PUBLISHER: The Business Research Company | PRODUCT CODE: 1428071
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428071
A wire-to-board connector is an electrical connector designed to link a group of individual wires to a printed circuit board (PCB), facilitating the transmission of power and signals to the board. These connectors find application in various settings, including lighting systems, PCB testing, and power supplies.
The primary types of wire-to-board connectors are categorized as below 1.00 mm, 1.00 mm to 2.00 mm, and above 2.00 mm. 'Below 1.00 mm' refers to lengths less than one millimeter (mm). The different styles include accessory, header, housing, plug, receptacle, and socket, and they are employed in transportation, consumer electronics, communications, industries, military applications, and other sectors.
The wire-to-board connector market research report is one of a series of new reports from The Business Research Company that provides wire-to-board connector market statistics, including wire-to-board connector industry global market size, regional shares, competitors with a wire-to-board connector market share, detailed wire-to-board connector market segments, market trends and opportunities, and any further data you may need to thrive in the wire-to-board connector industry. This wire-to-board connector market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wire-to-board connector market size has grown strongly in recent years. It will grow from $4.74 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historical period can be attributed to the miniaturization of electronics, advancements in the electronics industry, increased adoption of automation and robotics, a surge in consumer electronics, and advancements in the development of medical devices.
The wire-to-board connector market size is expected to see steady growth in the next few years. It will grow to $6.07 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The anticipated growth in the forecast period can be attributed to the expansion of the Internet of Things (IoT), integration of artificial intelligence (AI) and machine learning, the increasing adoption of electric vehicles (EV), advancements in medical technology, and the progression of renewable energy projects. Major trends expected in the forecast period include the deployment of 5G technology, the development of high-speed connectors, the rise of USB Type-C connectors, the emergence of waterproof and sealed connectors, and the integration of wireless connectivity.
The growth of the wire-to-board connector market is expected to be propelled by the increasing number of data centers. Data centers serve as physical spaces that house the necessary IT infrastructure for executing applications, providing services, and storing and managing associated data. Wire-to-board connectors play a critical role in data centers by establishing electrical connections between circuit boards and various devices, enhancing data transmission speeds and generating more precise signals with reduced heat production. For example, according to Savills Korea in August 2021, the total capacity of data centers reached 430 MW in terms of IT load by the end of 2020, with projections indicating a 700 MW increase during 2021-2023 in Korea alone. Furthermore, the United States International Trade Commission reported over 2,600 data centers in the US in 2021, and nearly 8,000 new data centers globally were established in the same year. Hence, the growing number of data centers is a driving force behind the wire-to-board connector market's growth.
The increasing adoption of Internet of Things (IoT) devices is also expected to contribute significantly to the growth of the wire-to-board connector market. IoT involves a network of physical devices embedded with sensors, software, and other technologies for data exchange over the internet. Wire-to-board connectors play a crucial role in enabling secure and reliable connections within IoT devices, facilitating communication between internal components such as sensors, processors, and communication modules and the main circuit board. The seamless exchange of data and power distribution within IoT devices ensures efficient functionality and communication across the interconnected network of physical objects. According to Dataprot in May 2023, there were over ten billion active IoT devices in use in 2021, and this number is expected to increase to 25.4 billion by 2030. Therefore, the rising adoption of IoT devices is a key factor driving the wire-to-board connector market's growth.
Major companies in the wire-to-board connector market are innovating by introducing new products, such as horizontal wire-to-board connectors. These connectors facilitate electrical connections between printed circuit boards and wires in a side-by-side, horizontal orientation. For instance, in April 2022, KYOCERA AVX Components Corporation launched the UL-approved 9296-400 Series 4mm-pitch horizontal poke-home connectors, offering a compact, high-temperature, and halogen-free SMT package with the industry's lowest height profile for 18-26AWG wire. The connectors support easy strip-and-poke-home wire insertion and twist-and-pull wire extraction, providing high repeatability, mechanical stability, and wire retention strength for applications in machine controls, motors, sensors, LED bulbs, and more.
Major companies are also developing new wire-to-board connectors with high heat resistance. High heat resistance is crucial for ensuring that connectors can withstand elevated temperatures without degradation or loss of functionality. For example, in December 2021, Hirose Electric Group launched the GT50 Series, a 1mm pitch wire-to-board connector designed for automotive applications. This series features a compact size, high heat resistance up to 125°C, and a robust design to endure vibrations, addressing the growing need for smaller connectors in electronic vehicles. The GT50 Series meets automotive quality standards while providing reliability in high-density mounting environments and limited mounting space.
In July 2022, Littelfuse, Inc. expanded its capabilities and technologies in the wire-to-board connector market by acquiring C&K Components Inc., a manufacturer and designer of robust electronic switches and interconnector products, for an undisclosed amount. This strategic acquisition allows Littelfuse to offer comprehensive solutions to a diverse customer base.
Major companies operating in the wire-to-board connector market report are Hon Hai Precision Industry Co Ltd., Yamaichi Electronics Co.Ltd., 3M Co., Fujitsu Limited, Luxshare Precision Industry Co. Ltd., Kyocera Corporation, TE Connectivity Ltd., Amphenol Corporation, Molex LLC., Phoenix Contact GmbH and Co KG., ITT Inc., Japan Aviation Electronics Industry Ltd., Panduit Corp., Hirose Electric Co Ltd., Wurth Elektronik GmbH and Co KG., Harting Technology Group, Lemo SA, Samtec Inc., Smiths Interconnect Inc., AVX Corporation, Glenair, Souriau SAS, ERNI Deutschland GmbH, Rosenberger Group, I-PEX Inc., Omnetics Connector Corporation, JST MFG Co Ltd., Nicomatic SA, Advanced Interconnections Corp
Asia-Pacific was the largest region in the wire-to-board connector market in 2023 and is expected to be the fastest-growing region in the wire-to-board connector market report during the forecast period. The regions covered in the wire-to-board connector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the wire-to-board connector market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The wire-to-board connector market consists of sales of pin header connectors, socket connectors, IDC connectors, and Board connectors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Wire-to-Board Connector Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wire-to-board connector market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for wire-to-board connector ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wire-to-board connector market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.