Connector Market Expected to Reach $168 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Connector Market, by Product, End User, and Material: Global Opportunity Analysis And Industry Forecast, 2023-2032" The connector market size was valued at $79.8 billion in 2022, and is estimated to reach $168 billion by 2032, growing at a CAGR of 7.9% from 2023 to 2032.

A connector stands as a fundamental element within communication systems, facilitating the transmission and reception of electromagnetic waves, including radio frequency (RF) signals, microwaves, and even light. Its central purpose is to convert electric signals into electromagnetic waves, propelling them into open space, or to transform received electromagnetic waves back into electrical signals, ready for further processing by electronic apparatus. Connectors exist in diverse forms and sizes, each fine-tuned for particular frequency ranges and applications. They are present in a variety of devices, spanning from smartphones, radios, and televisions to satellite communication setups and radar installations. The market is diverse, with a wide range of options available, including popular choices like RCA cables for audio and video connections, RJ45 connectors for networking applications, and quick connectors for efficient and secure electrical connections.

On the other hand, and connectors system presents a more comprehensive idea of enveloping not only the connectors itself but also the complementary components essential for optimal functioning. The connectors components are feedlines, serving to shuttle electrical signals to and from the connectors matching networks, responsible for efficiently coupling the connectors to the transmitter or receiver; and potentially signal amplifiers, tuners, and filters that heighten signal quality and reduce interference. The selection of connectors system architecture depends on factors such as desired frequency range, radiation pattern, gain, and environmental circumstances. Connectors systems are devised to fulfill precise performance benchmarks, such as achieving high gain for long-distance communication, broad coverage for cellular networks, or focused patterns for radar applications.

In essence, and connectors system constitutes the vital bridge connecting electronic devices with the surrounding environment, enabling wireless communication across various sectors. It assumes a pivotal role in dictating efficiency, coverage scope, and overall performance within a communication network or device. Designing and executing connectors systems demands an in-depth grasp of electromagnetics, signal processing, and engineering principles to ensure smooth communication and effective functionality across a spectrum of scenarios – extending from personal communication devices to intricate satellite communication networks and more for connector market growth.

The market is segmented into product, end user, material, and region. On the basis of product, the market is classified into PCB connectors, I/O connectors, circular connectors, fiber optic connectors, RF coaxial connectors, rectangular connectors, solar connectors, and patchcords. On the basis of end user, the market is categorized into consumer electronics, telecom, automotive, energy and power, aerospace and defense, and others. On the basis of material, the market is segregated into copper, aluminum, stainless steel, plastic, and others.

On the basis of region, the market is studied across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

On the basis of product, the market is categorized into PCB connectors, I/O connectors, circular connectors, fiber optic connectors, RF coaxial connectors, rectangular connectors, solar connectors, and patchcords. Patchcords is projected to be the fastest-growing segment and PCB connectors have garnered the highest share in the market.

On the basis of end user, the connector market share is categorized into consumer electronics, telecom, automotive, energy and power, aerospace and defense, and others. Telecom is projected to be the fastest-growing segment and automotive has garnered the highest share in the market.

On the basis of material, the market growth is classified into copper, aluminum, stainless steel, plastic, and others. Others material segment is projected to be the fastest-growing segment and copper has garnered the highest share in the connector industry.

KEY FINDINGS OF THE STUDY

• The global connector market was valued at $79,755.0 million in 2022.
• The PCB connectors segment was the highest revenue contributor to the market, with $21,565.6 million in 2022.
• The automotive segment was the highest revenue contributor to the market, with $19,339.1 million in 2022.
• The smartphones and laptops segment was the highest revenue contributor to the market, with $6,305.8 million in 2022.
• The telecom networks and signal segment was the highest revenue contributor to the market, with $10,464.6 million in 2022.
• The power generation segment was the highest revenue contributor to the market, with $5,937.3 million in 2022.
• The copper segment was the highest revenue contributor to the market, with $26,073.7 million in 2022.
• Asia-Pacific was the highest revenue contributor, accounting for $34,183.0 million in 2022.

Connector market analysis and profiles of the major market players that have been provided in the report include Foxconn Interconnect Technology Ltd, Huawei Technologies Co., Ltd. Koch Industries, Inc. (MOLEX), Aptiv PLC, Japan Aviation Electronics Industry, Ltd., ABB Ltd., TE Connectivity, Nexans, J.S.T. Mfg. Co., Ltd., Prysmian S.p.A., Amphenol Corporation, Foxconn Interconnect Technology Ltd Industry Co., Ltd., Ametek. Inc., 3M, and Hirose Electric Co., Ltd.