The APAC high speed connector market is expected to grow from US$ 1,037.51 million in 2019 to US$ 2,128.62 million by 2027; it is estimated to grow at a CAGR of 9.7 % from 2020 to 2027.
Features such as high-speed, flexile, tiny, and waterproof connector are expected to escalate the APAC high speed connector market during the forecast period. Miniaturization is bringing change in the electronics design and structure to utilize the space and offer a compact device for customers. The electronics devices are getting smaller with a miniaturized component, which is creating a demand for the miniaturized high speed connector. Market players across APAC are developing new miniaturized connectors to address the need of military, medical, instrumentation, UAVs, and industrial applications for higher data transmission. The increasing demand for microelectronics from consumers is expected to drive the trend of miniaturized connectors during the forecast period across APAC. High-speed connectors are evolving with new material and design to offer enhanced solutions such as flexibility and waterproof characteristics. For instance, in January 2020, MINEBEA MITSUMI Inc. introduced a new Thunderbolt 3 certified, waterproof, USB Type-C connector for smartphones and other information terminal devices. These connectors are dustproof and waterproof with the capacity to transfer high speed data of up to 40 Gbps. Technology is playing a vital role in connector design improvisation and introducing new trends in the APAC market. For instance, Apple Inc. is also developing a new magnetic connector solution for upcoming devices to ease the connectivity processes. Such rising development and improvisation in connector design are expected to drive the growth of the APAC high speed connector market during the forecast period.
Countries in APAC, especially India, are adversely affected by the COVID-19 outbreak. China has significantly large number of electronics and semiconductor manufacturers, which are operating and supporting several industries across the world. The high speed connector market players in China have observed tremendous impact on respective business during Q1 of 2020, which have reflected stiff decline in revenue generation and resulted in loss in China and APAC high speed connector market. In addition, China accounts for the significantly highest number of national and international manufacturers that demand high speed connector. The lockdown measures and physical distancing norms imposed by the Chinese government during Q1 has reflected huge fall in demand for the high speed connector, which ultimately resulted in decimation in revenue generation in the high speed connector market. Japan and India are the other two countries that have large number of electronics and semiconductor manufacturers and end users. These two countries have also registered highest number of infected cases, and are still continuing the battle against the spread. Though the countries have eased the lockdown norms and allowed manufacturing plants to operate, the decrease in demand and supply has been severely affecting the high speed connector market player in both the countries. The market would witness recovery by late 2021 as the entire electronics & semiconductor manufacturing sector has been rigorously affected.
Based on product, the board-to-cable segment is expected to dominate the APAC high speed connector market during the forecast period. Board-to-cable connector is used to form the connection to different cables. The circuit boards (PCBs) are connected to various devices, equipment’s, and other instruments with the help of cable. The bard-to-cable connector enables the routing of power and signals between PCBs used in telecommunications networks, automotive and industry equipment. The segment has major growth in electronics sector owing to advancement in connecting cables and supporting connectors. For instance, Japan Aviation Electronics Industry, Ltd. Company offers the range of USB Type-C Connector used in the board-to-cable applications. The company introduced X07 Series for mobile phones, imaging devices and various PC with compatibility for 10Gbps superspeed communication. The adoption rate for the board-to-cable high speed connector would surge during the forecast period owing to the rise in demand for the same among various industries and relatively low cost nature of the connectors. In addition, it is also anticipated that the board-to-cable segment is expected to observe emergence of newer players, which would drive the growth of the APAC high speed connector market for the board-to-cable segment during the forecast period.
The overall APAC high speed connector market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC high speed connector market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, high speed connector market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC high speed connector market. Fujitsu Limited; Hirose Electric Co., Ltd.; IMS Connector Systems GmbH; Molex, LLC; Neoconix, Inc.; OMRON Corporation; OUPIIN ENTERPRISE CO., LTD; SAMTEC, Inc.; TE Connectivity Ltd.; and Yamaichi Electronics Co., Ltd. are among the players operating in the market.