In 2022, sales of wire-to-board connectors market worldwide exceeded a worth of US$ 4.7 billion. The demand for wire-to-board connectors increased at a 4.1% CAGR between 2017 and 2021. It is anticipated that the size of the worldwide wire-to-board connection market would increase from US$ 4.6 billion in 2021 to US$ 9.0 billion by 2032.
It is expected that wire-to-board connectors will continue to be the most widely used technology available. Future Market Insights (FMI) projects a compound annual growth rate (CAGR) of almost 6.6% from 2022 to 2032. This is a result of the world changing quickly and the increased use of wire-to-board.
Global sales of wire-to-board connector increased at around 4.1% CAGR during the historical period from 2017 to 2021. Over the projection period, global wire-to-board connector demand is forecast to increase at 6.6% CAGR. The worldwide market for wire-to-board connector is projected to generate an absolute $ opportunity of US$ 4.3 billion through 2032.
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A key factor supporting the growth of the wire-to-board connector industry is the increasing prevalence of automotive microchip technology. Automotive connectors are an important part of all electronics used in automobiles. Auto parts account for a large portion of the vehicle’s manufacturing costs.
The prevalence of advanced electronic structures such as audio controls, driver assistance systems, cruise controls, diagnostic systems, and infotainment systems has increased. This has also led to rising applications of automotive connectors in vehicles.
Miniaturization of electronics is a key factor supporting the growth of the market for wire-to-board connectors. Technological advances have had a significant positive impact on the growth of the electronic device market.
Furthermore, strict government guidelines on carbon emissions encourage the use of emissions sensors to control carbon emissions. All of these electronic sensors and systems require automotive connectors to transmit information and safeguard the efficient operation of these components.
Growing demand for these electronic devices has led manufacturers to invest heavily in research and development. Technological advances have greatly reduced the size of electronic devices over the years.
Today’s customers demand highly reliable and compact electronics. The miniaturization of an electronic device is primarily due to the need to decrease raw material costs and the growing need for smaller meetings in certain applications.
Key Takeaways from the Wire-to-board Connector Market Report:
- The United States wire-to-board connector industry is forecast to expand at 5% CAGR through 2032 in comparison to the 1.2% CAGR registered from 2017 to 2021.
- Japan’s wire-to-board connector industry is set to thrive at 9% CAGR, reaching a valuation of US$ 1.4 billion by 2032.
- China’s wire-to-board connector market registered a CAGR of 2% between 2017 and 2021, and is expected to surge at 8.1% CAGR through 2032.
- As per Future Market Insights (FMI), the housing segment will register a growth rate of 2%.
- Over the projection period (2022 to 2032), the 2.54 mm segment will progress at 4% CAGR.
Who is Winning?
Leading operators in the wire-to-board connector industry include Molex Incorporated, Te Connectivity Ltd., Amphenol Corporation, Samtec Inc, Japan Aviation Electronics Industry, Ltd., C&K Components, Inc., Kyocera Corp., J.S.T. Mfg. Co., Ltd., HARTING Technology Group, ERNI Group, Phoenix Contact GmbH & Co. KG, Wago Holding GmbH.
These market players are investing heavily in research and development to introduce advanced systems with enhanced features. Partnerships, mergers, acquisitions, and collaborations are other strategies adopted by companies in this marketplace.
Recent developments:
- InDecember2018,MolexIncorporatedreleasedanewMicro-LockPluswire-to-boardconnectorsystemthatprovidesconsumerswithelectricalandmechanicaldependabilityinahigh-temperature
In August 2018, Harting Technology Group advanced a new standard for Single Pair Ethernet technology using a wire-to-board connector system.
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Wire-to-board Connector Market Segmentation
By Style:
- Accessory
- Header
- Housing
- Plug
- Receptacle
- Socket
By Pitch Size:
- 0.8mm
- 1.0mm
- 1.25mm
- 1.27mm
- 2.0mm
- 2.5mm
- 2.54mm
- 3.3mm
- 3.96mm
- 5.0mm
- 7.92mm
- 10.16mm
By Application:
- Computer and Peripherals
- Medical
- Industrial and Instrumentation
- Data/Telecom
- Automotive
- Aerospace and Defense
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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