How Has the Connector Market Size Evolved in Recent Years?
The connector market has seen considerable growth due to a variety of factors.
• Recently, there has been impressive growth in the connector market size. It is projected to rise from $86.07 billion in 2024 to $92.65 billion in 2025 with a compound annual growth rate (CAGR) of 7.6%.
This increase in the past can be credited to the accelerated development in telecommunications, the advent of the computing era, the onset of high-speed data transmission, the incorporation of automotive electronics and the surge in consumer electronics.
What are the Market Size and Expected Growth Rates for the Connector Market?
The connector market is expected to maintain its strong growth trajectory in upcoming years.
• Projected to witness significant growth in the ensuing years, the connector market size is set to expand to $117.28 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%.
This upward trajectory in the forecasted period can be linked to the adoption of 5G technology, the surge of electric vehicles (EVs) and their required charging infrastructures, the growth of the Internet of Things (IoT), evolution of edge computing, and the integration of artificial intelligence (AI) and machine learning (ML). Foreseen trends within this period encompass the increase in miniaturization and high-density connectors, acceleration of high-speed data transmission, the emergence of Industry 4.0, IoT proliferation, strengthened emphasis on reliability and durability, and the notable headways in materials and sustainability.
Which Key Drivers Are Propelling The Connector Market's Growth?
The burgeoning sector of automobile manufacturing is projected to fuel the expansion of the connector market in the future. The automobile industry encompasses everything from the creation to marketing, selling, refurbishing, and modification of motor vehicles. This includes common cars, light-weight trucks, and commercial vehicles. The role of connectors in these vehicles is to facilitate the transmission of both power and signals among different components. This ensures a safe and reliable connection while also improving the overall effectiveness of the vehicle's electric system. The Society of Motor Manufacturers and Traders (SMMT) shared a report in June 2023, indicating a considerable increase of 25.8% in the UK's passenger cars sales. The sales escalated from 140,958 units in 2022 to 177,266 units in 2023. Therefore, the rapidly evolving automobile industry is steering the expansion of the connector market.
What Are The Key Segments Within The Global Connector Market?
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
Subsegments:
1) By PCB Connectors: Pin Headers, Socket Connectors, Board-To-Board Connectors, Wire-To-Board Connectors
2) By I Or O (Input Or Output) Connectors: USB Connectors, HDMI Connectors, Audio Connectors, Video Connectors
3) By Circular Connectors: M Series Connectors, Latching Circular Connectors, Multi-pin Circular Connectors
4) By Fiber Optic Connectors: SC Connectors, LC Connectors, ST Connectors, MTP Or MPO Connectors
5) By RF Coaxial Connectors: BNC Connectors, SMA Connectors, F Connectors, N Connectors
6) By Rectangular Connectors: D-Sub Connectors, Modular Connectors, Terminal Block Connectors
7) By Solar Connectors: MC4 Connectors, PV Connectors, Branch Connectors
8) By Patchcord: Fiber Optic Patchcords, Ethernet Patchcords, Coaxial Patchcords
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Which Emerging Market Trends Are Altering The Connector Industry?
Leading businesses involved in the connector market are prioritizing the creation of innovative solutions featuring sophisticated technologies like high-voltage connector backshells, in an attempt to enhance their market competitiveness. High-voltage connector backshells serve as a protective casing that gets connected to the back of high-voltage connectors. An instance of this was in July 2023 when ABB Ltd., an automation company based in Switzerland, introduced the Harnessflex EVO Connector Interfaces, which are purposed for heavy-duty electric vehicles (EV). These interface connectors elevate the stability between cable and connector in high-voltage circumstances, safeguarding essential wiring, as well as enhancing reliability and performance under high-voltage conditions. The Harnessflex EVO Connector Interfaces are distinguishable by their orange color, signifying heightened cable-to-connector stress relief, superior mechanical performance, and defense against debris intrusion.
Who Are the Key Players In The Connector Market?
Major companies operating in the connector market report are:
• Japan Aviation Electronics IndustryLtd.
• 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.
What Are The Regional Insights Into The Connector Market?
Asia-Pacific was the largest region in the connector market in 2024. The regions covered in the connector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
