The high speed connector market was valued at US$ 3,037. 65 million in 2019 and is projected to reach US$ 5,658. 42 million by 2027; it is expected to grow at a CAGR of 8. 3% from 2020 to 2027. Growing investments by government as well as private and public companies in strengthening their communication infrastructure for global market reach and increasing digitalization in industrial, automotive, residential, and consumer electronics sectors are boosting the growth of the high speed connector market.
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Speed Connector Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product and Application" - https://www.reportlinker.com/p06027541/?utm_source=GNW
Besides, the automotive manufacturers are installing more electronic and infotainment systems in vehicles to provide high connectivity, which offers opportunities for the connector manufacturers to design efficient and compact solutions to meet the requirement. For instance, in October 2020, Japan Aviation Electronics Industry, Ltd. introduced new MX77 Series Compact connectors specially designed for automotive ECU applications. Also, in March 2019, Kyocera Corporation introduced new 6815 Series connectors designed for the displays used in automotive infotainment systems, TVs, and medical devices. Thus, increasing demands from automotive, aerospace, electronics and other industries for high speed connectivity solutions and accessories are boosting the growth of the high speed connector market.
The COVID-19 pandemic is hindering the economic growth of almost every country.The restrictions on production activities and reduced sale of electronics are disrupting the semiconductor industry, whereas rising need for faster network at home lowered the impact of this downturn on market growth.
However, the demand for high speed connector has remained stable or increased in communication and electronics sector.On the other hand, the purchase of high speed connector is reduced or zero as the pandemic has hindered the automotive, aerospace and defense, energy and power, and others sectors.
Hence, the high speed connector market is witnessing mixed impact of the pandemic.Large number of manufacturing companies are facing major loss due to low demand from OEMs.
Lowering number of the automotive sale, electronics sale, aircraft and others is reducing the demand of high speed connector, which is hampering the high speed connector market growth in the COVID-19 pandemic.
The high speed connector market is segmented on the basis of product and application.Based on product, the market is segmented into board-to-board, board-to-cable, and others.
The board-to-board segment held the largest market share in 2019.By application, the high speed connector market is segmented into communication, automotive, aerospace & defense, energy and power, electronics, and others.
In 2019, the aerospace & defense segment held the largest market share.
The overall high speed connector market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the high speed connector market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic.The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the high speed connector market.
A few major players operating in the global market are Molex, LLC; Samtec.; TE Connectivity; HIROSE Electric Co., Ltd.; Yamaichi Electronics Co., Ltd; Neoconix, Inc.; FUJITSU.; OMRON Corporation; IMS Connector Systems; and OUPIIN Enterprise Co.,Ltd
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