Connectors Market Size to Value at USD 172.5 Billion by 2032 | CAGR: 8.4% | Report by DataHorizzon Research
Fort Collins, Colorado, Sept. 07, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “Connectors Market Size, Share, Growth, Trends, Statistics Analysis Report, By Product (PCB & I/O Connectors, Circular, Fiber Optic, RF Coaxial, Others), By End-use (Consumer Electronics, Telecom, Energy & Power, Aerospace & Defense, Automotive, Others), By Region, And Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, the connectors market size was valued at USD 77.3 Billion in 2022 and is expected to reach USD 172.5 Billion by 2032 with a CAGR of 8.4%. Connectors are electrical components available in various sizes and shapes They can be classified in terms of design for various applications in industries such as aerospace, consumer electronics, telecommunications, and others. The growing popularity of rectangular and circular connectors in the consumer market is second to the market developments in the past few years.
The connectors market growth is significantly driven by the rise in digitization across several sectors. The growing demand for fiber optics for internet needs will contribute to industry development in the following years. Besides, connectors are employed to fulfill automotive needs in the automobile industry.
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Connectors Market Report Highlights:
- The connectors market worth is expected to be USD 172.5 billion by 2032 at a CAGR of 8.4% in 2032.
- Connectors market development include growing popularity among consumers and the availability of connectors of various size and shapes.
- PCB connectors dominate the market by product due to their popularity in the electronics and semiconductors industry.
- Asia Pacific is a dominant market and is projected to attain a prominent position in the forthcoming years. The regional markets are home to several technological startups with strong market positions at the global level.
- Some of the prominent players in the connectors market report include Pfizer Inc., Mylan N.V., Novartis International Ag, Eli Lily and Company, Merck & Co., Inc., GlaxoSmithKline Plc (Gsk), Purdue Pharma L.P., Endo Health Solutions, Inc. (Endo International Plc.), Johnson & Johnson, and Abbott Laboratories.
Report Snapshot:
| Report Title | Connectors Market |
| Market Size in 2022 | USD 77.3 Billion |
| Market Size by 2032 | USD 172.5 Billion |
| CAGR from 2023 to 2032 | 8.4% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations and Forecast, Competitor Analysis, Trends, and Growth Factors |
| By Product | PCB & I/O Connectors, Circular, Fiber Optic, RF Coaxial, Others |
| By End-use | Consumer Electronics, Telecom, Energy & Power, Aerospace & Defense, Automotive, Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S.A, Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Aptiv, Samtec, Volex, 3M, Amphenol Corporation, Hirose, Molex Incorporated, Huawei, Prysmian, ABB, and Nexans |
Segmentation Overview:
The global connectors market has been segmented as product, end-use, and region. Due to the growing demand for consumer electronics and automobiles, PCB connectors maintain a leading position in the product segment. Regarding end-use, automotive accounted for a large share in 2022 and is projected to maintain a leading position throughout the forecast period.
Asia Pacific is the dominant region for the connectors market. The growth factors include the presence of technological startups and the rise in demand for communication devices. The use of connectors in the automobile industry is one of the prominent factors for regional market developments.
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Key Developments and Trends in the Industry:
- With the emergence of 5G technology, ultra-fast connectors will serve the infrastructural needs of 5G. The deployment is likely to have a positive impact on automotive, test and measurement, and transportation. Besides, numerous key players have developed high-tech solutions to fulfill upcoming significant demands. Moreover, a design upgrade to the connectors is likely to counter lower latency issues and improve the bandwidth.
- LED, magnetic, vibration, or a combination of these have changed the industry landscape. Lately, consumers prefer having magnetic connectors for a secure coupling. This enables the least damage to the connectors and is ideal for environments with frequent disconnects. This is also ideal for drones, eyewear, and robotic automation.
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Connectors Market Segmentation:
Connectors Market, By Product (2023-2032)
- PCB Connector
- I/O Connector
- Circular
- Fiber Optic
- RF Coaxial
- Others
Connectors Market, By End-use (2023-2032)
- Consumer Electronics
- Telecom
- Energy & Power
- Aerospace & Defense
- Automotive
- Others
Connectors Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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