-density connectors that are smaller but allow several connections.
- High-Speed Data Transmission: Connectors that can handle high-speed data transmission have grown in demand. These needs have surged as more smart technologies drop into the market. Data-intensive applicatory technologies like 5G and IoT are pushing market producers to respond to this trend. In order to supply devices that can support these advanced communication networks, new innovations are being developed. Manufacturers are bringing forth connectors with reduced electromagnetic interference and magnified signal integrity.
Connector Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global connector market analysis; the connector market, a crucial component of the electronics industry, is witnessing robust growth driven by factors like technological advancements and increasing demand for seamless connectivity. This market spans various regions, with North America and Asia-Pacific leading the way. In terms of segments, the consumer electronics sector dominates due to the proliferation of gadgets and devices requiring efficient data and power transmission. Simultaneously, the automotive sector is a rapidly growing segment due to electric vehicles and advanced infotainment systems. Drivers include the surge in high-speed data transmission needs propelled by technologies like 5G and IoT, as well as the demand for miniaturized connectors to fit compact devices. The automotive industry's evolution towards electric and autonomous vehicles contributes to the demand for connectors that handle complex electronics integration. The emphasis on Industry 4.0 and automation further boosts connector adoption. As industries continue to push the boundaries of technology and connectivity, the connector market plays a pivotal role in enabling seamless communication and power distribution across applications.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 83.2 billion |
| Market size value in 2031 | USD 122.58 billion |
| Growth Rate | 4.4% |
| 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 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 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 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 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 Connector Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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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