IT Connector Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
IT Connector Market Analysis
The IT Connector Market is expected to register a CAGR of 6.3% over the forecast period. Factors, such as the need for high-speed connections, the automobile sector's expansion, and a significant increase in investment in underwater cables and military systems, are among the drivers expected to propel the IT connector market over the study period.
The market for IT connectors is booming due to the global digital transition. Reliable connectivity, high performance, and efficiency are the major factors boosting the market's growth. High-performance networks are essential for business, manufacturing, security, and media. The growing demand for media and entertainment and the increasing internet penetration across emerging economies significantly multiplied the number of television and internet subscribers and users of smartphones, PDAs, and tablets. These factors created an immense demand for connector adapters.
Growing demand for connectivity and internet access is positively driving the market's growth. The growing need for higher internet speed and better connectivity eventually requires robust and efficient cable connectivity, fulfilled by fiber optic technology. The connectors are helpful in the protection of optic fiber, which drives the market's growth positively. In 2022, the ITU predicted that 5.3 billion people, or 66% of the world's population, will be utilizing the internet. This marks a 24% growth from 2019, with an expected 1.1 billion individuals joining the internet throughout that time. The rising number of fixed broadband connections has enabled the growth of the market studied. According to ITU, fixed-broadband subscriptions increased by around 9% annually in the last five years. According to ITU, in 2021, fixed broadband subscriptions reached 17 active subscriptions per 100 inhabitants of the world population. This increase in broadband connections is expected to provide an opportunity for the growth of the market studied, as installing such connections requires connectors.
The outbreak of COVID-19 led China to announce a lockdown and practice social isolation in the initial months of 2020. This factor halted manufacturing and the production of various equipment and machinery for several weeks. The IT connector industry was uniquely positioned to aid directly in the fight against COVID-19. Connectivity products are crucial for manufacturing electronics, such as computers, peripherals, and business equipment. Electronics companies have been considered essential businesses in several regions. Amid severe constraints, they provided OEMs with the parts necessary to manufacture the products required for protecting and offering care for people affected by COVID-19, while taking precautions to protect their employees.
IT Connector Market Trends
This section covers the major market trends shaping the IT Connector Market according to our research experts:
IT and Telecom is Expected to Hold Significant Share
- One of the main drivers propelling this business is the increased expenditure on installing 5G networks due to the shift in consumer preference toward smartphone handsets and next-generation technology.
- Other possible drivers of business expansion include an increase in smartphone subscribers, skyrocketing high-speed internet connection demand, and increased demand for value-added management services. For instance, in July 2022, according to the Secretary of the US Department of Agriculture (USDA), the Department spent USD 401 million, providing 31,000 rural people and businesses in 11 states access to high-speed broadband, thus boosting rural infrastructure.
- Increasing investments by major companies worldwide in telecommunication are expected to contribute to market growth over the forecast period. For instance, in August 2022, China Mobile, the biggest provider in the world by the number of customers, spent CNY 58.7 billion (around USD 8.5 Billion) in the 5G market in the first half of 2022. Additionally, China Mobile stated that it was still promoting the joint development and deployment of its 5G infrastructure, with China Broadcasting Network Corporation utilizing spectrum in the 700 MHz range.
- In April 2020, Cinch Connectivity Solutions, a provider of RF connectivity solutions, announced the release of 2.92 mm, 40 GHz cable assemblies, utilizing two Cinch brands, connectors from Johnson, and low-loss PTFE cables from Semflex. The latest 40 GHz Test Cable Assemblies uses 2.92 mm connectors from Johnson, coupled with Semflex HP160S cable with Vp (velocity of propagation) of 76%, offering high performance for test and measurement environments. These cable assemblies provide 40 GHz operating performance and a VSWR max of 1.25. Ideal applications align with the company's 5G/mm-wave product development to support communications, telecom, and test & measurement industries.
To understand key trends, Download Sample Report
Asia-Pacific is Expected to Witness Fastest Growth
- The continuous advancements in communication technologies are the major factors boosting the growth of the IT connectors market, precisely the demand for and the production of consumer electronics in the Asia-Pacific region. For instance, in October 2021, Nokia revealed that its 5G Core was currently supporting APT's live 5G Non-Standalone (NSA) and VoLTE service by leveraging the MOCN's ability to access the 5G RAN.
