The global connectors market to grow at a CAGR of 4.50% during the period 2017-2021.
Global Connectors Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the sales revenue of connector manufacturers.
A connector is a device that carries electronic or electric signals and connects the I/O component of an electrical or electronic device to the internal controls of a device or a machine. Connectors are one of the most important components in any industry. Connectors are used in almost every equipment and system for the efficient function of devices. Connectors range from miniature connectors to heavy-duty connectors. Based on the application and the quality needed, connectors are designed to serve the purpose intended in the best way possible. However, with the constant upgrades in technology, connectors are designed for multi-purpose and long-term use.
According to the report, one of the major drivers for this market is Miniaturization of electronic devices. Technological advances have influenced the growth of the electronic devices market to a large extent, and the increasing demand for these electronic devices had encouraged manufacturers to invest huge amounts in R&D. With technological advances, the size of electronic devices has reduced considerably over the years. Customers are now demanding highly reliable and compact electronic devices. The miniaturization of electronic devices is mainly due to the need to reduce raw material costs as well as the increasing need for smaller assemblies in certain applications.
The latest trend gaining momentum in the market is Increased adoption of automotive electronics. The increase in the use of connectors in various automotive electronic devices such as navigation, steering, brake, and cruise control is expected to be a new trend in the connectors market. Automotive connectors form a major element in all these electronic devices used in automobiles.
Further, the report states that one of the major factors hindering the growth of this market is Reliability and durability issues. Reliability and durability are two key issues that hinder the growth of the global connectors market. Connectors are vulnerable to damage and other issues due to various field conditions such as voltage fluctuations, temperature excursions, or mechanical forces. In addition, there are failures such as broken latches, separation of mating joints without any external causes, or overheating of joints due to misalignments, which occur due to poor design.