Connector Market - By Product (PCB Connectors, I/O Connectors, Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors), By End Use (Telecom, Transportation, Automotive, Industrial, Computer & Peripherals) & Forecast, 2024 - 2032

Connector Market Size

Connector Market size was valued at USD 68.5 Billion in 2023 and is set to grow at over 4.1% CAGR between 2024 and 2032. Increasing demand for high-speed data transmission across computers & peripherals will propel industry growth of connectors. Connectors are electromechanical devices that interconnect cables, wires, and hoses to allow smooth flow of electricity. The global connector industry in the past decade has witnessed a significant turnaround, primarily due to the growing application of several networking devices.

The flourishing telecommunication, computer networking and automotive sectors have significantly increased the market demand of connectors across the globe. The rising applications for consumer electronics devices such as white goods and brown goods will proliferate the market growth extensively. Additionally, the growing usage of automation technology across various sectors including industrial, automotive, and defense will further drive the market statistics of PCB connectors.

Surging demand need for space-saving solutions in various industries such as mobile devices, wearables, and automotive electronics is augmenting the miniaturization, thereby propelling the connector market trend towards smaller and more compact connectors. In addition, with the growth of technologies such as 5G, Internet of Things (IoT), artificial intelligence (AI), and autonomous vehicles, there is a rising demand for high-speed connectors capable of transmitting large amounts of data quickly and reliably.

As data rates continued to increase, connectors needed to support higher bandwidths and ensure signal integrity. Connectors capable of handling high-speed data transmission are in demand to meet the requirements of applications like data centers, telecommunications, and high-performance computing which is further boost the connector market growth.

COVID- 19 Impact

The COVID- 19 outbreak has caused large scale economic disruption across several developed & developing nations across the globe. The slowdown of the global economy combined with decreased GDP of leading economies in first half of FY2020 on account of the pandemic is expected to hamper the industry growth in the medium term. Lockdown of manufacturing operations, and shortage of workforce are few eminent factors that will limit the installation of these units. Despite the economic slowdown, the market outlook has recovered by the end of FY2020, as the manufacturing operations recommenced post lockdown.

Connector Market Trends

Growing adoption of wireless connectivity coupled with consumer inclination towards reliability & durability in a wide array of industries is anticipated to propel the industry dynamics. Industries such as aerospace, defense, and automotive put a strong emphasis on reliability and durability. Connectors designed for harsh environments, with features like sealing against dust and moisture, high temperature resistance, and rugged construction, were sought after, thereby impelling the market growth.

The connector market showcased the adoption of advanced materials to improve performance. Materials like fiber optics gained popularity for their high bandwidth capabilities, while materials with better thermal conductivity were used in high-power applications to manage heat dissipation. The shift towards automation where manufacturing process is witnessing automation and advanced robotics, leading to improved productivity, reduced costs, and increased efficiency.

Connector Market Analysis

The PCB connector market held approximately 17% of the revenue share in 2022, on account of their diversified applications are available in wide varieties and ranges some of which include PCB connectors, IO connectors, circular connectors, fiber optic connectors, RF coaxial connectors, amongst others. The fiber optic connectors are the most commonly used electromechanical device across telecommunication industry. It maximizes the speed of data transmission with minimal electromagnetic interference. In addition, the influx of investments from foreign investors in telecom sector across various emerging nations will further push the business growth.
 

The rising applications for consumer electronics devices will proliferate the product adoption extensively. The growing usage of automation technology across various sectors including industrial, automotive, and the defense will further drive the installations of PCB connectors. Moreover, reliability and maximum data transmission rates are among the paramount factors augmenting the installations of connectors in modern data centers.
 

The connector market for telecom end use is likely to register gains at nearly 5% through 2032. The versatility of connectors is reflected across the diverse industrial applications where they are utilized for numerous purposes. The telecom connectors are used to enhance the exchange rate of large data via electronic or electrical means over a long distance. Shifting focus towards the development of 5G infrastructure in line with a substantial rise in Internet usage with increasing demand for secure & reliable communication will boost the product demand. Additionally, the influx of FDI in telecom sector across major economies will further proliferate the market demand for connectors.
 

Consumers spending towards enhancing the vehicle safety has observed unprecedented growth in connector market. As a result, deployment of intelligent and smart sensing devices along with connectors has gained wide momentum across global automobile industry. Connectors are mainly responsible for the on-board power supply and therefore considered as an essential component in a vehicle. It is usually available in wire-to-wire and wire-to-board configurations. The increasing electrical functionality, communication density and safety requirements will foster the demand of connectors in the automotive applications.
 

Asia Pacific connector market is projected to see at a 4% growth up to 2032. Countries including China, Japan, and India have emerged as one of the major hubs for the automotive & IT-telecom sectors over the past few years. A positive outlook toward FDI investments for the development of the IT & telecommunication sector coupled with rising passenger car demand has significantly increased the demand of the product. As of now, the regional market is being significantly dominated by various Chinese players.
 

Cost-competitiveness holds a very important role to effectively sustain in the regional market. During the last decade, most of the economies across the developing Asia Pacific region have undergone massive structural transformation. However, the high penetration of connectors across expanding industrial, commercial, and consumer electronics industries will augment the business growth.
 

Connector Market Share

The key market players are focusing on developing new products with advanced features to enhance their market share in the industry. Furthermore, collaborations and partnerships are among the prominent strategies followed by the industry giants to achieve a competitive edge in the global market. Leading industry participants are focusing toward forward & backward integration by establishing direct distribution channels and long-term supply contracts to reduce their products prices to enhance their market share. The prominent players profiled in the connector market report includes;

• Aptiv PLC
• TE Connectivity
• Amphenol Corporation
• Molex Inc
• Luxshare Precision Industry Co. Ltd.
• Foxconn Technology Group
• Japan Aviation Electronics Industry, Ltd.
• Yazaki Corporation
• Rosenberger Group
   

Connector Industry News

• In August 2022, the U.S. government launched USD 10.5 Billion investment to strengthen America’s electric grid. The investment will accelerate the deployment of transformative projects that will assist the reliability of the power sector’s infrastructure for affordable, reliable, clean electricity.
   
• In December 2022, India Grid Trust (IndiGrid) and G R Infraprojects signed a contract for power transmission projects worth over USD 50 billion for identified TBCB (Tariff Based Competitive Bidding) transmission projects. In addition, the power ministry of India has recently unveiled a plan for investment of USD 2,500 billion in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030 to meet its energy transition goal, which in turn is anticipated to have a positive impact on the market growth.
   

This connector market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MT & ‘USD Million’ from 2019 to 2032, for the following segments:

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By product

• PCB Connectors
• IO Connectors
• Circular Connectors
• Fiber Optic Connectors
• RF Coaxial Connectors
• Others

By End Use

• Telecom
• Transportation
• Automotive
• Industrial
• Computer & Peripherals
• Others

The above information has been provided for the following countries:

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• France
• Russia
• UK
• Italy
• Spain

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia

Middle East & Africa

• UAE
• South Africa
• Saudi Arabia

Latin America

• Brazil
• Argentina