Electronic Connector Market - A Global and Regional Analysis: Focus on Application, Product Type, and Country - Analysis and Forecast, 2023-2032
Global Electronic Connector Market: Industry Overview
The global electronic connector market is projected to reach $123.90 billion by 2032 from $78.98 billion in 2022, growing at a CAGR of 4.66% during the forecast period 2023-2032. The growth in the global electronic connector market is expected to be driven by increasing demand for advanced and efficient electronic connectors from applications such as automotive and transportation, computers and peripherals, and telecommunications.
Market Lifecycle StageAn electronic connector functions as a component facilitating a seamless connection between electrical circuits, and its sales in the market are growing moderately due to the diversity of electronic connectors in various applications. Key market development activities are expected to be boosted by the emergence of electric vehicles, autonomous vehicles, the fifth generation of cellular mobile communications (5G), the Internet of Things (IoT), and Robotics.
The electronic connector market is in the maturity phase. Surging demand for high-performance electronic connectors in advanced electronic devices is pushing the electronic connector market. The electronic connector market is also driven by the implementation of Industry 4.0 by manufacturing industries.
Market Segmentation:
Segmentation 1: by ApplicationComputers and Peripherals
Consumer Electronics
Automotive and Transportation
Telecom
Energy and Power
Others (Industrial, Military, and Medical, among others)
The automotive and transportation segment dominated the global electronic connector market in 2022. The automotive and transportation segment is expected to be the largest segment in the forecast period, as the number of electronics components per vehicle is expected to rise significantly in the upcoming years. Electronic connectors play a pivotal role within the transportation sector, facilitating the operation, safety, and connectivity of diverse transportation methods and systems.
Segmentation 2: by Product TypeI/O Connectors
Printed Circuit Board (PCB) Connectors
RF Coaxial Connectors
Fiber Optic Connectors
Others (Circular Connectors, Rectangular Connectors, and others)
Based on the product type segment, the electronic connector market is expected to be dominated by the printed circuit board (PCB) connectors segment during the forecast period due to obligatory demand from various applications for connecting different PCBs and having communication between them. However, the growing demand for compact and efficient devices from consumers is propelling growth in the PCB connectors segment within the electronic connector market. With the emergence of e-mobility applications, it is expected to see a substantial rise in the product launches of high-voltage PCB connectors in the forecast period (2023-2032) of the electronic connector market.
Segmentation 3: by RegionNorth America
Asia-Pacific and Japan
China
Europe
U.K.
Rest-of-the-World
In the year 2022, China was the largest region in the electronic connector market due to the significant automotive production and large-scale telecommunications industry in the country. However, the Rest-of-the-World and Asia-Pacific and Japan electronic connector markets are expected to grow at a high growth rate during the forecast period (2023-2032). The rapid adoption of electric vehicles in China is expected to drive the China electronic connector market substantially in the forecast period (2023-2032).
Recent Developments in the Electronic Connector MarketIn February 2023, TE Connectivity (TE) partnered with Preddio Technologies (Preddio) to integrate Preddio's wireless technology and cloud-based analytics with TE's energy-efficient sensors.
In July 2023, Amphenol Communications Solutions, which is a global connector leader, launched the ExaMAX2 Gen2 during the 2023 Electronica China. ExaMAX2 Gen2 offers notable performance enhancements over ExaMAX2 Gen1 as an improved version of the ExaMAX2 family. With this improvement, the ExaMAX2 connector is expected to have one of the highest levels of signal integrity (including reflection and isolation) among 112G connectors.
In September 2022, Molex expanded its current manufacturing operations in Hanoi with the addition of a new 16,000-square-meter facility, and the expansion would enable the creation of nearly 200 new jobs in advanced high-tech manufacturing.
In July 2022, Luxshare Precision Industry Co., Ltd. formed a partnership with Panthronics AG, which is a fabless semiconductor business focusing on high-performance wireless technology, with an aim to introduce Near-field communication (NFC) wireless charging in consumer electronics
In March 2022, Japan Aviation Electronics Industry, Ltd. collaborated with Yamaichi Electronics Co., Ltd. to build a high-speed jumper cable connector prototype that supports the 112Gbps PAM4 signal on data networking systems.
Demand - Drivers and Limitations
The following are the drivers for the electronic connector market:Rapidly Increasing Demand for Electrical Connectors in the Automotive Industry
Increasing Adoption of the Internet of Things (IoT)
Growing Demand for Renewable Energy Sources
The market is expected to face some limitations due to the following restraints:Intricate Design and Process of Manufacturing
Elevated Corrosion Levels and the Occurrence of Loose Connections
High Implementation Cost and Availability of Alternatives
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of electronic connector products available by product type (I/O connectors, printed circuit board (PCB) connectors, RF coaxial connectors, fiber optic connectors, and others (circular connectors, rectangular connectors, and others)), by application (computers and peripherals, consumer electronics, automotive and transportation, telecom, energy and power, others (industrial, military, and medical, among others)). Increasing automotive and transportation demand worldwide is pushing the sales of electronic connector systems. Therefore, the electronic connector business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The global electronic connector market is exponentially growing, with enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategies have been product launches, partnerships, and collaborations to strengthen their positions in the global electronic connector market.
Competitive Strategy: 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.
Key Companies Profiled:
TE Connectivity
Amphenol Communications Solutions
Molex
Luxshare Precision Industry Co., Ltd.
Aptiv
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.
Weidmüller Interface GmbH & Co. KG
WAGO
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