Board-to-Board Connectors Market worth $15.4 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 17, 2023 /PRNewswire/ -- The global board-to-board Connectors market is expected to be valued at USD 11.6 billion in 2023 and is projected to reach USD 15.4 billion by 2028; it is expected to grow at a CAGR of 5.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the board-to-board Connectors market is propelled by rising demand for consumer electronics and automotive electronics. However, significant technical challenges related to signal integrity are restraining the growth of the market.
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Board-to-Board Connectors Market Report Scope:
Pin Headers segment is expected to hold the largest share during the forecast period.
Pin headers are generally more cost-effective compared to other types of board-to-board connectors. Their simple design and construction make them relatively easy and inexpensive to manufacture, resulting in competitive pricing. This affordability makes pin headers a preferred choice for applications requiring many connectors or where cost is a significant consideration. Furthermore, pin headers are user-friendly and easy to assemble. They feature a simple plug-and-play design, allowing for quick and hassle-free installation. These features are having a positive impact in the demand for pin headers in the board-to-board connectors market.
Automotive Segment is projected to witness growth at the highest CAGR during the forecast period.
The rise of electric and hybrid vehicles drives the board-to-board connectors industry in the automotive segment. Electric and hybrid vehicles rely heavily on electronic systems for power management, battery control, motor control, and charging infrastructure. The electrification of vehicles requires a high level of interconnectivity between various components, including the battery management system (BMS), power electronics, and control units. This increasing demand for interconnectivity solutions is fueling the automotive segment.
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Asia Pacific to hold the largest share of the board-to-board connectors market throughout the forecast period
Asia Pacific, particularly countries like China, Japan, South Korea, and Taiwan, has established itself as a global manufacturing hub for electronics. These countries have robust manufacturing infrastructures, advanced technology capabilities, and a vast network of suppliers and manufacturers. The region's ability to produce board-to-board connectors efficiently and cost-effectively has contributed to its dominant market share.
The board-to-board connectors companies includes significant Tier I and II players like Amphenol Corporation (US), TE Connectivity (Switzerland), Japan Aviation Electronics (Japan), Hirose Electric Co Ltd (Japan), Molex (US), Omron Corporation (Japan), Samtec (US), Harting Technology Group (Germany), FIT Hon Teng Limited (Taiwan), Kyocera Corporation (Japan), and CSCONN Corporation (China) are some of the key players in the board-to-board connectors market.
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