Pune, India., June 07, 2021 (GLOBE NEWSWIRE) -- High Speed Connector Market: Key Insights
According to our new research study on “High Speed Connector Market to 2027 – Global Analysis and Forecast – by product and application,” the global High Speed Connector Market Size 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% during 2020–2027.
High Speed Connector Market: Competition Landscape and Key Developments
Molex LLC, Hosiden, Fujitsu, TE Connectivity, and 3M are a few of the key companies operating in the global high speed connector market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In 2019, Molex, LLC had launched new 1.25mm pitch slim stack floating board-to-board connector. They are specially designed to prevent fretting corrosion also increases contact reliability and are vibration resistant. This is used in the automotive field, making it a desirable option for car column switches.
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In 2019, TE Connectivity had launched MULTIGIG RT 3 and MULTIGIG RT 2-S, which is next-generation lightweight, rugged, high speed backplane connector to meet the interface dimensions for VITA 46 VPX connector.
The electronics, automotive, communication, and networking industry are continuously evolving with innovations in product offerings to support high speed data transfer. The rising demand for compact and flexible connector design to ease the connectivity is propelling the market growth. An advent of IoT and big data technology in 4K television, 5G wireless networks, and wearable devices are creating a surge in demand for more data transfer solutions. As a result, the market players are focusing on developing faster, smaller, and efficient high speed connector. Further, increasing disposable income is enhancing the purchasing capacity of the consumers, which, in turn propels the sales of smartphones, computers, and home network connecting devices, among others. These new electronic devices need to perform faster data transfer with minimal signal losses, for which major companies are selecting high speed connector. Such demand for high speed connector is propelling the growth of the market.
The high speed connector has an increasing demand in the networking and communication sector to offer enhanced connectivity, reliability, and high speed transfer. Advancement in connector technology is improving the device performance as well as offering better space utilizing solutions. Market players are developing the high speed end connector for SERDES (Serializer/Deserializer) applications such as supercomputing, high speed networking, and supercomputing. For instance, in April 2019, Fairview Microwave Inc., a brand of Infinite Electronics has introduced a new series of high speed PCB (Printed Circuit Board) connector supporting the high data rates and VSWR as low as 1.10:1.
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Newly introduced high-performance end launch connector are ideal for supercomputing, cloud servers, and high speed networking. Similarly, in February 2019, Pasternack, a semiconductor device manufacturing company introduced a new series of edge launch, PCB connector for the market. The new connector is designed for high speed networking and supercomputing applications, as they support high data rate transfers. A rise in demand for high speed PCB connection in supercomputers and networking applications is expected to provide growth opportunities to the market. Moreover, rising consumption of high speed networking devices and computers is a major supporting factor for market growth.
High Speed Connector Market: Segmental Overview
Based on the product, high speed connector market is segmented into board-to-board, board-to-cable, and others. The rising miniaturization of electronics and adoption of flexible material to ease the mounting operation has enhanced importance of product segment. According to the device requirement the products gets selected such as for board-to-board connector are getting utilized in interconnect systems, while bored-to-cable connector are used to form external connections. The requirement of speed, flexibility, size, and other factors playing important role in product selection.
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On the basis of application, high speed connector market is segmented into communication, automotive, aerospace & defense, energy and power, electronics, and others. Technological advancements are bringing evolution in each vertical, allowing them to adopt high speed connectivity solution for better communication. The demand for compact devices is high in industries such as consumer electronics, automotive, aerospace, and communication devices. The growing trend of digitalization of processes in businesses is major factor supporting the high speed connector market growth. Market players are continuously developing advanced high speed connector to cater to a wide range of applications having requirement for fast data transfer solutions. To offer enhanced products for various vertical companies are developing advance products meeting the specific requirement of speed, size, flexibility, and others.
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