The global cable connector market size was valued at USD 64.77 billion in 2021. It is estimated to reach a market value of USD 90.29 billion by 2030, growing at a CAGR of 3.76% during the forecast period (2022–2030). Cable connectors are connecting tools used in a variety of sectors to transport data, signals, and power supplies for electronic equipment. Cables are electrical conductors that have insulation between each wire and cable. The connectors are also electro-mechanical tools used to interconnect electrical terminations. There are jacks and plugs in the connections. Input-output connectors are another name for connectors, which serve as the interface when connecting electrical equipment with cables. The global shift to digital technology has created an enormous demand for cable connections. The three main elements driving the market under study's expansion are dependability, high performance, and efficiency. Business, industry, security, and media all depend on high-performance networks. Additionally, cables like Type-C and USB HDSR are also popular. The number of television and internet subscribers, as well as owners of smartphones, PDAs, and tablets, has increased as a result of the rising demand for media and entertainment and the global emerging countries' expanding internet penetration. These elements increased the demand for cable connection adapters necessary to establish successful networking.
The market has expanded owing to the years-long increase in fixed broadband connections. ITU reports that there has been a growth in fixed-broadband subscribers of 9% each year during the previous five years. Further increasing the need for RF cables is anticipated to be the widespread internet access among emerging countries worldwide. Cable connection utilization is expanding quickly in several applications. The market is expanding due to the influence of several important industries, including mobile technology, aerospace, military, automotive, and medicine.
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Advancements in Telecom Sector and Increased Demand for Better Connectivity
As 5G wireless technology starts to gain acceptance among businesses and consumers alike, the telecom industry is anticipated to play an even more significant role in the future. 5G specifically claims to give enterprises real-time visibility, understanding, and control over their assets, goods, and services. The problems of creating the infrastructure necessary for the implementation of 5G networks can be met by suppliers of fiber optic cables and high-speed connections. The copper-based mobile backhaul architecture is currently being upgraded to packet-based transport over fiber because of the desire for a better connection. To build 5G networks that can manage the further scalability of speeds, fiber optic connections, which have far larger bandwidth capacities, are essential.
Changing Prices for Raw Materials
Plastic-based components, such as PVC grains, Teflon-related materials, such as PTFE, ETFE, TFE, and FEP for cable insulation and the conductors, and copper material for the wires are among the essential raw materials required for the construction of cable connectors. The manufacturer's profit margins are under more pressure due to the unstable prices of these raw materials. Due to its lower cost and more significant usage in cable connections, copper is one of the raw materials that are most frequently used. The price of copper is determined mainly by the state of the world economy. This is a result of its extensive use in all economic sectors, including manufacturing, electronics, power generation, transmission, and construction. A rising market price signals solid financial health, whereas a falling price reflects the reverse.
The global cable connector market is segmented by type, end-user, and region.
Type-wise, the global cable connector market is categorized into PCB Connectors, Circular Connectors, Rectangular Connectors, Fiber Optic Connectors, IO Connectors, and Others.
The Rectangular Connectors segment holds the largest market share and is expected to grow at a CAGR of 3.96% during the forecast period. Rectangular Connectors are components that were designed to maximize signal integrity in situations with constrained interior space. The materials used to make these connections range from die-cast metals to molded plastics. These were primarily created with dependable wire-to-wire and wire-to-board connections in mind. Rectangular connections are more frequently employed in robotics, industrial automation, modular machine design, transportation, and power generation.
Circular Connectors are typically utilized in military and food and beverage processing applications. Circular connections are perfect in situations like a cable flowing through a cable tray. This style of connection provides vibration protection.
Fiber Optics is a crucial technology that permits the use of optical fibers in various applications and is connected to the transport of information as light pulses. Due to the high data rate and long-distance transmission in the telecommunications network, fiber optic connections are widely used in the telecommunications sector.
End-user-wise, the global cable connector market is classified into IT & Telecom, Automotive/Transportation, Consumer Electronics, Industrial, and Others.
The Automotive/Transportation segment holds the most significant market share and is estimated to grow at a CAGR of 4.34% during the forecast period. The electrical installations of automobiles are intended to utilize automotive electrical connections. Automobiles have undergone a significant shift, and current systems are heavily networked and controlled by a microprocessor. This has increased the need for dependable wiring and electrical connections.
Computer systems, sensors, radio receivers, relays, ignition systems, lights, and power windows and doors are some of the automotive systems that call for connections. It is possible to create, install, and test automotive electrical connections following various standards and requirements. Connector demand in the automotive sector will be driven by growing electrification across different vehicle classes. The market would expand favorably if increased demand for upgraded electrical functionality and vehicle safety standards increased.
In the Consumer Electronics industry, connectors provide a removable connection to peripherals, many circuit boards, electrical equipment, and other items. Major market vendors have been investing heavily in updating and upgrading current technologies over the last few years to provide speedy & reliable data transmission that would drive the market outlook. Additionally, the market would see development from the expanding use of various products, such as micro connections, USB Type C, and HDMI, for optimum data transfer across multiple electrical devices.
In the IT & Telecom industry, connectors increase the speed at which vast amounts of data are sent across great distances using electronic or electrical means. They were used to transport data and provide telecommunication services and could be located at the end of telecom cables. Positive market growth is fueled by rising demand for connection and internet access.
Predominance of Asia-Pacific
Region-wise, the global cable connectors market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
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The Asia-Pacific region stands first in the market and is anticipated to grow at a CAGR of 4.95% during the forecast period. 75% of fixed-broadband users in Asia-Pacific originate from the East and Northeast, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). More than half of the world's yearly demand for optical cable comes from China. The nation's telecom network providers have placed fiber in every type of telecom application, including mobile cellular networks, FTTx, and intra- and inter-city connections. Besides businesses, Chinese government authorities are also building fiber-optic networks to support the country's airports, data centers, railroads, motorways, and pipelines. China alone accounts for 50% of Asia-Pacific's fixed broadband users.
North America stands second in the market and is projected to account for USD 22.18 billion by 2030, growing at a CAGR of 4.12%. Due to its vast internet penetration and expanding communication infrastructure, the North American region is one of the key drivers of the cable connectors market. These developments call for more connections, raising the need for the area's cable connectors. In addition to having 19 LTE networks, North America has emerged as one of the top locations for developing 5G networks, with four 5G networks going live in September 2019. Given that the US is the main force behind these deployments, the US presents a significant potential for the vendors in the industry being researched to grow.
The consumer electronics sector is developed in the European region, and a high-tech networking environment backs it. The trend toward a smart home, fueled by technological improvements, is increasing demand for consumer electronics items like smart air conditioners, which call for more excellent connectivity and bandwidth.