Market Size of Wire-to-Board Connector Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.75 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wire-to-Board Connector Market Analysis
The wire to board connector market is expected to grow at a CAGR of 5.75% during the forecast period (2021 - 2026). The increasing government initiatives to switch to smart meters drives the demand for wire-on-board connectors. For instance, Italy is the first European country to begin large scale smart gas meter installations. The National Regulatory Authority for Electricity, Gas, and Water aims to make 60% of residential gas meters and 100% of industrial gas meters, smart, by 2018 and full coverage by 2020.
- Wire-to-Board connector system addresses the needs of the fast-changing electronics industry by providing a single system with different mating and voltage configurations. This allows the manufacturers to design various models around a single connector type and footprint pattern.
- The wire-to-board connector design varies from miniature to heavy-duty industrial connectors and also gratifies the economical requirements of the consumers. This simplifies the issues related to maintenance, manufacturing, and repair where it can easily replace specific, affected subsystems, thereby reducing machine downtimes.
- The wire-to-board market is likely to be driven by the rising trend of growing usage across the consumer electronics sector along with its application in the connecting peripheral device. This can be attributed to the fact of increasing application of computer and communication technology all over the world. On the basis of application, the market is finding its usage primarily across the automotive, medical, and data/telecom sector.
- The growing demand for high-speed connectivity and transmission bandwidth are the other factors driving the growth of the wire-to-board connector market. One of the dynamics fueling this market is the emergence of IoT technology due to the Increasing demand for high-bandwidth and high-speed connectivity along with its application across multiple end-user industries.
- The market is driven by multiple product range across the wire-to-board connectors with a 5 mm pitch size, which is expected to grow during the forecast period. This is mainly because of the growing HVAC system controls in the residential application, where air conditioners and heaters, washing machines, refrigerators, stoves, and cooktops are maximally used. The 10.16 mm pitch size connectors are driven by the growing application across robotics, medical, communication, and office automation. However, increasing network complexity with continuous optimization of component size may hinder the market growth.
