Global Connector Market Size to worth USD 155.85 Billion by 2033: Market Insight Report

Global Connector Market Size to worth USD 155.85 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Connector Market Size is Expected to Grow from USD 81.49 Billion in 2023 to USD 155.85 Billion by 2033, at a CAGR of 6.70% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Connector Market Size, Share, and COVID-19 Impact Analysis, By Product Type (PCB Connectors, I/O Connectors, Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors, and Others), By End-User (Consumer Electronics, Telecommunications & Networking, Automotive, Energy & Utilities, Government & Defense, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

The connector is a coupling device that joins electrical terminations to generate electrical circuits. They are the crucial intermediaries within the electronic and electrical systems. Their main purpose is to create a reliable and safe connection between various devices so that data, power, or signals can be transmitted. Due to the emerging 5G and IoT technology, the growing telecom and automotive sectors drive the demand for connectors, thereby offering lucrative market growth opportunities. The rising applications in IoT and smart technologies, electric vehicles, advancement in wireless charging, industry 4.0 initiatives, and emerging healthcare and wearable devices are propelling the market growth. Further, the increasing use of automation technology and consumer electronic devices with rapid urbanization is driving the connector market. On the contrary, the need for large spacing on boards and the inability of connectors like board-to-board connectors to connect a large number of pins are challenging the market growth.

The PCB connectors segment dominated the global connector market with the largest market share in 2023.

Based on the product type, the global connector market is divided into PCB connectors, I/O connectors, circular connectors, fiber optic connectors, RF coaxial connectors, and others. Among these, the PCB connectors segment dominated the global connector market with the largest market share in 2023. PCB connector ensures the seamless connection of electronic components, accommodating the complex wiring and connectivity requirements. The miniaturization of electronic devices and the increasing popularity of electric vehicles are driving the market in the PCB connector segment.

The consumer electronics segment accounted for the largest market share of the connector market in 2023.

Based on the end-user, the global connector market is divided into consumer electronics, telecommunications & networking, automotive, energy & utilities, government & defense, and others. Among these, the consumer electronics segment accounted for the largest market share of the connector market in 2023. Connectors in consumer electronics allow for the interconnection of internal components including displays, memory modules, microprocessors, and cameras. The growing demand for efficient power transmission in consumer electronics is driving the market.

Asia Pacific is projected to hold the largest share of the global connector market over the forecast period.

Asia Pacific is projected to hold the largest share of the global connector market over the forecast period. The increasing demand for high-speed data transmission in computers and peripherals is driving the market. Further, the thriving telecommunications, computer networking, and automotive sectors are bolstering the market demand. The expansion of the automotive sector along with rapid industrialization & urbanization in the region are contributing to propelling the market demand.

Europe is predicted to grow at the fastest CAGR in the connector market over the forecast period. The increasing demand for sophisticated and effective electronic connectors for various applications such as automotive & transportation, computers & peripherals, and telecommunications are significantly driving the market. Europe's constant commitment to technological advancement fuels the need for creative connectors that meet the changing demands of the sector.

Competitive Analysis

Major key players in the connector market include TE Connectivity, Molex, Amphenol Corporation, Hongteng Precision Technology Co., Ltd., Aptiv, IRISO Electronics Co., Ltd., Japan Aviation Electronics Industry, Ltd., Yazaki Corporation, Rosenberger, HIROSE ELECTRIC CO., LTD., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2023, Molex, a global electronics leader and connectivity innovator, expanded its array of solutions recommended by the Open Compute Project (OCP) with the introduction of the KickStart Connector System.

• In June 2023, TE Connectivity (TE), a global leader in connectivity and sensors, entered into a strategic partnership with Tacterion, a pioneering tactile sensing company based in Munich. This collaboration aims to leverage Tacterion's innovative sensor technology to develop smart touch and force sensor solutions.

• In March 2023, Hirose Electric has released the IT14 Series, a hermaphroditic board-to-board connector that supports up to 112Gbps PAM4 transmission speed.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global connector market based on the below-mentioned segments:

Global Connector Market, By Product Type

• PCB Connectors
• I/O Connectors
• Circular Connectors
• Fiber Optic Connectors
• RF Coaxial Connectors
• Others

Global Connector Market, By End-User

• Consumer Electronics
• Telecommunications & Networking
• Automotive
• Energy & Utilities
• Government & Defense
• Others

Global Connector Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa