According to the Graphical Research new growth forecast report titled “Asia Pacific Connector Market Size By Products (PCB Connectors, IO Connectors, Circular Connectors, Fiber Optic Connectors, RF Coaxial Connectors, Others), By End Use (Telecom, Transportation, Automotive, Industrial, Computer & Peripherals, Others), Country Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026”, Value Determined to Soar by 2026.
APAC Market share will witness a substantial growth owing to rapid digitalization favored by the increasing penetration of smart devices across the consumer electronics segment. Moreover, flourishing automotive, telecommunication, and computer networking sectors will propel a need for reliable electronic devices, which in turn will boost the product adoption in the forecast period.
Circular connector market is anticipated to grow significantly on account of rising concerns pertaining to secure and better connectivity coupled with its extensive ability to provide smooth and reliable connectivity. Flexible cables structure, compact design and fast connectivity are some of the prominent features which will complement product deployment across the region. Moreover, growing demand consumer electronics along with positive outlook toward automotive industry will further drive the product demand in Asia Pacific region.
Asia Pacific connector market has witnessed a noteworthy growth from the automotive industry on account of increasing customer spending towards vehicle safety coupled with deployment of intelligent and smart sensing devices along with connectors. Increasing electrical functionality, communication density and safety requirements in a passenger vehicle has augmented the need of efficient electric circuits, which in turn propels the product demand in the forecast period. Moreover, governmental efforts to curb the GHG emission will enhance the EV deployment in the region, which in turn will positively impact the product penetration across Asia Pacific region in the forecast years.
India Connector market is anticipated to grow on account of rising population coupled with increasing disposable income across the urban area of the country. Ongoing technological advancement conjoined with growing deployment of consumer electronics across the country will fuel the adoption of the connector technology in the forecast period. Moreover, increasing investment across the automotive industry to implement reliable and safe electronic circuits and devices will boost the requirement of efficient electronic equipment, thus proliferating the industry growth through automotive sector.
Renowned producers in the connector business are offering product distinction via designs and aesthetics to sustain a competitive advantage over the competitors. Key participants in the Asia Pacific connector industry include Molex Inc., Foxconn Technology Group, 3M, Amphenol Corporation amongst others.