The global Electronic Connector Market is poised for substantial growth, with projections indicating a rise from $78.98 billion in 2022 to an estimated $123.90 billion by 2032. This remarkable expansion is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.66% during the forecast period 2023-2032.
The driving force behind this growth is the increasing demand for advanced and efficient electronic connectors across diverse applications, including automotive and transportation, computers and peripherals, and telecommunications.
Market Lifecycle Stage
The Electronic Connector Market is currently in the maturity phase, experiencing moderate growth due to the widespread use of electronic connectors in various applications. Key developments in the market are being accelerated by the emergence of electric vehicles, autonomous vehicles, 5G cellular mobile communications, IoT, and robotics. The market is also benefiting from the implementation of Industry 4.0 by manufacturing industries.
Market Segmentation
The market is segmented based on various criteria:
By Application
Computers and Peripherals
Consumer Electronics
Automotive and Transportation
Telecom
Energy and Power
Others (Industrial, Military, Medical, etc.)
The automotive and transportation segment led the global Electronic Connector Market in 2022 and is expected to continue its dominance during the forecast period. With a significant increase in the number of electronic components in vehicles, electronic connectors play a pivotal role in ensuring the operation, safety, and connectivity of various transportation systems.
The Printed Circuit Board (PCB) connectors segment is expected to dominate the market during the forecast period due to the obligatory demand for connecting different PCBs and facilitating communication between them. With the growing consumer demand for compact and efficient devices, the PCB connectors segment is witnessing significant growth. Moreover, the emergence of e-mobility applications is expected to drive the launch of high-voltage PCB connectors.
By Region
North America
Asia-Pacific and Japan
China
Europe
U.K.
Rest-of-the-World
China held the largest share of the Electronic Connector Market in 2022, driven by significant automotive production and a thriving telecommunications industry. However, the Rest-of-the-World and Asia-Pacific and Japan markets are expected to experience high growth rates during the forecast period, particularly due to the rapid adoption of electric vehicles in China.
Recent Developments
The Electronic Connector Market has seen noteworthy developments, including partnerships and product launches:
TE Connectivity partnered with Preddio Technologies to integrate wireless technology and cloud-based analytics with energy-efficient sensors.
Amphenol Communications Solutions launched the ExaMAX2 Gen2 connector, offering significant performance enhancements for 112G connectors.
Molex expanded manufacturing operations in Hanoi, creating new jobs in advanced high-tech manufacturing.
Luxshare Precision Industry partnered with Panthronics AG to introduce Near-field communication (NFC) wireless charging in consumer electronics.
Japan Aviation Electronics Industry collaborated with Yamaichi Electronics to build a high-speed jumper cable connector prototype supporting 112Gbps PAM4 signals.
Demand Drivers and Limitations
Drivers for the Electronic Connector Market include the rapidly increasing demand for electrical connectors in the automotive industry, the adoption of IoT, and the growing demand for renewable energy sources. However, limitations such as intricate manufacturing processes, corrosion, and high implementation costs may pose challenges.
Key Companies Operating in The Market
Key players in the global electronic connector market analyzed and profiled in the study involve electronic connector-based product manufacturers and start-ups. Moreover, a detailed competitive benchmarking of the players operating in the global electronic connector market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include TE Connectivity, Amphenol Communications Solutions, Molex, Luxshare Precision Industry Co., Ltd., Aptiv PLC, Foxconn Interconnect Technology Ltd, YAZAKI Corporation, Japan Aviation Electronics Industry, Ltd., Rosenberger Group, HIROSE ELECTRIC CO., LTD., AVIC Optoelectronics Technology Co., Ltd., Sumitomo Wiring System, Ltd., Samtec, HARTING Technology Group, BizLink Group, Phoenix Contact, LOTES CO., LTD., shenzhen Deren Electronics co., LTD., Korea Electric Terminal Co., Ltd., Belden Inc., KYOCERA AVX Components Corporation, HUBER+SUHNER, IRISO Electronics Co., Ltd., SOURIAU - SUNBANK Connection Technologies, Glenair, Radiall, Hosiden Corporation, Yamaichi Electronics Co., Ltd., ITT Inc., Carlisle Interconnect Technologies, Corning Incorporated, LEMO Group, I-PEX Inc., Weidmuller Interface GmbH & Co. KG, and WAGO.
Key Questions Answered in the Report
What are the major market drivers, challenges, and opportunities in the electronic connector market?
How does the supply chain function in the electronic connector market work?
Which are the key application areas for which different electronic connectors may experience high demand during the forecast period 2023-2032?
What are the key development strategies deployed by the key players to sustain in the market, and what are some of the initiatives taken by new entrants within this ecosystem?
Which regions and countries are most effectively utilizing electronic connectors?
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