The connector market is set to experience significant growth in the coming years, with opportunities emerging in various industries such as transportation, telecom/datacom, computer and peripheral, industrial, and consumer electronics. According to a recent study by Lucintel, the global connector market is projected to reach a value of $98.0 billion by 2030, up from $74.1 billion in 2023, representing a compound annual growth rate (CAGR) of 4.0% during the forecast period.
The growth in this market is being primarily driven by the expansion of communication and consumer electronics industries, the trend towards miniaturization of electronic devices, and the increasing electronic content in vehicles. To gain a deeper understanding of the trends, opportunities, and forecast in the connector market, you can explore a comprehensive 231-page report from Lucintel, which includes 95 figures/charts and 73 tables.
The report delves into various aspects of the connector market, including product types (such as PCB connectors, fiber optic connectors, rectangular I/O, RF coax, application-specific connectors, circular connectors, IC sockets, and others), end-use industries (transportation, consumer electronics, computer and peripherals, industrial, telecom/datacom, and others), and regions (North America, Europe, APAC, and the Rest of the World).
According to Lucintel’s forecasts, PCB connectors are expected to remain the largest segment, driven by growth in the computer, consumer electronics, and communication industries. The transportation sector is also expected to witness significant growth, fueled by the increasing electronic content in vehicles, the rising demand for safety systems, and the growing popularity of hybrid and electric vehicles.
Asia Pacific is expected to maintain its position as the largest region in the connector market, with the highest growth projected during the forecast period, supported by the increasing automotive production in the region. Key players in the market include TE Connectivity, Amphenol Corporation, Molex Incorporated, Hon Hai Precision Industry, and others.
This research report from Lucintel will provide you with valuable insights to make informed business decisions in the competitive global marketplace. For more information and a detailed table of contents, you can contact Lucintel at +1-972-636-5056 or email helpdesk@lucintel.com. You can also access more than 1000 reports at a fraction of the cost through Lucintel’s Analytics Dashboard.
About Lucintel:
Lucintel is a trusted advisor for over 1,000 clients, offering solutions for growth through innovative ideas and robust market analysis. Based in Dallas, TX, Lucintel has been quoted in publications like the Wall Street Journal, ZACKS, and the Financial Times.
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In conclusion, the connector market is poised for growth, driven by advancements in communication and consumer electronics industries, as well as the increasing electronic content in vehicles. With the right insights and market analysis, businesses can capitalize on the opportunities in this dynamic industry.