Press release
Connector Market Size To Reach USD 114.7 Billion By 2030, Growing At A CAGR of 6.6% | Valuates Reports
The global connector market was valued at USD 62.3 billion in 2020 and is projected to reach USD 114.7 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.
Major Factors Driving The Growth Of the Connector Market are
High growth rates in the automotive sector due to the growing use of electric automobiles and other smart technologies, as well as an increase in investment in military and submarine cables by various companies, are the main drivers that influence the connector market's growth.
In addition, leading manufacturers should benefit from the rise in demand from the telecom and automotive sectors brought on by the development of 5G and IoT technology and be able to expand their connector market. Share.
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TRENDS INFLUENCING THE GROWTH OF CONNECTOR MARKET
Automotive connectors are crucial in providing reliable electricity to numerous components. Additionally, these connectors are made to endure extremes in temperature, dirt, wear, and dirt. Additionally, the market for automotive connectors is expanding due to the rising number of vehicles and electrification in some vehicle segments. The market for automotive connectors will grow during the projected period as a result of rising demand for electric vehicles, enhanced features, and security features in the automotive industry.
During the forecast period, rising demand for automotive electronics is anticipated to boost the global PCB connectors market. Automotive connectors are necessary for the effective operation of electronic components used in vehicles. Because of the rising need for cutting-edge technologies like high-end audio systems, cutting-edge driver assistance systems, onboard diagnostic systems, infotainment systems, and electronic transmission, the use of automotive electronics has expanded.
Increases in processing, data storage, and networking capabilities are being driven by the demand for bandwidth-intensive, data-driven services. Connectors are under pressure from these increases to transmit data at faster rates with improved signal quality and less heat. Due to their capacity to maximize power efficiency, lower the cost of data center servers per rack, and lower the cost per server, especially in open-standard applications where everyone can easily understand the value of these components, connectors play an especially significant role in data center hardware designs. This factor is expected to further drive the connector market
Numerous applications, including communications, data centers, inter- and intra-building applications, security systems, community antenna televisions, and high-density interconnections, require fiber optic connectors. The market is being driven by end customers' steadily rising need for high bandwidth. The demand for high-speed data services, such as online gaming, CATV, and audio and video services, is accelerating the expansion of the fiber optic connector market. Fiber optic connector systems are becoming more widely used in fields with high data security requirements, such as the aerospace and defense industries. even in severe conditions, can transform data effectively.
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CONNECTOR MARKET SHARE ANALYSIS
During the connector market forecast period, the Asia-Pacific region is anticipated to grow at the fastest rate because of the rise in smartphone demand, the surge in automotive production, industrial automation, and expansion in consumer electronics.
Throughout the projected period, the PCB Connectors segment will continue to hold the lead. The expansion of the computer, communication, and consumer electronics industries, the trend toward smaller electronic devices, and the rising proportion of electronics in vehicles serve as the main drivers for this market.
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Market By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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Key players
• 3M
• ABB Ltd.
• AMETEK
• Amphenol Corporation
• Aptiv PLC
• Huawei Technologies Co. Ltd.
• Japan Aviation Electronics Industry Ltd.
• Nexans
• Prysmian S.P.A.
• TE Connectivity Ltd.
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SIMILAR REPORTS
Fiber Optic Connector Market
https://reports.valuates.com/market-reports/QYRE-Auto-30K8988/global-fiber-optic-connector
Electric Vehicle Connector Market
https://reports.valuates.com/market-reports/QYRE-Auto-21B7208/global-electric-vehicle-connector
Cables and Connector Market
https://reports.valuates.com/market-reports/QYRE-Auto-18Z8079/global-cables-and-connector
Optical Fiber Data Connector Market
https://reports.valuates.com/market-reports/QYRE-Auto-17Y9847/global-optical-fiber-data-connector
Underwater Connectors Market
https://reports.valuates.com/market-reports/QYRE-Auto-12C7437/global-underwater-connectors
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