Fort Collins, Colorado, Sept. 07, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Connectors Market Size, Share, Growth, Trends, Statistics Analysis Report, By Product (PCB & I/O Connectors, Circular, Fiber Optic, RF Coaxial, Others), By End-use (Consumer Electronics, Telecom, Energy & Power, Aerospace & Defense, Automotive, Others), By Region, And Segment Forecasts, 2023-2032."
According to DataHorizzon Research, the connectors market size was valued at USD 77.3 Billion in 2022 and is expected to reach USD 172.5 Billion by 2032 with a CAGR of 8.4%. Connectors are electrical components available in various sizes and shapes They can be classified in terms of design for various applications in industries such as aerospace, consumer electronics, telecommunications, and others. The growing popularity of rectangular and circular connectors in the consumer market is second to the market developments in the past few years.
The connectors market growth is significantly driven by the rise in digitization across several sectors. The growing demand for fiber optics for internet needs will contribute to industry development in the following years. Besides, connectors are employed to fulfill automotive needs in the automobile industry.
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Connectors Market Report Highlights:
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The connectors market worth is expected to be USD 172.5 billion by 2032 at a CAGR of 8.4% in 2032.
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Connectors market development include growing popularity among consumers and the availability of connectors of various size and shapes.
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PCB connectors dominate the market by product due to their popularity in the electronics and semiconductors industry.
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Asia Pacific is a dominant market and is projected to attain a prominent position in the forthcoming years. The regional markets are home to several technological startups with strong market positions at the global level.
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Some of the prominent players in the connectors market report include Pfizer Inc., Mylan N.V., Novartis International Ag, Eli Lily and Company, Merck & Co., Inc., GlaxoSmithKline Plc (Gsk), Purdue Pharma L.P., Endo Health Solutions, Inc. (Endo International Plc.), Johnson & Johnson, and Abbott Laboratories.
Report Snapshot:
| Report Title | Connectors Market |
| Market Size in 2022 | USD 77.3 Billion |
| Market Size by 2032 | USD 172.5 Billion |
| CAGR from 2023 to 2032 | 8.4% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations and Forecast, Competitor Analysis, Trends, and Growth Factors |
| By Product | PCB & I/O Connectors, Circular, Fiber Optic, RF Coaxial, Others |
| By End-use | Consumer Electronics, Telecom, Energy & Power, Aerospace & Defense, Automotive, Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S.A, Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Aptiv, Samtec, Volex, 3M, Amphenol Corporation, Hirose, Molex Incorporated, Huawei, Prysmian, ABB, and Nexans |
Segmentation Overview:
The global connectors market has been segmented as product, end-use, and region. Due to the growing demand for consumer electronics and automobiles, PCB connectors maintain a leading position in the product segment. Regarding end-use, automotive accounted for a large share in 2022 and is projected to maintain a leading position throughout the forecast period.