IT Connector Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The global IT Connector Market is segmented by Type (PCB Connectors, IDC Connectors, IO Connectors, and Other Types), End-user Vertical (IT and Telecom and Consumer Electronics), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The report offers market size and values in (USD million) for the above segments during the forecast years.

IT Connector Industry Overview

IT connector market Growth
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.3 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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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 Industry Segments

Connectors are connectivity devices used to transmit data, signals, and power supply for electronic devices. Moreover, the connectors are electro-mechanical devices used for joining electrical terminations. Connectors are also referred to as input-output connectors and form the interface for linking electronic devices with cable help. The market is segmented based on type (PCB Connectors, IDC Connectors, IO Connectors, and Other Types (Circular/Rectangular)), end-user verticle (IT and Telecom, Consumer Electronics (Computer, Peripherals, and Business Equipment)), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). For each segment, the market sizing and forecasts have been provided on the basis of value (in USD million) and volume (in metric tons).

By Type
PCB Connectors
IDC Connectors
IO Connectors
Other Types (Circular/Rectangular)
By End-user Vertical
IT and Telecom
Consumer Electronics (including Computer, Peripherals, and Business Equipment)
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Rest of Asia-Pacific
Latin America
Middle East and Africa

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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.
IT Connector Market - Smartphone Subscriptions

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. 
IT Connector Market - Growth Rate

IT Connector Market Competitor Analysis

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 Top Players

  1. 3M Company

  2. Molex Inc. (Koch)

  3. TE Connectivity Limited

  4. Amphenol Corporation

  5. Samtec Inc.

*Disclaimer: Major Players sorted in no particular order

it connector market

IT Connector Market Recent Developments

  • 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. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Advancements in the Telecom Sector Coupled With Greater Demand for Improved Connectivity

      2. 4.2.2 Increasing Demand for High Bandwidth

    3. 4.3 Market Challenges

      1. 4.3.1 Volatile Prices of Raw Material

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Impact of COVID-19 on the IT Connector Industry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 PCB Connectors

      2. 5.1.2 IDC Connectors

      3. 5.1.3 IO Connectors

      4. 5.1.4 Other Types (Circular/Rectangular)

    2. 5.2 By End-user Vertical

      1. 5.2.1 IT and Telecom

      2. 5.2.2 Consumer Electronics (including Computer, Peripherals, and Business Equipment)

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 South Korea

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 3M Company

      2. 6.1.2 Molex Inc. (Koch)

      3. 6.1.3 TE Connectivity Limited

      4. 6.1.4 Amphenol Corporation

      5. 6.1.5 Samtec Inc.

      6. 6.1.6 Almita Co. Limited

      7. 6.1.7 Harwin Group

      8. 6.1.8 Conec Electronische GmbH

      9. 6.1.9 Harting Technology Group

      10. 6.1.10 JST Connectors

      11. 6.1.11 Würth Elektronik GmbH & Co. KG

      12. 6.1.12 Cixi Lanling Electronic Group

      13. 6.1.13 Hon Hai Precision Industry Co., Ltd.

      14. 6.1.14 WAGO Group

      15. 6.1.15 Phoenix Contact GmbH & Co KG

      16. 6.1.16 Fischer Connectors SA

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

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IT Connector Market Research FAQs

The IT Connector Market is studied from 2018 - 2028.

The IT Connector Market is growing at a CAGR of 6.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

3M Company, Molex Inc. (Koch), TE Connectivity Limited, Amphenol Corporation, Samtec Inc. are the major companies operating in IT Connector Market.

IT Connector Industry Reports

In-depth industry statistics and market share insights of the IT Connector sector for 2020, 2021, and 2022. The IT Connector research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the IT Connector report PDF.

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