Design improvements, miniaturization and high functionality in a wide range of industries; growth in fiber optic deployments; rising importance of industrial automation; increasing demand for communication devices; and growing electronification in the automotive sector are poised to drive the global market for Connectors to reach US$91.1 billion by 2024.

As critical components in innumerable electronic devices and extension cable assemblies, connectors find widespread use in a gamut of applications and are available in variety of types ranging from Power Connectors, Audio Connectors, Modular (Telephone) Connectors, BNC and UHF Connectors, D-Shell Connectors, Edge Connector, Insulation Displacement Connectors (IDCs), 8P8C Connectors, D-Subminiature Connectors to USB Connectors.

There will always exist a steady and secure market for connectors given that electronics has evolved into the grease that oils the smooth functioning of virtually all sectors of the economy ranging from consumer durables, industrial equipment, and transportation to information technology. The market essentially remains technology driven with trends in design, material section, fabrication and assembly, dictated by technology changes in the electronics industry. The rapid proliferation of electronics in all walks of life ranging from manufacturing, automobile to telecommunication bodes well for the future of the market. With no foreseeable threat to the connector technology in conventional electronics, the future outlook remains fairly steady. Technology developments, over the decades, have resulted in incremental performance improvements making connectors capable of operating in the harshest of working environments.

Digitalization is driving changes in the connection technology landscape in terms of increase in the number of products as well as individual components that should be capable of communication and are essential too. Continuous performance enhancement of microchips is driving digitalization along with efforts towards improving resource efficiency which resulted in a shift towards more compact and smaller devices and products demanding more number of data connections. There is frequent utilization of hybrid cables that combine the data cables, power cable, and also the hoses for hydraulics and pneumatics in a single sheath. Accordingly, connectors are also required to be slimmer. While circular connectors are becoming leaner, modular connector systems are made of several contacts for a variety of cables in a single housing. The demand for enhanced performance of portable electronics is also resulting in new connector designs as well as modifications to established standards of connectors in a wide range of areas from military equipment to fast-moving IoT applications, where product lifetimes run for decades. In the longer-term, embedded systems featuring intelligent MEMS circuitry and developments in wireless and gesture/voice recognition systems may threaten the use of cabled connectors. For instance, a self-contained electronic device that combines computing and I/O functions and voice/speech recognition ability may be able to function without connectors. The drive towards miniaturization and reduction in chip density will also pose challenges for connectors in areas such as contact metallurgy, use of dielectric materials, barriers and contacts.

As stated by the new market research report on Connectors, Asia-Pacific and Europe represent the two largest markets worldwide. Trailing at a CAGR of 6.9% over the analysis period, Asia-Pacific ranks as the fastest growing market led by positive macro-economic cues, expanding industrial, business and commercial markets, robust consumer electronics industry, and increased demand for high-quality electronic interconnect solutions. PCB Connectors constitute the largest category, while RF Coaxial Connectors represent the fastest growing product category.

Major players in the market include 3M Company, Amphenol Corp., Aptiv PLC, AVX Corp., Carlisle Interconnect Technologies, China Aviation Optical-Electrical Technology Co, Ltd., CommScope, DDK Ltd., Esterline Technologies Corp., Souriau SAS, Glenair, Inc., HARTING Technology Group, Hirose Electric Co., Ltd., Hon Hai Precision Industry Co., Ltd., ITT Interconnect Solutions, Japan Aviation Electronics Industry, Ltd., JST Mfg. Co., Ltd., Molex, ODU GmbH & Co. KG, Rosenberger Hochfrequenztechnik GmbH & Co. KG, Sumitomo Wiring Systems, Ltd., TE Connectivity Ltd., Weidmuller Interface GmbH & Co. KG, and Yazaki Corp., among others.

The research report titled “Connectors – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America and Rest of World. The report also analyzes the Connector sales by Product Type – PCB Connectors, Rectangular I/O Connectors, Circular Connectors, RF Coaxial Connectors, and Other Connectors (includes IC Sockets and Application Specific Connectors among others). End-Use Sectors analysis covers Automobile, Computers, Telecommunications, Industrial, Aerospace & Defense, Consumer Electronics, Transportation, and Others (Business, Retail, Education and Medical).

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