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 |
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.
Wire-to-Board Connector Industry Segmentation
Wire-to-board connectors, generally utilize crimp technology, that is used to interconnect printed circuit boards (PCBs) by using contacts/terminals attached (crimped) to wires, which are then inserted into the relevant housing to complete the connector system assembly. A wire-to-board connector refers to those connectors that connect a bunch of wires or a wire with a printed circuit board (PCB). Connectors are used to join subsections of circuits together. Moreover, a connector is used where it may be desirable to disconnect the subsections at some future time, such as across the power inputs, peripheral connections, or boards which may need to be replaced.
By End User Vertical | |
Consumer Electronics | |
IT and Telecommunication | |
Automotive | |
Aerospace and Defense | |
Other End User Verticals |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East & Africa |
Wire-to-Board Connector Market Size Summary
The wire-to-board connector market is poised for significant growth, driven by the increasing demand for smart meters and the rapid advancements in consumer electronics. These connectors play a crucial role in the electronics industry by offering versatile mating and voltage configurations, which streamline the design and manufacturing processes. The market is experiencing a surge in demand across various sectors, including automotive, medical, and data/telecom, due to the rising need for high-speed connectivity and the proliferation of IoT technologies. The market's expansion is further supported by the growing application of wire-to-board connectors in smart home devices and industrial automation, particularly in the Asia-Pacific region, where Industry 4.0 initiatives are gaining momentum.
The market landscape is characterized by a mix of established global manufacturers and a robust base of Chinese producers, with key players such as Molex, TE Connectivity, and Amphenol Corporation leading the charge. The ongoing technological advancements and the increasing penetration of smart devices are expected to drive further innovation and application of wire-to-board connectors. Recent developments, such as Molex's introduction of the MicroTPA connector system and TE Connectivity's acquisition of Silicon Microstructures, highlight the industry's focus on enhancing connectivity solutions for diverse applications. As the demand for compact and efficient connectors continues to rise, the wire-to-board connector market is set to witness sustained growth and evolution.
Wire-to-Board Connector Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Demand for Consumer Electronics Along with its Connecting Peripheral Device
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1.2.2 Emergence of Iot Technology with Increasing Demand for the High-bandwidth and High-speed Connectivity
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1.3 Market Restraints
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1.3.1 Increasing Network Complexity with Continuous Optimization of Component Size
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1.4 Industry Value Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Bargaining Power of Buyers/Consumers
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1.5.2 Bargaining Power of Suppliers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Technology Snapshot
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2. MARKET SEGMENTATION
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2.1 By End User Vertical
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2.1.1 Consumer Electronics
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2.1.2 IT and Telecommunication
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2.1.3 Automotive
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2.1.4 Aerospace and Defense
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2.1.5 Other End User Verticals
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 Latin America
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2.2.5 Middle East & Africa
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Wire-to-Board Connector Market Size FAQs
What is the current Wire-to-Board Connector Market size?
The Wire-to-Board Connector Market is projected to register a CAGR of 5.75% during the forecast period (2024-2029)
Who are the key players in Wire-to-Board Connector Market?
Molex LLC, TE Connectivity Ltd, Amphenol Corporation, 3M Company and Samtec Inc. are the major companies operating in the Wire-to-Board Connector Market.