NEW YORK, June 13, 2024 /PRNewswire/ — The global filtered connectors market size is estimated to grow by USD 2.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.93% during the forecast period. Growing use of electronics in military and rising military expenditure is driving market growth, with a trend towards increased adoption of automotive electronics. However, increase in wage rate and competition poses a challenge. Key market players include AEI Group, Amphenol Corp., Littelfuse Inc., Carlisle Companies Inc., CONEC Elektronische Bauelemente GmbH, Conesys, Connective Design Inc., Cristek Inc., Deltron AG, Glenair Inc., HARTING Technology Group, ITT Inc., The Phoenix Co. Of Chicago Inc., Molex LLC, Outman Industries Inc., Smiths Group, SOURIAU SAS, TE Connectivity Ltd., Weald Electronics Ltd., and APC Technology Group Plc.
Technavio has announced its latest market research report titled Global Filtered Connectors Market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Type (Rectangular connectors and Circular connectors), Application (Commercial, Military and aerospace, Industrial, and Medical), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
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Region Covered |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key companies profiled |
AEI Group, Amphenol Corp., Littelfuse Inc., Carlisle Companies Inc., CONEC Elektronische Bauelemente GmbH, Conesys, Connective Design Inc., Cristek Inc., Deltron AG, Glenair Inc., HARTING Technology Group, ITT Inc., The Phoenix Co. Of Chicago Inc., Molex LLC, Outman Industries Inc., Smiths Group, SOURIAU SAS, TE Connectivity Ltd., Weald Electronics Ltd., and APC Technology Group Plc |
Key Market Trends Fueling Growth
The global filtered connectors market is poised for growth due to the rising adoption of advanced electronic systems in automobiles. These systems, including driver assistance, audio controls, cruise control, and diagnostic systems, require filtered connectors for efficient information transfer. The increasing popularity of electric vehicles (EVs) also contributes to market growth, as they use more filtered connectors for charging systems.
Government incentives and policies, such as subsidies and tax rebates for EVs, further boost sales.
The Filtered Connectors market is currently experiencing significant growth, with devices and applications requiring secure and efficient data transfer solutions. The use of microservices architecture and containerization technologies has led to an increase in demand for connectors that can seamlessly integrate various systems.
Devices such as IoT sensors and industrial machinery require connectors to transmit data to cloud platforms for analysis and automation. The trend towards remote work and virtual collaboration has also fueled the need for secure and reliable connectors.
Additionally, the adoption of modern technologies like AI and machine learning has created a demand for connectors that can handle large data volumes and complex workflows. Overall, the Filtered Connectors market is expected to continue its growth trajectory in the coming years.
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Market Challenges
The global filtered connectors market faces challenges from rising wage rates and increased competition, reducing profitability and profit margins for vendors. To maintain market positions, manufacturers are pursuing mergers and acquisitions. Intense competition leads some companies to use less costly raw materials, but without proper research, this can result in inferior quality connectors and potential quality issues.
The Filtered Connectors Market faces several challenges in implementing and integrating systems. Compatibility issues between different systems can be a significant challenge. The need for customization and the complexity of connecting various systems can also be obstacles.
Additionally, security concerns and data privacy regulations add to the complexity. Military and government organizations require advanced security measures, while commercial enterprises prioritize ease of use and cost-effectiveness.
The use of common protocols and standards can help mitigate these challenges, making it essential for companies to stay updated with the latest technologies and best practices.
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Segment Overview
Type
1.1 Rectangular connectors
1.2 Circular connectors
Application
2.1 Commercial
2.2 Military and aerospace
2.3 Industrial
2.4 Medical
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 Rectangular connectors- Rectangular connectors play a crucial role in the aerospace industry by increasing connector density and saving space and weight. TE Connectivity’s new industrial mini I/O cable connectors are an example, offering high vibration resistance and a robust locking system. These connectors are suitable for various applications, from drones to communication systems and satellites. The benefits and advancements of rectangular connectors will drive growth in the aerospace market during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Filtered Connectors Market encompasses a diverse range of applications in various industries. These connectors play a crucial role in electronic devices, particularly in aerospace, defense, healthcare, industrial automation, consumer electronics, transportation, and automotive applications. The demand for compact design in personal electronics devices, telecommunication industry, electric vehicles, and broadband modems necessitates the use of filtered connectors to mitigate unwanted electromagnetic interference (EMI) and RF noise.
Electrical equipment, such as cable modems, television connectors, and virtual reality systems, also benefit from the use of filtered connectors. Miniaturization is a significant trend in the market, driving the development of advanced filter elements for various applications.
Market Research Overview
The Filtered Connectors Market encompasses a range of solutions designed to facilitate seamless data exchange between various systems and applications. These connectors undergo a rigorous filtering process to ensure secure and efficient data transfer. Devices, applications, and technologies are integral components of this market.
The market caters to diverse industries, including manufacturing, healthcare, finance, and education, among others. Connectors support various protocols such as FTP, SFTP, HTTP, and MQTT, among others. They offer features like data transformation, error handling, and security. The market is driven by factors like increasing digitalization, growing data volumes, and the need for interoperability. It is expected to grow significantly in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Rectangular Connectors
Circular Connectors
Application
Commercial
Military And Aerospace
Industrial
Medical
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio