Consolidation of market players to drive the market growth -Technavio
NEW YORK, NY, November 22, 2023 /24-7PressRelease/ — The Connectors Market size is set to grow by USD 26.67 billion, accelerating at a CAGR of 6.48% from 2023 to 2028, according to Technavio. The connectors market comprises numerous international and local market players. Mergers have significantly shaped this market, with major companies acquiring smaller regional players. These mergers and acquisitions (M&A) enable manufacturers to broaden their product lines worldwide. Furthermore, pursuing global expansion via M&A strategies affects both macro and micro levels. Companies are compelled to offer a wide array of global products and services to align with international standards and fulfill customer expectations. Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment. Buy the Report
Connectors Market 2024-2028: Segmentation
o Telecom Or Datacom
o Consumer Electronics And Others
o PCB Connectors
o I/O Rectangular
o Fiber Optic Connectors And Others
o North America
o South America
o Middle East And Africa
The automotive segment is expected to contribute significantly to the market’s expansion during the forecast period. Key factors driving this growth within the segment include advancements in automotive technologies like autonomous vehicles, electric vehicles (EVs), sophisticated cruise controls, climate regulation, and audio systems. The swift evolution of technology across automotive devices has increased the demand for reliable, standardized, durable, and cost-effective connectors.
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Connectors Market 2024-2028: Company Analysis and Scope
Some of the major companies of the connectors market industry include 3M Co., ABB Ltd., ALLIED ELECTRONICS CORP., AMETEK Inc., Amphenol Corp., Aptiv Plc, Elcom International Pvt. Ltd., Hon Hai Precision Industry Co. Ltd., Huawei Technologies Co. Ltd., Koch Industries Inc., METZ CONNECT GmbH, Nexans SA, Prysmian Spa, Rosenberger Hochfrequenztechnik GmbH & Co. KG, TE Connectivity Ltd., Yazaki Corp., HIROSE ELECTRIC Co. Ltd., J.S.T. MFG. Co. Ltd., Japan Aviation Electronics Industry Ltd., and Luxshare Precision Industry Co., Ltd. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 companies operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the connectors market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
Market trends such as increased adoption of automotive electronics are likely to emerge as one of the primary drivers of the market. However, factors such as reliability and durability issues associated with connectors may threaten the growth of the market.
Connectors Market 2024 – 2028: Market dynamics
Leading trends influencing the market
• Market growth aligns with technological advancements in connectors, notably in response to the telecom sector’s increased transmission speeds.
• Vigilance among industry players regarding emerging technologies and influential market factors drives market evolution.
• Rapid progress in semiconductor technology within connector manufacturing facilitates high-speed data communication in devices.
• Future endeavors aim at developing single Tb/s channels, demanding substantial R&D investment in the global connectors market, likely boosting the market growth.
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Connectors Market 2024-2028: Key Highlights
• CAGR of the market during the forecast period 2024-2028
• Detailed information on factors that will assist connectors market growth during the next five years
• Estimation of the connectors market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the connectors market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of connectors market vendors
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Hazardous Location Connectors Market: The hazardous location connectors market share is expected to increase by USD 2.33 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.18%.
Filtered Connectors Market: The filtered connectors market is estimated to grow at a CAGR of 6.69% between 2022 and 2027. The size of the market is forecast to increase by USD 2,567.24 million.
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by End-User
7. Market Segmentation by Type
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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