- Moreover, IT and communications support for automated processes in industrial applications facilitated easier adoption among the manufacturers. Sensor components, faster networks, and flexible interfaces with high levels of reliability and secured hierarchical access, as well as error-correction options, added productivity, continued quality deliveries, and minimized manufacturing costs in the region.
- The government organizations in the region have undertaken many initiatives and regulations to improve the network infrastructure. Growing initiatives are expected to augment the demand for high-speed data transmission cables and connectors. For instance, in September 2022, India's IT Minister announced that the government is spending nearly USD 30 billion to create a strong digital network in remote regions and provide last-mile network connectivity for 4G and 5G in each village nationwide.
- The growing industrial, commercial, and household electronics sectors are expected to impact the Asia Pacific region positively. The installation of connections around the country will be further complemented by government initiatives to enhance the current telecommunications networks.
To understand geography trends, Download Sample Report
IT Connector Industry Overview
The global IT connector market is fragmented, as the players can quickly enter the market owing to the rising demand and low capital investment required. Moreover, the companies in the market have been continually launching or updating their product portfolio. Some of the key players include A3M Company, Molex Inc. (Koch), TE Connectivity Limited, Amphenol Corporation, and Samtec Inc.
In December 2021, Phoenix Contact, a producer of industrial automation solutions, introduced a few new PCB-to-Cable connections for use in applications involving the coupling of signal, data, and power.
In October 2021, CommScope released its new protected connector, Prodigy, which is meant to expedite and improve field deployment for future fiber networks. For compatibility across various fiber terminals and wire assemblies, the Prodigy system uses universal and compact form toughened connections. Smaller, higher-density terminal layouts are made possible by the small footprint, and the self-aligning connections reduce the possibility of connection mistakes.
IT Connector Market Leaders
Molex Inc. (Koch)
TE Connectivity Limited
*Disclaimer: Major Players sorted in no particular order
IT Connector Market News
- March 2022: The Interconnect Group at CUI Devices announced the inclusion of circular connections to their connector's solution range. The CDM12 series from CUI Devices offers a variety of male or female variants with contact position possibilities of 3, 4, 5, 8, and 12 pins. It is available in M12 connection types. All M12 connection versions have IP67 ratings to withstand extreme conditions in industrial and manufacturing automation applications.
IT Connector Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Advancements in the Telecom Sector Coupled With Greater Demand for Improved Connectivity
4.2.2 Increasing Demand for High Bandwidth
4.3 Market Challenges
4.3.1 Volatile Prices of Raw Material
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the IT Connector Industry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 PCB Connectors
5.1.2 IDC Connectors
5.1.3 IO Connectors
5.1.4 Other Types (Circular/Rectangular)
5.2 By End-user Vertical
5.2.1 IT and Telecom
5.2.2 Consumer Electronics (including Computer, Peripherals, and Business Equipment)
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 Molex Inc. (Koch)
6.1.3 TE Connectivity Limited
6.1.4 Amphenol Corporation
6.1.5 Samtec Inc.
6.1.6 Almita Co. Limited
6.1.7 Harwin Group
6.1.8 Conec Electronische GmbH
6.1.9 Harting Technology Group
6.1.10 JST Connectors
6.1.11 Würth Elektronik GmbH & Co. KG
6.1.12 Cixi Lanling Electronic Group
6.1.13 Hon Hai Precision Industry Co., Ltd.
6.1.14 WAGO Group
6.1.15 Phoenix Contact GmbH & Co KG
6.1.16 Fischer Connectors SA
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
IT Connector Market Research FAQs
What is the current IT Connector Market size?
The IT Connector Market is projected to register a CAGR of 6.3% during the forecast period (2023-2028).
Who are the key players in IT Connector Market?
3M Company, Molex Inc. (Koch), TE Connectivity Limited, Amphenol Corporation and Samtec Inc. are the major companies operating in the IT Connector Market.
Which is the fastest growing region in IT Connector Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in IT Connector Market?
In 2023, the North America accounts for the largest market share in the IT Connector Market.
IT Connector Industry Report
Statistics for the 2023 IT Connector market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. IT Connector analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.