Automotive Sector Sector is Expected to Dominate the Global Cable Connector Market.
The
growing demand for media and entertainment and the increasing penetration of
the internet across emerging economies are a major factor attributable to the
growth of the market.
According to TechSci
Research report, “Global Cable Connector Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”. The Global Cable
Connector is anticipated to project robust growth in the forecast period with a
CAGR of 4.36% through 2028. The growing
demand for media and entertainment and the increasing penetration of the
internet across emerging economies led to the increase in the number of
television and internet subscribers and users of smartphones, PDAs, and
tablets. These factors created an immense demand for cable connector adapters,
without which effective networking cannot be established. The market for cable
connectors is booming, owing to the global digital transition. Reliable
connectivity, high performance, and efficiency are the major factors boosting
the market's growth. High-performance networks are essential for business,
manufacturing, security, and media. Furthermore, cables, such as USB Type-C and
HDMI, are hugely popular.
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Based on End User, Automotive
Sector is Expected to Hold Significant Market Share. The automotive sector is
projected to witness a strong demand for connectors, aided by the adoption of
highly advanced electronic systems, such as audio controls, driver assistance
systems, diagnostic systems, cruise control, and infotainment systems.
Moreover, the increasing popularity of electric vehicles is expected to boost
the market's growth. Some of the significant market trends in the segment
include innovations and design improvements to meet the quality and reliability
standards of devices, demand for versatile miniature connectors, the popularity
of RoHS - compliant, UL recognized, and IP -rated connectors, as well as
intelligent connectors with EMI/RFI suppression features. New automotive
technologies have altered the ways cars are wired. The critical electrical
components are required to reliably transmit power, signal, and data in
certified conditions. The hybrid electric and electric vehicle has expanded the
vision for applying robust connector technology from race cars to robotics in
the form of autonomous vehicles. This has led to a significant development in
design, material, as well as cable connectors.
Considering the
growing demand for connectors that can fulfill the requirements of modern
automobiles, the vendors offering cable connectors are increasingly focusing on
developing innovative products. For instance, in December 2021, Hirose Electric
developed a new wire-to-board connector, the GT50 Series. This small and robust
product series has a 1mm pitch and heat resistance up to 125-degree celsius,
making it ideal for use in automotive applications.
Based on Region, Asia-Pacific
to be the Fastest Growing Market. The continuous advancements in communication
technologies and the growth of other end-user industries in the Asia Pacific
region are among the significant factors boosting the development of the cable
connectors market. Moreover, the support by IT and communications for automated
processes in industrial applications have facilitated easier adoption among
manufacturers.
Sensor components,
faster networks, flexible interfaces with high levels of reliability and
secured hierarchical access, and error-correction options added to
productivity, continued quality deliveries and minimized manufacturing costs in
the region. Furthermore, with IoT at the center of new technological approaches
for the development, production, and the entire logistics chain (otherwise
known as intelligent factory automation), the adoption of cable connectors is
expected to increase significantly in the region. Furthermore, the growing
number of data centers and rising demand for higher bandwidth drive the need
for cables and connectors. China is highly focused on taking the lead over
global peers in data center construction, with larger enterprises looking to
scale up their data centers to ensure stability and reliability of data
services, such as the application of 5G, wearable devices, the internet of
things, and artificial intelligence spurs a burgeoning demand for computing
power.
The growth of the
automotive sector is also expected to be a vital contributor to the development
of the cable connectors market in the Asia Pacific region. For instance,
according to the China Association of Automobile Manufacturers (CAAM), about
2.9 million battery electric vehicles will be sold in China in 2021.
Key
market players in the Global Cable
Connector Market are following:-
- Amphenol Corporation
- Molex Inc. (Koch
Industries)
- Fujitsu Limited
- Prysmian SpA
- Nexans SA
- TE Connectivity
Limited
- 3M Company
- Huawei Technologies
Co. Ltd
- Axon Cable SAS
- Alcatel-Lucent SA.
- Osram GmbH
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“One of the key
drivers propelling the global cable connector market is the relentless growth
in data connectivity demands across industries. In today's digital era, data
has become the lifeblood of businesses and essential to personal life. This
insatiable appetite for data, driven by factors like the expansion of 5G
networks, the Internet of Things (IoT), and the ever-increasing reliance on
cloud computing, is a major force fueling the demand for high-performance cable
connectors. Cable connectors are the vital link that enables seamless data
transmission, power delivery, and signal integrity in a wide range of
applications, from smartphones and laptops to data centers and industrial
automation systems. As industries continue to push the boundaries of data
speed, capacity, and reliability, cable connectors play a central role in
meeting these evolving connectivity needs. This increasing demand for robust
and efficient cable connectors is expected to continue driving market growth as
connectivity remains at the heart of modern life and business operations.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Cable Connector Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented Type (PCB Connectors,
Circular/Rectangular Connectors, Fiber Optic Connectors, IO Connectors),
End-user Vertical (IT and Telecom, Automotive/Transportation, Consumer
Electronics, Industrial), By Region, Competition 2018-2028 has evaluated the future growth potential
of Global Cable Connector Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Cable Connector Market.
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