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The wire-to-board connector market size is forecast to increase by USD 1.01 billion, at a CAGR of 4.5% between 2023 and 2028. There is a rising adoption of automotive electronics alongside growth in the telecommunication sector and increasing demand for consumer electronics. Automotive electronics are becoming integral to modern vehicles, driving innovation in safety, connectivity, and autonomous features. Simultaneously, the telecommunication sector continues to expand, driven by advancements in mobile technology and the increasing demand for reliable communication infrastructure. Additionally, the consumer electronics market is experiencing robust growth, fueled by evolving consumer preferences for smart devices, home appliances, and entertainment systems. These trends underscore a dynamic landscape where technological advancements and market demands intersect, shaping the future of the automotive, telecommunications, and consumer electronics industries as they continue to innovate and cater to diverse consumer needs globally.
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The market is witnessing significant growth due to the increasing demand for electronic devices in various sectors such as electronics, IoT technology, HVAC systems, mobile, wearables, and telecom. The market is driven by the increasing usage of wire-to-board connectors in IoT applications for data transmission. Automated assembly processes, flex circuits, chip-on-board, wire bonding, and Smart meters are some of the key applications of wire-to-board connectors. Electronic devices in sectors like automotive, medical, and electricity (Electricity, Gas, Water) are major consumers of wire-to-board connectors. In the automotive sector, these connectors are used for voltage configurations and footprint patterns in various peripheral devices. In the medical sector, they are used in various medical equipment for data transmission. In the telecom sector, they are used for connecting various components in telecom infrastructure. The market for wire-to-board connectors is segmented based on voltage configurations, footprint patterns, and end-use industries. The market is expected to grow at a steady pace due to the increasing demand for miniaturization and high-speed data transmission in various industries. The market is expected to grow significantly in the coming years due to the increasing adoption of IoT technology and the growing demand for automated assembly processes.
Increased adoption of automotive electronics is notably driving market growth. The wire-to-board connector market is experiencing significant growth due to the increasing demand for advanced electronic systems in various industries, including consumer electronics, medical devices, automotive, and renewable energy projects. In consumer electronics, the proliferation of Internet of Things (IoT) devices, sensors, processors, communication modules, and data centers require high-speed connectors for wireless and wired data transmission. Similarly, medical technology relies heavily on wire-to-board connectors for medical devices, artificial intelligence, and machine learning applications. The automotive sector is another major contributor to the market growth, with the increasing adoption of electric vehicles and the rise of 5G technology. High-speed connectors, waterproof, and sealed connectors are essential for the communication between various components in electric vehicles, such as battery management systems, motor controllers, and charging systems.
Furthermore, the military sector utilizes pin header connectors and socket connectors for various applications, including communication, power distribution, and data transfer. The revenue growth in the wire-to-board connector market is influenced by the increasing factory gate values and the need for reliable and efficient connectivity solutions in various industries. IDC connectors are widely used in IT infrastructure, particularly in servers and data centers, to ensure seamless communication between various components. Overall, the wire-to-board connector market is expected to continue its growth trajectory, driven by the increasing demand for advanced electronic systems and the need for reliable connectivity solutions. Thus, such factors are driving the growth of the market during the forecast period.
Miniaturization of electronic devices is the key trend in the market. The global market for wire-to-board connectors is experiencing significant growth due to the increasing demand for advanced electronic devices in various sectors. Consumer electronics, medical devices, and Internet of Things (IoT) devices are leading the market, driven by technological innovations in artificial intelligence, machine learning, electric vehicles, and medical technology. Renewable energy projects and 5G technology are also contributing to the growth of this market.
Further, high-speed connectors, waterproof and sealed connectors, wireless connectivity, and data centers are key product segments. Savills Korea reports that the demand for IoT devices, sensors, processors, communication modules, and other components is driving up factory gate values and revenues. Military applications, pin header connectors, socket connectors, and board connectors are other significant applications. IDC connectors are gaining popularity due to their ability to support high current and high voltage applications. Currency fluctuations may impact the market, but the overall growth is expected to remain strong. Thus, such trends will shape the growth of the market during the forecast period.
Reliability and durability issues with wire-to-board connectors is the major challenge that affects the growth of the market. The global wire-to-board connector market faces challenges due to the importance of reliability and durability in various applications, including consumer electronics, medical devices, Internet of Things (IoT), artificial intelligence, machine learning, electric vehicles, medical technology, renewable energy projects, 5G technology, and data centers. These connectors are susceptible to damage and failures due to external factors such as voltage fluctuations, temperature changes, and mechanical forces. Issues like broken latches, separation of mating joints without external causes, and overheating of joints due to misalignments can occur, leading to durability and reliability concerns.
Moreover, such challenges are significant as they impact the safety of the connected device and the end-user. Applications in sectors such as military, sensors, processors, communication modules, and factory gate values demand high-performance, waterproof, and sealed connectors with wireless connectivity for enhanced functionality. Key market drivers include the increasing revenues in IDC connectors, currency fluctuations, and the growing demand for high-speed connectors in IT infrastructure and Savills Korea's smart city projects. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The computer and peripherals segment is estimated to witness significant growth during the forecast period. The Wire-To-Board Connector market is experiencing significant growth in the electronics sector due to the increasing demand for IoT technology in various applications. IoT applications in HVAC systems, mobile devices, wearables, and automated assembly processes are driving the need for advanced connectors. Flex circuits and chip-on-board technologies are increasingly being used in electronic devices for high-speed data transmission and automated assembly processes. Connectors play a crucial role in IoT applications, enabling data transmission between various peripheral devices and electronic systems.
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The computer and peripherals segment accounted for USD 962.00 million in 2018. High-speed connectivity and transmission bandwidth are essential requirements in IoT applications, leading to the development of connectors with smaller pitch sizes. HVAC system controls, robotics, office automation, and smart speakers are some of the applications where these connectors are being used extensively. The IIoT and transportation sectors are also expected to contribute significantly to the growth of the connectors market. Major players in the connectors market include Molex LLC, Electronics, and Automation, among others. These companies are investing in research and development to meet the evolving demands of the electronics industry and provide innovative solutions for various applications.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Wire-To-Board Connector market is experiencing significant growth in the electronics sector, driven by the increasing adoption of IoT technology in various applications. These connectors play a crucial role in enabling data transmission between electronic devices and peripherals, including HVAC systems, mobile devices, wearables, and IoT applications. Automated assembly processes, such as flex circuits, chip-on-board, wire bonding, and automated soldering, are also driving the market's growth.
Further, voltage configurations and footprint patterns are essential considerations for these connectors to ensure seamless integration with various systems. The automotive, medical, and telecom sectors are also major contributors to the market's growth, with a focus on high-speed connectivity and transmission bandwidth. Key players in the connectors market include Molex LLC, Electronics, Automation, and others. The market is witnessing significant innovation, with new products and solutions being developed to cater to the evolving needs of industries, such as HVAC system controls, robotics, office automation, smart speakers, smart thermostats, and IIoT applications in the transportation sector. The datacom sector is also expected to contribute significantly to the market's growth, as the demand for reliable and high-performance connectors increases.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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The market is witnessing significant growth in the electronics sector due to the increasing demand for electronic devices and automated assembly processes. IoT technology is playing a pivotal role in driving the market, with applications in various sectors such as HVAC systems, mobile, wearables, and IoT applications. The demand for high-speed connectivity and transmission bandwidth is fueling the growth of the market. Connectors are essential components in data transmission, especially in electronic devices like Smart meters for Electricity, Gas, and Water, Residential and Industrial gas meters, and Voltage configurations. The footprint pattern and pitch size of connectors are crucial factors for their successful integration into various applications. Molex LLC is a leading player in the connectors market, catering to various industries such as the automotive sector, medical sector, telecom sector, datacom sector, and IIoT.
Further, the market is also witnessing growth in sectors like robotics, office automation, smart speakers, and smart thermostats. The transportation sector is another significant end-user of wire-to-board connectors, with applications in high-speed trains, electric vehicles, and autonomous vehicles. The market for wire-to-board connectors is diverse, with various types such as flex circuits, chip-on-board, and wire bonding. The market is expected to grow further with the increasing adoption of advanced technologies like HVAC system controls and smart HVAC systems in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
143 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 1.01 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, South Korea, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Amphenol Corp., ERNI Deutschland GmbH, Hon Hai Precision Industry Co. Ltd., HARTING Technology Group, HIROSE ELECTRIC Co. Ltd., Japan Aviation Electronics Industry Ltd., J.S.T. MFG. Co. Ltd., Koch Industries Inc., Kyocera Corp., Norcomp Inc., Phoenix Contact GmbH and Co. KG, Samtec Inc., TE Connectivity Ltd., WAGO GmbH and Co. KG, Wurth Elektronik GmbH and Co. KG, and Yamaichi Electronics Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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