The North America high speed connector market is expected to grow from US$ 1,159.98 million in 2019 to US$ 2,224.22 million by 2027; it is estimated to grow at a CAGR of 8.6 % from 2020 to 2027.
Growing electronics and infotainment systems in automotive sector is expected to drive the growth of the North America high speed connector market during the forecast period. Connected cars, driverless cars, modern telematics, and advanced infotainment systems are among the modern trends in the automotive sector bolstering the vehicle sale. Electric systems and infotainment systems require advanced high speed connector to proceed with data transfer at a faster rate. Thus, with increasing electrification and telematics in vehicles, the demand for high speed connector is also increasing. The connectors are integrated to establish connection between coaxial cable and transceivers and receivers located in FM signals, vehicle GPS, satellite radio, cellular communications, and safety applications, among others. Hence, with increasing thrive for advanced connectivity in a car, the demand for the high speed connector is also mounting. The advancement in vehicles is driving the North America high speed connector market growth by generating demand for compact and efficient connectivity solutions. Advantages of high speed connectors such as high speed data transfer, advanced connectivity, upgradation in telematics etc. are expected to increase its demand from automobile sector, which would propel the North America high speed connector market.
Countries in North America, especially the US, are adversely affected due to the COVID-19 outbreak. Most of the manufacturing plants are either temporarily shut or are operating with minimum staff. Also, the supply chain of components and parts is disrupted. These are a few of the critical issues faced by the US manufacturers. Since, the US has the highest density of manufacturers across industries, the demand for connectors and high speed connector is always high. Manufacturers across the region have restricted their workforce owing to the continuous growth in the number of confirmed cases, government norms pertaining to physical distancing, and individual safety measures, which resulted in limited production, thereby reflecting lesser demand for high speed connector. The high speed connector market players in the country are seeking alternative approaches to pace up the production, which would exhibit the market growth in the coming years. Several Canadian and Mexican manufacturers rely on the electronic components manufactured in the US. Pertaining to the reliance on the US-manufactured components, the manufacturers have been experiencing delay in securing components, which is hindering respective manufacturers’ production volumes. This also have had an adverse impact on the North America high speed connector market.
Based on product, the board-to-board segment led the North America high speed connector market in 2019. The board-to-board connector are utilized for wide range of industries such as medical equipment, industrial automation, communication networks, aerospace and military manufacturing, and smart appliances. The reason behind increased application is the power offered by the connectors, it is the most powerful connector among the all-other types of connectors. Further, types of mounting and orientation options offered by the board-to board solution such as parallel, perpendicular, U-shaped, horizontal, through-hole, surface mount, locating peg, and others are meeting the customer requirement for improvised designs. Companies across North America are offering improved products for the market with advanced features. For instance, in July 2020, Heilind Electronics company introduced new high speed floating type board-to-board connector for the market. The new product of JAE Electronics’ an AX01 series connector is reduces the chances of misalignments or positional shifts occurs during mounting and assembly. Various advantages of board-to-board connector such as high speed data transfer, availability of different mounting and orientation options, less chance of misalignments are expected to increase its demand, which would drive the growth of the North America high speed connector market in the coming years.
The overall North America 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 North America 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 North America 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.