High Speed Connector Market to Grow at a CAGR of 8.3% to reach US$ 5,658.42 Million from 2020 to 2027

High Speed Connector Market to 2027 - Global Analysis - by Product (Board-to-Cable, Board-to-Board, and Others) and Application (Communication, Automotive, Aerospace & Defense, Energy & Power, Electronics, and Others)

The electronics, automotive, communication, and networking industry are continuously evolving with innovations in product offerings to support high speed data transfer. The rising demand for compact and flexible connector design to ease the connectivity is propelling the market growth. An advent of IoT and big data technology in 4K television, 5G wireless networks, and wearable devices are creating a surge in demand for more data transfer solutions. As a result, the market players are focusing on developing faster, smaller, and efficient high speed connector Further, increasing disposable income is enhancing the purchasing capacity of the consumers, which, in turn propels the sales of smartphones, computers, and home network connecting devices, among others.

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These new electronic devices need to perform faster data transfer with minimal signal losses, for which major companies are selecting high speed connectors. The automotive manufacturers are installing more electronic and infotainment systems in vehicles to provide high connectivity, which promotes the connector manufacturers to design efficient and compact solutions meeting the requirement. Increase in the adoption of internet services in North America, Asia, and the European region owing to the COVID-19 pandemic, a majority of the population is working from home. Thus, the demand for home networking devices, fiber optic connections, and computers, among others is soaring and creating lucrative growth factors for the market in COVID-19 pandemic situation. The number of data centers is escalating with the emerging need for data storing applications. Hence, to transfer the data in cloud servers there is a necessity for higher-speed connectivity solutions. Such demand for high speed connector is propelling the growth of the market.

Top Company Profiles:
Molex, LLC
Samtec
TE Connectivity
HIROSE Electric Co., Ltd.
Yamaichi Electronics Co., Ltd
Neoconix, Inc.
FUJITSU
OMRON Corporation
IMS Connector Systems
OUPIIN Enterprise Co., Ltd

The COVID-19 pandemic is hindering the economic growth of almost every country. The restrictions on production activities and reduced sale of electronics are disrupting the semiconductor industry, whereas rising need for faster network at home lowered the impact of this downturn on market growth. However, the demand for high speed connector has remained stable or increased in communication and electronics sector. On the other hand, the purchase of high speed connector is reduced or zero as the pandemic has hindered the automotive, aerospace and defense, energy and power, and others sectors. Hence, the high speed connector market is witnessing mixed impact of the pandemic. Large number of manufacturing companies are facing major loss due to low demand from OEMs. Lowering number of the automotive sale, electronics sale, aircraft and others is reducing the demand of high speed connector, which is hampering the high speed connector market growth in the COVID-19 pandemic.

Growing networking and communication sector and increasing electronics and infotainment systems in automotive sector drive the growth of the global high speed connector market. However, the high cost of connectors and technical challenges hinder the market growth. Despite limitations, rising developments in network services 5G network is among the major factors anticipated to bolster the growth of the high speed connector market.

Key Findings of Study:
The global high speed connector market is segmented into five major regions-North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and South America (SAM). North America held the largest share of the market in 2019, followed by Asia Pacific and Europe. Further, the market in Asia Pacific is projected to grow at the highest rate during the forecast period.
Significant strategic initiatives by several industry players are observed in the high speed connector market. For instance, on March 2019, Molex, LLC launched new 1.25mm pitch slim stack floating board-to-board connectors. They are specially designed to prevent fretting corrosion and increase contact reliability. Also, they are vibration resistant. The connector is used in the automotive field, making it a desirable option for car column switches. Moreover, TE Connectivity launched MULTIGIG RT 3 and MULTIGIG RT 2-S in February 2019. These are next-generation lightweight, rugged, and high speed backplane connectors designed to meet the interface dimensions for VITA 46 VPX connectors.

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By Product:
Board-to-Cable
Board-to-Board
Others

By Application:
Communication
Automotive
Aerospace and Avionics
Energy and Power
Electronics
Others

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This release was published on openPR.