Global Connector Market Growth Prospects, Future Industry Landscape 2033 | Japan Aviation Electronics Industry, Ltd., Koch Industries Inc. (Molex LLC), 3M Company

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Connector Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $110.76 billion In 2028 At A CAGR Of 6.5% :

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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Connector Market Major Segments
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

Key Driver - Automotive Sector's Expansion Boosts Connector Market Prospects

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.

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Prominent Trend - Increasing Focus On Introducing Innovative Solutions Leveraging Advanced Technologies In The Connector Market

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.

Connector Market Players
Major companies operating in the connector market report are 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.

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Largest And Fastest Growing Region In The Market
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.

The Table Of Content For The Market Report Include:
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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