The connector global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Connector Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
connector market size has grown strongly in recent years. It will grow
from $79.10 billion in 2023 to $86.07 billion in 2024 at a compound
annual growth rate (CAGR) of 7.7%. The growth in the historic period can
be attributed to rapid expansion of telecommunications, computing
revolution, emergence of high-speed data transmission, automotive
electronics integration and consumer electronics boom.
The connector market size is expected to see strong growth in the next few years. It will grow to $110.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to 5G technology deployment, electric vehicles (EVs) and charging infrastructure, internet of things (IoT) expansion, edge computing and artificial intelligence (ai) and machine learning (ml) integration. Major trends in the forecast period include miniaturization and high-density connectors, high-speed data transmission, rise of industry 4.0 and IoT, increased focus on reliability and durability, and advancements in materials and sustainability.
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Scope Of Connector Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Connector Market Overview
Market Drivers -
The
growing automotive industry is expected to propel the growth of the
connector market going forward. The automotive industry refers to the
design, development, manufacturing, marketing, selling, repairing, and
modification of motor vehicles, including passenger automobiles, light
trucks, and commercial vehicles. Connectors are used in the electrical
systems of vehicles to enable the transmission of power and signals
between different components, ensuring reliable and secure connections
and contributing to the overall efficiency and safety of the vehicle's
electrical system. For instance, in June 2023, according to reports
shared by the Society of Motor Manufacturers and Traders (SMMT), a
UK-based trade association, sales of passenger cars in the UK rose 25.8%
from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the
growing automotive industry is driving the growth of the connector
market.
Market Trends -
Major companies operating in the
connector market are focusing on developing innovative solutions with
advanced technologies, such as high-voltage connector backshells, to
gain a competitive edge in the market. High-voltage connector backshells
are protective enclosures that attach to the rear of high-voltage
connectors. For instance, in July 2023, ABB Ltd., a Switzerland-based
automation company, launched the Harnessflex EVO Connector Interfaces
for heavy-duty electric vehicles (EV). These connector interfaces
increase cable-to-connector stability in high-voltage applications,
protect critical wiring, and improve performance and reliability in
high-voltage applications. The orange color of the Harnessflex EVO
Connector Interfaces indicates high cable-to-connector strain relief
with high mechanical performance and prevents debris intrusion.
The connector market covered in this report is segmented –
1)
By Product: PCB Connectors, I Or O (Input Or Output) Connectors,
Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors,
Rectangular Connectors, Solar Connectors, Patchcord
2) By Material: Copper, Aluminum, Stainless Steel, Plastic, Other Materials
3) By End User: Consumer Electronics, Telecom, Automotive, Energy And Power, Aerospace And Defense, Other End Users
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Regional Insights -
Asia-Pacific
was the largest region in the connector market in 2023. The regions
covered in the connector market report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America, Middle East, Africa.
Key Companies -
Japan
Aviation Electronics Industry, Ltd., Koch Industries Inc. (Molex LLC),
3M Company, Luxshare Precision Industry Co., Ltd., Prysmian Group, TE
Connectivity Ltd., Yazaki Corporation, Amphenol Corporation (Amphenol
RF), Nexans SA, Ametek Inc., Phoenix Contact, Molex LLC, Smiths
Interconnect, ITT Inc., JAE Electronics Inc., Foxconn Interconnect
Technology Limited (FIT), Hirose Electric Co. Ltd., Wurth Elektronik,
AVX Corporation, Panduit, Harting Technology Group, Samtec Inc., Cinch
Connectivity Solutions, Delphi Technologies, J.S.T. Mfg. Co. Ltd., Axon
Cable S.A.S, CUI Global Inc.
Table of Contents
1. Executive Summary
2. Connector Market Report Structure
3. Connector Market Trends And Strategies
4. Connector Market – Macro Economic Scenario
5. Connector Market Size And Growth
…..
27. Connector Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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