DALLAS, Nov. 04, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the connector market looks promising with opportunities in the automotive and transportation, telecom/datacom, computer and peripheral, industrial, and consumer electronics industry. The global connector market is expected to reach an estimated $80.4 billion by 2023 with a CAGR of 4.9% from 2018 to 2023. The major growth drivers for this market are growing 3C applications (Computers, Communications, and Consumer Electronics), miniaturization of electronic devices, and demand for products with advanced features, convenience, and connectivity.
Browse 66 market data tables and 95 figures spread through 167 pages and in-depth TOC on “Global Connector Market" at https://www.lucintel.com/connector-market-2018-2023.aspx
Lucintel forecasts that PCB connector will remain the largest product type due to growing automation in various sectors such as automotive, industrial, and military is driving the PCB connectors. Fiber optic connector segment is expected to witness the highest growth rate due to its easy installation, fast connection, low signal loss, and high performance which are highly required in optical communications.
Download Free PDF Brochure @ https://www.lucintel.com/connector-market-2018-2023.aspx#/
Asia Pacific is expected to remain the largest market and will experience the highest growth over the forecast period. The growth is supported by growth in automotive production, growing demand in tablets and smartphones, and increasing industrial automation, and growth in demand for home appliances. The awareness regarding increasing air pollution levels has encouraged the adoption of electric vehicles that create tremendous opportunities for connectors in China, Japan, India, and other countries. For Pre-Purchase Query click https://www.lucintel.com/connector-market-2018-2023.aspx#/
Emerging trends, which have a direct impact on the dynamics of the connector industry, includes Increasing demand for high speed connectors, shift towards compact and thinner connectors, development of high power connectors. TE Connectivity Ltd., Molex Incorporated, Hon Hai Precision, and Delphi Connection are among the major suppliers of connector.
Lucintel, a leading global market research firm has analyzed and forecasted growth opportunities for global connector market by product type, end use industry, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Connector Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.