Cable Connector Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

By Author: Statzy Market Research
Total Articles: 979
Comment this article

The cable connector market is expected to register a CAGR of 5.94% during the forecast period from 2021 to 2026. 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 growth of the market studied. High-performance networks are essential for business, manufacturing, security, and media. Furthermore, cables, such as USB Type-C and HDMI, are hugely popular.

- The growing number of fixed broadband connections over the years has enabled the growth of the market studied. According to ITU, the number of global fixed broadband subscriptions increased by 9% annually in the last five years. This increase in broadband connections will provide an opportunity for the growth of the market studied, as the installation of these connections require connectors. Furthermore, the penetration of the internet extensively among the developing nations worldwide is expected to boost the demand for RF cable further. For instance, Latin America had 368 million internet users in 2017, which is poised to reach 465 million by 2022. ...
... Also, by 2023, APAC is expected to have 3.1 billion Internet users (72% of the regional population), an increase from 2.1 billion (52% of the local population) in 2018, as per Cisco's survey.

- The use of cable connectors for miniature applications is rapidly growing. Several key markets, including mobile technology, aerospace and defense, and medical technology, drive the growth of the market. The mobile phone and TV market witnessed high growth in the past decade. As of May 2020, Times Microwave Systems, an RF/Microwave interconnect solutions developer, released a new Time Locking Miniature Push-On (TLMP) connector to cater to the increasing demand for micro-miniature interfaces for applications with high data rate or board-to-board systems in military, aerospace, and space flight applications. The smartphones and other handheld devices require smaller and lower -profile components, including micro -connectors capable of providing very high data speeds.

- Most of the data and power connections use RF connectors and cables, and these trends are likely to continue with high-speed data, enterprise networking, and industrial IoT applications. Furthermore, as the adoption of the Industrial Internet of Things (IIoT) is increasing in Europe and APAC, the connector companies are turning to M12 cable connectors. The new IIoT equipment is expected not to use the legacy serial connectors, such as RS-232, RS-485, and other legacy and D-shell type connectors. The IIoT equipment will deploy newer connectors, such as USB, CAT 5/6/7, HDMI, and DisplayPort, to name a few. Besides, a comprehensive view of the manufacturing process under IIoT is accomplished by placing networked sensors on physical equipment to collect data. These sensor-based data is transmitted back to a central location for the decision-makers to access it.

- The majority of the vendors are manufacturing edge-computing power connectors to facilitate the flow of highly sensitive data from the device to the cloud and back again. This factor is essential for manufacturing connectors for AI and augmented reality. The outbreak of COVID-19 has led China to announce a lockdown and practice social isolation in the initial months of 2020. This factor halted manufacturing, as well as the production of various equipment and machinery for several weeks. Furthermore, the country also restricted its import and export of critical raw materials and industrial equipment. This factor is impacting the supply chain. Alternatively, several retailers and distributors' closings reduced the availability of components, such as connectors, across the European and North American regions.

Key Market Trends

Automotive is Expected to Hold Significant Share

For sample report please visit: https://www.statzyreports.com/report/sr497264/cable-connector-market

- 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 also expected to boost the growth of the market. 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 smart connectors with EMI/RFI suppression features

.
- In 2019, the Japanese motorcycle manufacturers, namely Honda, Kawasaki, Suzuki, and Yamaha, announced a new collaboration to standardize replaceable battery technology for electric motorcycles. As Motorcycles are smaller than vehicles, they use less energy. However, the high -performance models use automotive connectors with data pins and the same connectors for smart charging. This has led to connector introductions with higher pin densities for analog and digital signals and fully isolated terminals, to be placed next to power rails to optimize the use of the limited space available.

- 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 and material, driving the connector to reduce weight by 20 % to 30 %, in comparison to the standard models.
- In January 2020, Japan Aviation Electronics (JAE) launched a new set of connectors, the MX80 Series of compact waterproof in-line connectors for automotive applications. As the need for high-performance automobiles increases, the number of built-in electronic components increases as well. This leads to limited mounting and wiring space, and the demand for smaller connectors becomes ever more evident. MX80 Series connectors support various vehicle applications such as side-view mirrors, actuating motor functions, indicator lights, blind-spot monitors, etc. They are waterproof and possess a small-form-factor for use in internal or external vehicle environments.

Asia-Pacific is Expected to Witness the Fastest Growth Rate

- The continuous advancements in communication technologies are the major factors boosting the growth of the cable connectors market, precisely the demand for and the production of consumer electronics in the region. Moreover, the support by IT and communications for automated processes in industrial applications facilitated the easier adoption among the manufacturers. Sensor components, faster networks, flexible interfaces with high levels of reliability and secured hierarchical access, and error-correction options added to the productivity, continued quality deliveries, and minimized manufacturing cost in the region.

- For instance, according to the Chinese government, the industrial IoT (IIoT) market is expected to witness growth, accounting for around USD 65 billion by 2020. Furthermore, the Japanese government approved a plan, known as the ‘Rebirth of Japan,' which outlines the route towards strengthening the manufacturing sector by targeting the development of USD 1.3 trillion. It is expected that, by 2023, the revenue of the companies in the industrial area are expected to increase by USD 490 billion, as a result of the adoption of the standards of Industry 4.0.

- On the domestic front, India has significant plans for smart cities. This factor is facilitating the approval of the smart home. Furthermore, Jio's policies and prices for JioFiber and a couple of individual Jio IoT devices would aid the affordability of smart homes in the country. The telecom operator has provided details about some of the personal IoT devices that will promote smart home ecosystems in most homes. The advancements such as these are expected to boost the demand for connectors in the region.
- The industrial expansions in China resulted in a significant improvement in the standard of living. These factors boosted the demand from the home and industrial markets for modern goods and services. This factor is expected to have a positive impact on the growth of the cable connectors market. For instance, the Chinese government and the local vendors are actively promoting the plans for the development of 5G, with the deployment of the same expected by the end of 2020. This initiative is expected to develop upgrades across communication infrastructure while installing better cable connectors and other equipment.

Competitive Landscape

The cable connector market is highly fragmented, as the players can quickly enter the market, owing to the rising demand and low capital investment required. Moreover, the acquisitions have been a key trend observed across the years in the market. For instance, Amphenol made about 49 deals between 1999 and 2017. Some of the key players include Amphenol Corporation, Molex Inc. (Acquired by Koch Industries), Fujitsu Limited, TE Connectivity Limited,3M Company, Prysmian SpA, among others.

- March 2020 - TE Connectivity (TE) launched STRADA Whisper cable receptacles, which can allow engineers to start designing for up to 112G PAM-4 data rates in servers, switches, and routers. These cable receptacles incorporate STRADA Whisper connectors on one end and connect to a variety of other high-speed solutions on the other, including backplane, mid-board, or input/output (I/O) products, bypassing the printed circuit board (PCB) and minimizing insertion loss and crosstalk.
- February 2020 - Prysmian Group has launched its 288-fiber ezMICRODUCT cable. With the use of 200-micron fiber, the cable has an outer diameter of only 8 mm. The cable's design includes 24 fibers per tube, making the fibers easier to identify and fit into standard splicing trays. The fiber cable will operate in the -40°F to 158°F temperature range.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit: https://www.statzyreports.com/report/sr497264/cable-connector-market

Contact Us:
Poojan Dogra
Public Relations Manager
Statzy Market Research
Email : info@statzyreports.com
(IN) - +918484035727
(US) - +1415-871-0483
Website : www.statzyreports.com

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.