Solid State Connector Market - Industry Analysis, Growth and New Market Opportunities Explored
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In order to provide detailed analysis regarding solid state connector market, the market has been segmented on the basis of connector style, application, end use and geography. Based on connector style, the global solid state connector marker can be classified into plug, receptacle, wire-to-board and wire-to-wire connector. On the other hand, solid state connector also finds its application across various comms room or server room and outdoor LED lighting. On the basis of end use, solid state connector is generally applied to a printed circuit board and wire or cable. Detailed information regarding all the above mentioned segment in respect of various regions including Europe, North America, Asia Pacific, Middle-East and Africa (MEA) and Latin America is also highlighted in this report.
Initiatives taken by the government to encourage the installation of solid state lighting in order to save considerable amount of energy is the primary factor predicted to boost the demand of solid state connector during the forecast period. According to Department of Energy (DOE), the solid state lighting in anticipated to become the dominant lighting technology in the coming years. This in turn is expected to create a better opportunity for various solid state connector manufacturers across the globe. Moreover, increasing environmental concern across different regions especially in North America, Europe and Asia Pacific is also predicted to augment the market growth of solid state connectors. Considerable efforts are being made by different industrial, commercial and residential sectors to reduce carbon emission through lighting and displays. LEDs helps to keep the environment pollution free and results in less emission of greenhouse gasses (451 pound/ year) as compared to conventional lighting. Moreover, LEDs produces 90% less heat than incandescent and CFL bulbs. Consequently, the demand for LEDs are increasing which in turn is anticipated to boost the demand of solid state connectors rapidly.
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However, lack of awareness and high switching cost are some of the major factors predicted to restrain the market growth of solid state connectors during the forecast period. Moreover, even those who are aware of this new technology are differing from there decision owing to huge cost required to modernize the existing lighting system. This factors in turn is expected to affect the global solid state connector market negatively.
Based on application, the global solid state connector market is majorly driven by the outdoor LED lighting segment during the forecast period. On the other hand, comms room is predicted to witness the most promising market in the coming years. Rapid growth and development of information technology sector and telecommunication sector globally is anticipated to trigger the need of modernization of server rooms. This in turn is expected to accelerate the demand of solid state connectors in the coming years.
Geographically, North America held the largest share in the in the solid state connector market. Presence of large number of solid state connector manufacturers in this region is the primary reason behind this region’s dominance. However, in terms of growth, Asia Pacific region is predicted to dominate the global solid state connector market. Various initiatives taken by the government to reduce the demand for conventional lighting in lieu of power efficient and high resolution lighting technology is the primary factor responsible to drive the demand of solid state lighting connector during the during the forecast period.
Some of the major players operating in the solid state connector market include TE Connectivity (Switzerland) and Texas Instruments (U.S) among others.
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