LONDON--(BUSINESS WIRE)--The global connectors market size is expected to grow by USD 16.95 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%. Request free sample pages
Read the 120-page report with TOC on "Connectors Market Analysis Report by Application (Automotive, IT, telecom/datacom, and industrial), Product (PCB connectors, I/O rectangular, application-specific, and others), and Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/global-connectors-market-industry-analysis
The market is driven by the miniaturization of electronic devices. In addition, the growth of the end-user industries is anticipated to boost the growth of the connectors market.
With technological advances, the size of electronic devices has reduced considerably over the years. The miniaturization of electronic devices is primarily due to the need to reduce raw material costs as well as the increasing need for smaller assemblies in certain applications. The miniaturization of electronic devices has been made possible through the use of miniaturized connectors. These not only reduce the size of the devices but also help in reducing the overall cost of production by reducing raw material use. Miniature connectors also help to reduce the overall weight of the products, thus lowering the transportation charges of the manufacturers and increasing customer satisfaction. Thus, the miniaturization of electronic devices is expected to drive the growth of the market during the forecast period.
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Major Five Connectors Companies:
3M Co.
3M Co. has business operations under various segments, such as safety and industrial, transportation and electronics, health care, consumer, and corporate and unallocated. The company offers a range of connectors such as 3M Wiremount Socket Preassembled, 3000 Series.
ABB Ltd.
ABB Ltd. operates its business through various segments such as electrification, industrial automation, motion, robotics and discrete automation, and corporate and other. The company offers a range of connectors such as RTXG 8-0.
Amphenol Corp.
Amphenol Corp. is engaged in the design, manufacture and marketing of a broad range of connector and connector systems, value added products and other products, including antennas and sensors, used in a broad range of applications in a diverse set of end markets. The company offers a range of connectors such as 901-10555.
Aptiv Plc
Aptiv Plc has business operations under various segments, such as advanced safety and user experience, and signal and power solutions. The company offers a range of connectors such as OCS 1.2 Unsealed Series.
Foxconn Interconnect Technology Ltd.
Foxconn Interconnect Technology Ltd. operates its business through various segments, such as mobile devices, communications infrastructure, computer and consumer electronics, industrial, connected home, and smart accessories. The company offers a range of connectors such as Future Bus 2mm Conn 5 Row Power Header.
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Connectors Market Application Outlook (Revenue, USD billion, 2020-2024)
- Automotive
- IT
- Telecom/datacom
- Industrial
Connectors Market Product Outlook (Revenue, USD billion, 2020-2024)
- PCB connectors
- I/O rectangular
- Application-specific
- Others
Connectors Market Regional Outlook (Revenue, USD billion, 2020-2024)
- APAC
- Europe
- North America
- South America
- MEA
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