October 14, 2021 06:00 ET | Source: Graphical Research Graphical Research
Pune, India, Oct. 14, 2021 (GLOBE NEWSWIRE) --
The global connector market size is anticipated to gain significant momentum during the forecast period owing to the demand for networking devices and growing telecommunication, automotive, and IT sectors. Regional governments are striving to reduce the carbon emissions from their sectors and increase the production and sale of electric vehicles (EVs). Customers are also becoming aware of the environmental hazards of using fossil-fueled vehicles and are switching to electric ones. Below mentioned are the trends that will drive market forecast:
Semiconductors boost PCB connector production in Europe:
PCB connectors are gaining traction across Europe as the need to have reliable and durable semiconductors is growing. Semiconductors are mainly used in a wide range of consumer electronics and PCB connectors form a vital part of this component.
End-users will extensively adopt these connectors to cash in on high convenience, stable hard connection, strong overcurrent capability, and user-friendly wire bonding & testing features. Moreover, advanced automation technologies are being developed which will find high use across sectors such as automotive, industrial, and defense. This factor will augment the installation of PCB connectors.
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Telecom sector in Europe remains a notable end-user of connectors:
Connectors will find robust adoption across the telecom sector in Europe as the governments are focusing on developing an advanced 5G technology infrastructure. The number of people using the internet is growing at an exponential rate every year. The need to have a strong yet safe virtual communication system is projected to play a vital role in expanding the production of connectors. The regional telecom sector is undergoing some technological innovations, thereby driving the sale of smart connectors.
Germany connector market forecast will witness notable progress:
Germany connector market size will grow at a considerable pace as the public and private sector organizations are heavily investing in the development of innovative industrial infrastructure. ITES and datacenter sectors are flourishing across the country, which has positively impacted the sale of smart networking equipment, such as connectors.
The central authorities are offering their support to help the telecom, automotive, and industrial sectors grow. The automotive sector in Germany is increasing its production capacity of EVs as they are an effective alternative to conventional vehicles in terms of environmental impact and fuel consumption. These aspects will encourage the production of connectors.
Production of input output (I/O) connectors grows in Asia Pacific:
The consumer electronics sector in Asia Pacific is growing at a significant rate as there is a high usage of smartphones and advanced gadgets. Considering that these electronics have separate I/O connectors, including USBs, HDMI cables, and many others, they are used to carry out a wide range of functions, such as data and power transmission.
Features, including fast connectivity, high reliability, and the ability to transfer higher volumes of data as compared to their counterparts have compelled consumers to use I/O connectors. Since APAC region is predicted to become an IT hub due to the strong presence of several reputed IT companies, the number of data centers being set up is growing simultaneously. This will ultimately lead to the high adoption of I/O connectors to develop a fast and secure connection between electronic devices.
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China captures a large share of APAC market:
China connector market size will grow at a commendable rate as the industrial, commercial, and consumer electronics sectors are witnessing rapid expansion. The telecommunication systems are being modified and renovated with the help of advanced technologies.
The automotive sector in the country is surging at a notable pace to cater to the automobile requirements of a vast population. According to the China Association of Automobile Manufacturers (CAAM), around 2,565,000 commercial and passenger vehicles were sold during September 2020. These factors are likely to create an upward trend in the production of connectors in the country.
Role of connectors in computers and peripheral devices in Asia Pacific:
The growing usage of computers and other peripheral devices will boost the production of connectors in Asia Pacific. Electronic connectors can safely transmit large volumes of data and can achieve transmission rates as high as 40Gbit/s. The usage of personal computers is growing at a substantial rate across the region, resulting in the deployment of high-speed and lighter data connectors in these devices.
Electric vehicle manufacturing boosts connector installation in North America:
The demand for electric vehicles in North America has prompted automakers to develop new production strategies to incorporate electric components in conventional vehicles. The governments are offering their support in the form of financial help and favorable policies to develop an innovative and smart EV infrastructure.
To cater to the demand for electrical functionalities and safety requirements, manufacturers will extensively use connectors in the automotive sector. Eco-friendly modes of transportation are picking up the pace among customers in the region, prompting the organizations to come up with advanced technologies to produce EVs. This factor will propel the manufacturing and sale of connectors in North America.
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U.S. market share gains momentum:
U.S. connector market will witness an upward trend as the computer networking, telecom, and automotive sectors are thriving. Government rules are becoming more supportive to develop a strong industrial infrastructure. The authorities are increasing their investments in the robotics and defense sectors to develop high-end machines, fostering the development of smart connectors to operate these machines effectively.
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