Cables and Connectors Market : Understanding the Key Product Segments and their Future
The connectors comprise plugs and jacks referred to as male-ended and female-ended respectively. Connectors are also sometimes referred to as input-output connectors and form the interface for linking electronic devices with the help of cables. Increasing demand for delivering higher bandwidth internet and reduction in loss of signal strength are some of the factors likely to affect the global cables and connectors market.
Factors such as requirement of greater bandwidth, higher current, higher speed, and higher voltage are likely to drive the growth trajectories of the global cables and connectors market. Further, growth of the commercial aerospace industry is also anticipated to push the growth of the market owing to increasing need for light weight solutions.
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Frequent wear and tear of cables and connectors are expected to create mild restraining effects in the growth of the market. Owing to their large scale use in the submarine industry, these wires are exposed to severe damage which may prevent the transmission of signals and hamper the execution of ongoing operations.
The global cables and connectors market can be segmented based on type of cables and connectors, components, end-use industry, and geography.
Based on type of cables and connectors, the market can be bifurcated into USB, HDMI, CAT5, SATA, and others. USB or Universal Serial Bus is a type of cable and connector which is used to transmit power supply and information between computers, mobile phones, and other electronic devices. HDMI or High Definition Multimedia Interface is used for transmitting uncompressed digital video and audio data from a display controller to a computer monitor, digital television, or a video projector.
Further CAT5, or category 5 cable and connectors are used for transmitting telephonic and video signals. Moreover, SATA or serial ATA is used for connecting hard drives, solid state, and other drives such as CD and DVD drives to computers. Owing to increasing use of consumer electronics such as computers, laptops, mobile phones, and tablets, the USB segment is expected to hold considerable share over the forecast period.
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Based on components, the global cables and connectors market can be further segmented based on electronic and mechanical connectors, cable assemblies, and others. Electrical and mechanical connectors are used for folding and pressing tools and die sets. These cables and connectors are usually made of copper and aluminum and ensure reliable and fast electrical jointing connecting connections. Further, cable assembly refers to a collection of cable wires and connectors clubbed together into a single unit.
Based on end-use industry, the market can be further sub-divided into aerospace, military and defense, automotive, consumer electronics, oil and natural gas industry, and others. The consumer electronics industry is expected to hold considerable market share over the forecast period; however, the automotive industry is expected to grow with the highest CAGR during the forecast period.
Based on geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Some of the key players operating in the cables and connectors market are Huawei Technologies Co. Ltd., Amphenol Corp., Esterline Technologies Corp., Alcatel-Lucent, TE Connectivity Ltd., Prysmian Group, Esterline Technologies Corp., Molex, Inc., Nexans S.A., and Axon Cable among others.
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