Asia Pacific Connector Market share is anticipated to grow on account of upsurging demand across IT and automotive industry. Influx of FDI across telecommunication sector will proliferate the industry outlook during the forecast period. Moreover, regulatory norms to encourage the adoption of electric vehicles in line of fulfilling the global energy efficiency targets will further elevate the business size across the region.
Input Output (I/O) connectors will experience a significant growth owing to the surging demand of consumer electronics. These devices come up with several I/O connectors including USB, HDMI amongst others for power and information transmission. High reliability, fast connectivity, and maximum data transmission are few of the prominent features that will enhance the product deployment across the region. Furthermore, increasing number of data centers and IT companies will propel a demand for effective and fast data transmission, which in turn will boost the market growth.
Computers and peripheral devices will witness an increased deployment of the connectors in the forecast period on account of its features including significant data transmission capabilities with high reliability. Ability to achieve high transmission rates of up to 40Gbit/s through the electric connectors coupled with soaring requirement of fast data transmission will propel the product deployment across computer and peripheral devices. Moreover, the exponentially expanding personal computers market across the region will fuel the deployment of lighter and high speed data connectors in the APAC market.
China connector market is anticipated to witness a compelling surge owing to the expanding industrial, commercial, and consumer electronics industries. Governmental efforts to improve the existing telecommunication networks will further complement the deployment of connectors across the nation. The country has witnessed a substantial growth in the automotive sector in the last decade on account of soaring population which will propel the adoption of these units for electric circuits. For instance, According to China Association of Automobile Manufacturers (CAAM), a total of 2,565,000 passenger and commercial vehicles combined were sold in September 2020, with a year on year growth rate of 12.8 %. Moreover, rising customer spending toward electronic devices will proliferate the business outlook in China, which in turn will boost the product growth in the forecast period.
Key industry participants in the industry are engaging in strategic acquisitions and mergers with an undivided focus on profiting from the unification of their manufacturing expertise in order to proliferate their market share. Key industry players operating include Aptiv PLC, TE Connectivity, Molex, Inc., Foxconn Technology Group, Amphenol Corporation, Luxshare Precision Industry Co., Ltd. amongst others.