Global Connector Market Size, Share, Growth Analysis, By Product Type(PCB Connectors, I/O Connectors), By End-User(Consumer Electronics, Telecom) - Industry Forecast 2024-2031

Report ID: SQMIG20B2040 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 74

Global Connector Market News

Molex is a manufacturer of electronic, electrical, and fiber optic connectivity systems supplying primarily to data communications, medical, industrial, automotive and consumer electronics sectors. This producer was bought by Amphenol in February 2023. Amphenol is a major producer of electronic and fiber optic connectors, cable and interconnect systems.

TE Connectivity is a technology company that designs and manufactures connectors and sensors for a variety of industries. They reported in January 2023 about their upcoming release of a new line of optical connectors for 5G applications.

Hirose Electric is a Japanese company specializing in the manufacturing of electric connectors.They stated in March 2023 that they had developed a new high-speed connector. This device can transmit data speedily, at up to 100 Gbps.

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Global Connector Market size was valued at USD 83.2 billion in 2022 and is poised to grow from USD 86.86 billion in 2023 to USD 122.58 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

A mixed blend of market participants occupy the competitive ecosystem of the connector market. From specialized niche suppliers to well-developed global producers, all players are vying for market share. Some top names in the market include Amphenol Corporation, Molex, TE Connectivity, and Hirose Electric Co. 'JAE Electronics', 'Molex', 'Amphenol Corporation', 'Delphi Technologies', 'TE Connectivity', 'Hirose Electric Co., Ltd.', 'Kyocera Corporation', 'Phoenix Contact', 'Yazaki Corporation', 'Foxconn Interconnect Technology (FIT)', 'HARTING Technology Group', 'ITT Inc.', 'Panduit', 'Samtec', 'Smiths Interconnect', 'Würth Elektronik', 'Rosenberger Group', 'OMRON CorporationNorComp Inc.', 'AVX Corporation'

The global population has adapted well with the modern digital age. In this context, consumers have boosted the demand for consumer electronics. These devices can be applied to various tasks. These include communication, entertainment, and recreation. These devices fuel the need for connectors for better connectivity across all systems maintaining efficiency and overall performance.

Miniaturization and High-Density Connectors: Miniaturized connectors are gaining popularity in the market. There is a growing trend of evolving towards more compact electronic devices. Consumers are looking for products that occupy little space but offer the same level of functionality. In response to this, manufacturers are bringing forth high-density connectors that are smaller but allow several connections.

North America leads the regional segment of the connector market. Its large share can be credited to its high number of technology companies and thriving infrastructure of advanced technology, coupled with a growing need for consumer electronics. North America was one of the early adopters of up-and-coming technologies like IoT and 5G. Their commitment to further technological innovation has led to their supremacy. These factors have bolstered the demand for connectors in this region.

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Global Connector Market Size, Share, Growth Analysis, By Product Type(PCB Connectors, I/O Connectors), By End-User(Consumer Electronics, Telecom) - Industry Forecast 2024-2031

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