The MEA high speed connector market is expected to grow from US$ 124.49 million in 2019 to US$ 162.69 million by 2027; it is estimated to grow at a CAGR of 3.6 % from 2020 to 2027.
The rising developments in network services, such as 5G, across MEA is expected to accelerate the growth of the MEA high speed connector market during the forecast period. High-speed connectors have huge potential in the 5G computing and networking market as the technology is getting used for a wide range of products, such as 5G computing and networking modems and 5G Antenna. The rising adoption of 5G in developed and developing countries in MEA is improving internet services and boosting the demand for supporting devices. Significant growth of the 5G-based devices market is increasing the demand for 5G supporting high speed connector. Rising developments in internet services, such as 5G, 4G, VoLTE, and LTE, are creating an opportunity for the MEA high speed connector market to grow in the coming years. The high speed connector is getting adopted in the 5G supporting smartphones, high speed RF, and wireless devices. Advanced technology offers various benefits such as enhanced performance, compact size, and assured reliability with low cost. Market players across MEA are offering advanced solutions for improved speed and performance. Companies are developing connectors specifically for 5G infrastructure. For instance, TE Connectivity offers ERFV coax connectors, Samtec offers Precision RF Connectors, and Molex offers the 2.2–5 form-factor RF connector. Such thrive to deliver the improved connectors compatible for 5G infrastructure is expected to escalate the growth of the MEA high speed connector market in coming years.
Countries in MEA, especially South Africa, are adversely affected due to the COVID-19 outbreak. The MEA high speed connector market is majorly hindered by the disruption in the supply chain. Pertaining to the closure of borders of countries, the supply chain of several components and parts have been disturbed. Also, the demand for high speed connector has weakened since the eruption of COVID-19 in MEA countries. This has resulted in a loss of business among the high speed connector manufacturers offering their products to various industries in the region. Countries with higher manufacturing units, such as Turkey, Israel, and South Africa, are witnessing critical scenarios in procuring various electronics including high speed connector, which is restraining the MEA high speed connector market. Impact of the pandemic is expected to be quite severe in coming years, which is would hinder the growth of the MEA high speed connector market during the forecast period.
Based on application, the communication segment is expected to dominate the MEA high speed connector market during the forecast period. The communication segment is growing at tremendous rate due to advent of the 5G network, fiber optic-based broadbands, 4G LTE, and others. The population in developing and developed nations across MEA is becoming techno-savvy and generating the high demand for high speed internet services. In addition, the COVID-19 pandemic has boosted the demand for internet services, as majority of population is working from home. Hence, communication sector is expected to grow at significant rate owing to the high speed connectivity requirements. With rising growth, the demand for supporting high speed connectors such as RF connector for 5G networking devices, PCB connectors for computers, and others also experiencing the significant demand in communication sector. Companies across MEA such as Molex and TE Connectivity formed Dual Source Alliance (DSA) agreement to develop high speed backplane connectors for data communications applications. To achieve high speed connectivity in communication with the emergence of 5G, the demand for high speed connector is expected to increase during the forecast period.
The overall MEA 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 MEA 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 MEA high speed connector market. Fujitsu Limited; Molex, LLC; OMRON Corporation; SAMTEC, Inc.; and TE Connectivity Ltd. are among the players operating in the market.