PCB Connector Market size was over USD 13.06 billion in 2024 and is likely to reach USD 20.94 billion by the end of 2037, growing at around 3.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of PCB connector is assessed at USD 13.45 billion.
The major factor that dominates the market revenue is the growing demand for electric vehicles. Global sales of electric vehicles exceeded over 9 million in 2022, and this year's sales are predicted to increase by another about 34% to close to 13 million. Hence, the demand for PCB connectors is also growing. PCBs are a crucial component of electric vehicles, providing connections between the vehicle's many electrical components. They work great in electric cars as they are more compact, dependable, and lighter than conventional wire.
Furthermore, in various nations, governments are working towards encouraging the adoption of electric vehicles through several schemes and offers. Also, there is great investment in the development of EV charging stations which is further expected to boost the market expansion for PCB connectors.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
3.7% |
Base Year Market Size (2024) |
USD 13.06 billion |
Forecast Year Market Size (2037) |
USD 20.94 billion |
Regional Scope |
|
Type (Board-to-Board Connectors, Wire-to-Board Connectors, Power Connectors, RF Connectors, Optical Connectors, Pin Header Connectors, USB Connectors, Others)
The board-to-board connectors segment in the PCB connector market is projected to gather the highest revenue share of 30% during the forecast period. The growth of the segment is set to be influenced by the rise in several data centers. As of December 2023, there were roughly 10,976 data center installations worldwide. Hence, board-to-board connectors, with their polarized, flame-retardant housings that safeguard connections in challenging situations, offer dependable, high-speed data transfer with improved clarity to data centers. Further, there has been a surge in the integration of IoT and edge computing in board-to-board connectors. The demand for board-to-board connectors for enabling connectivity between devices, sensors, and edge computing modules is driven by the growing adoption of loT devices and edge computing solutions. This allows for connectors with specific properties such as low power consumption, secure connections, and strong designs for loT and edge computing applications. In the industrial sector, for instance, "edge computing" is used to monitor and manage manufacturing processes in real-time. At the network's edge, board-to-board connectors facilitate the efficient conveyance of data and decision-making by connecting sensors, actuators, and processing units.
End-Use Industry (Telecom, Transportation, Automotive, Industrial, Computer & Peripherals, Aerospace & Defense, Power & Energy)
The automotive segment in the PCB connector market is projected to gather the highest revenue share of close to 35% in the coming years. Automotive electronics, including GPS, anti-lock brake systems, engine controls, rearview cameras, and front lights, employ PCB connectors. Additionally, with the growing demand for autonomous vehicles, the market is expected to grow more further. However, safety is one of the crucial factors in autonomous vehicles. Lane departure systems, sleepy driver alert systems, blind spot recognition, and other features are instances of safety features. Hence, PCB connectors are needed for these systems. PCBs inside the cabin regulate the interior climate, entertainment systems, and navigation.
Our in-depth analysis of the global PCB connector market includes the following segments:
Type |
|
Material |
|
End-Use Industry |
|
APAC Market Forecast
The Asia Pacific PCB connector market is projected to gather the highest revenue share of 30% in the coming years. The major factor to influences the market growth in this region is rising investment in 4.0. Spending on Industry 4.0 increased to about USD 5–7 billion in the Indian manufacturing industry in FY21. Moreover, the market is also projected to grow on account of rising investment in electric vehicles by countries including China, Japan, and India. Additionally, the demand for consumer electronics is also flourishing in this region which includes smartphones and more. Connectors in smartphones provide electricity from the battery to the processor, display, and other parts of the device. The modularity of electrical equipment is further enhanced by PCB connectors.
North American Market Analysis
The PCB connector market in North America is also estimated to have notable growth during the forecast period. This growth could be owing to the growth in several key players indulged in manufacturing more advanced PCB connectors. Also, the demand for various gadgets including digital cameras, printers, and gaming consoles is high in this region owing to the growing disposable income of people. As a result, this factor is also projected to dominate the market expansion in this region.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?