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Electronic Connector Market to Eyewitness Stunning Growth by 2033 | BIS Research

BIS Research
Electronic Connector Market to Eyewitness Stunning Growth by 2033 | BIS Research

An electronic connector is a device that establishes an electrical and mechanical connection between electronic components or circuits. It enables the transfer of signals, power, or data between these components, often through pins, sockets, or conductive interfaces, facilitating the functioning of electronic devices and systems. Electronic connectors were first developed in the late 19th century and have become increasingly advanced and specialized over time. Today, there are thousands of different types of electronic connectors available, each designed for a specific application.

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.

Growing demand for fiber to the home (FTTH) and high bandwidth internet is fueling the growth of optic fiber connectors in the market. The key drivers for the RF-coaxial electronic connector market include the need for reliable and efficient transmission of signals between electronic devices and the growing demand for high-frequency transmission for wireless-enabled devices and fixed communication systems. The usage of printed circuit board (PCB) connectors is being significantly driven by the rising use of automation and robots, as well as the burgeoning automotive industry. The market for input-output (I/O) electronic connectors is being driven by an increase in the use of connectors due to the proliferation of various electrical and electronic devices.

Printed Circuit Board (PCB) Connectors to Hold Significant Market Share in the Electronic Connector Market (by Product Type)

Based on product type, printed circuit board (PCB) connectors currently dominate the electronic connector market in comparison to its counterpart segments. The demand for printed circuit board (PCB) connectors is increasing day by day with the advancement of technology and increasing usage of electronics in every application. The need for efficient, more compact, and reliable devices from end users is driving the PCB connectors segment in the global electronic connector market. It is expected to see a substantial rise in the product launches of PCB connectors for high-voltage applications in the forecast period with the emergence of e-mobility applications. PCB connectors enable the smooth transfer of both data and power among various components, modules, and subsystems, facilitating effective communication and coordination in automation and robotics.

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Automotive and Transportation Segment to Dominate the Electronic Connector Market (by Application)

Based on application, the automotive and transportation segment is projected to surpass other segments due to the increasing adoption of advanced electronics in automotive and transportation vehicles. The growth in both ICE and EV passenger vehicle production in the forecast period is expected to drive considerable growth in the automotive and transportation electronic connector market. Electronic connectors are essential components in the transportation industry, enabling the functionality, safety, and connectivity of various transportation modes and systems.

For example, electronic connectors are used in aircraft for avionics systems, such as flight control systems, communication systems, navigation equipment, and in-flight entertainment. They ensure reliable data transmission and system operation in the aviation industry.

China to Dominate the Electronic Connector Market (by Region)

China currently holds the largest market share in the electronic connector market. China's dominance can be attributed to the higher demand for electronic connectors for various applications such as automotive and transportation, computers and peripherals, and telecom. Electric vehicles use more connectors per vehicle than internal combustion engine (ICE) vehicles. China is the largest market for electric vehicles and, therefore, the leading market for electric vehicle electronic connectors. North America, on the other hand, is the second-largest region in the electronic connector market.

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 Notable electronic connector manufacturers such as Amphenol Communications Solutions, Molex, Samtec, and BizLink Group are actively increasing the manufacturing of electronic connectors in the region to meet the growing demand. Geopolitical tensions in China may hamper the growth of the China electronic connector market in the forecast period 2023-2032. China has a wide range of suppliers and manufacturers that manufacture electronic components, making the China electronic connector market more stable.

Competitive Landscape

To gain market share, major electronic connector companies are making various kinds of strategic moves. Some key highlights from BIS Research with respect to manufacturers of the electronic connector market are as follows:

  • TE Connectivity, Amphenol Communications Solutions, Molex, and Luxshare Precision Industry Co., Ltd. are some of the leading players globally.
  • I-PEX Inc., Sumitomo Wiring Systems, Ltd., and Yamaichi Electronics Co. are some of the emerging private companies.
  • Partnerships, collaborations, and joint ventures have been the most preferred strategies in the market.
  • Apart from partnerships, collaborations, and joint ventures, expanding businesses and new product launches are the other strategies being implemented.
BIS Research
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