Connectors serve as an important factor to meet critical interconnection needs in any industry. Electronic signals play an important role in connecting the I/O part of an electrical device to the internal controls of a machine or another device. Connectors are used in various industries such as automation, computer and peripherals, transportation, consumer electronics, and telecommunications. Transportation and automotive industry holds the largest market share, however, PCB connectors accounts for the largest domain wherein they are used.
The future of the global connector market looks promising with the presence of high speed connectivity. Moreover, advanced product features, as well as innovations and product developments, are driving the growth of the market. On the other hand, smart building technologies, increasing electronic content, and miniaturization of electronic devices are attracting consumers towards the product with the varied number of uses in different industries. Moreover, increasing dependency on the 3C applications (Computing, Communication, Consumer) is projected to foster the market demand.
Furthermore, the presence of numerous manufacturers has increased competition in terms of quality and technological advancements, which is giving edge to various mergers and acquisitions in the global market.
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Growth in China is solidifying the dominance of APAC in the global connector market
Asia pacific is expected to remain the largest market for the connectors worldwide and will continue its dominance over the forecast period with the highest growth rate. The growth in this region is supported by automotive production, increasing dependency on tablets and smartphones, rising automotive transportation and industrial automation, and increasing demand for home appliances in the countries such as India, and China. Moreover, increasing awareness among consumers and government regarding air pollution is rising the demand for electrical vehicles, which is a key factor for boosting the growth of the market.
The connector market has been dominated by U.S., since 1998. The top 10 global players were from the America itself. However, with technological advancements and rapid developments, the Asia Pacific region is witnessing enormous growth. Additionally, China is the largest connector market with the fastest and the highest growth rate worldwide.
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Increasing use of connectors in various electronic devices such as navigation, brake, cruise control, and steering is projected to show enormous opportunities over the forecast period. Additionally, the demand of high power connectors is also witnessed to show ample opportunities in near future. With the presence of a large number of small- and large-scale suppliers in the market, there’s an immense opportunity to improve quality with innovation and introduce new technologies, so as to boost the demand.
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