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Industrial Connectors Market Drivers Increasing adoption of connectors in data centers

HYDERABAD, TELANGANA, INDIA, November 2, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Industrial Connectors Market size was valued at $5.3 billion in 2020, and it is estimated to grow at a CAGR of 6.9% during 2021-2026. The growth is mainly attributed to the increasing adoption of IoT and automation technologies in industries is set to drive the market growth. Integration of superior connector products in automotive parts such as powertrain, safety and body electronics is set to propel the market growth. Additionally, increasing trend for connected cars and the adoption of connectors in automotive sector is set to propel the market growth. The growing demand for safety systems thus has a direct effect on the demand for industrial connectors, which in turn drives market growth. Circular connectors are widely used to enable maximum connectivity of the electric or signal transmission in various applications particularly HDMI cables and Electronic peripherals. For instance, total net generation of electricity in United States reached 310,710 thousand MWh on March 2021 with a 1% increase from March 2020 and is expected to elevate in forecast period owing to high electricity demands. This will provide significant growth in the demand of circular connectors to enable maximum connectivity in data streams further propelling its market growth in North American Market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/18191/industrial-connectors-market.html

Key takeaways:

1. Europe dominated the Industrial Connectors market in term of revenue in 2020 owing to the presence of major number of players.

2. Adoption of advanced technologies such as IoT, automation technologies in industries and stringent regulations to use advanced equipment is poised to propel the market growth.

3. Increasing adoption of Industrial Connectors in data centers with growing trend of 5G technology is set to drive the market.

4. Designing of miniaturized connectors is the major challenge that hampers the market growth.

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Segmental Analysis:

1. PCB Connector held the major market share of 28.8% in 2020. PCB wire to board type of connectors are used in connecting a wire to a printed circuit board (PCB), enabling connectivity between circuits.

2. Semiconductor & Electronics is the fastest growing segment in Industrial Connectors market and estimated to grow at a CAGR of 9.0% during forecast period 2021-2026.

3. APAC dominated the Industrial Connectors market in 2020 with a market share of 39.4%, followed by North America and Europe owing to the presence of large number of players. In addition to these, high adoption of automation technologies in industries which drives the market growth.

Competitive Landscape:

The top 5 players in the Industrial Connectors industry are -

1. Molex Incorporated

2. TE Connectivity

3. Amphenol Corporation

4. Aptiv (Delphi Connection Systems)

5. JST Mfg. Co. Ltd.

Click on the following link to buy the Industrial Connectors Market Report:
https://www.industryarc.com/reports/request-quote?id=18191

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. I/O Connector Market
https://www.industryarc.com/Report/19302/io-Connector-market.html

B. Global Automotive Connectors Market
https://www.industryarc.com/Research/Global-Automotive-Connectors-Market-Research-512372

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IndustryARC
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