DUBLIN–(BUSINESS WIRE)–The “North America High Speed Connector Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Product and Application” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market is expected to reach US$ 2,224.22 million by 2027 from US$ 1,159.98 million in 2019. The market is estimated to grow at a CAGR of 8.6 % from 2020 to 2027.
The report provides trends prevailing in the North America high speed connector market along with the drivers and restraints pertaining to the market growth. Rising networking and communication sector and growing electronics and infotainment systems in automotive sector are the major factor driving the growth of the North America high speed connector market. However, high price of connectors and technical challenges hinder the growth of North America high speed connector market.
In case of COVID-19, North America is highly affected specially the US. The majority of the manufacturing plants were either temporarily shut or are operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the US manufacturers. Since, the US has a larger density of manufacturers across industries, the demand for connectors and high speed connector are always high. However, the continuous growth in number of infected cases, government norms pertaining to physical distancing, and individual safety measures, the manufacturers have restricted their workforce, which resulted in limited production, thereby reflecting lesser demand for high speed connector. This has negatively impacted the high speed connector market. The high speed connector market players in the country are seeking alternative approaches to pace up the production, which would exhibit growth in the market size in the coming years. Several Canadian and Mexican manufacturers rely on US-manufactured electronic components. Pertaining the reliance on the US-manufactured components, the manufacturers have been experiencing delay in securing components, which is slowing down respective manufacturers production volumes. This also have had an adverse impact on high speed connector market.
The North America high speed connector market is segmented based on product, application, and country. Based on product, the market is segmented into board-to-cable, board-to-board, and others. The board-to-board segment held the largest market share in 2019 and board-to-cable segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into communication, automotive, aerospace & defense, energy & power, electronics, and others. The aerospace & defense sector held the largest market share in 2019 and automotive sector is expected to be fastest growing during forecast period.
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Market Dynamics
Drivers
- Rising Networking and Communication Sector
- Growing Electronics and Infotainment Systems in Automotive Sector
Restraints
- High Price of Connectors and Technical Challenges
Opportunities
- Growing Developments in Network Services – 5G Network
Future Trends
- Small Size, Watertight, and Flexible High-Speed Connector
Companies Mentioned
- 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.
- Yamaichi Electronics Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/8fculi
