A module connector is a device that provides inter communication between the electrical components in a circuit. A module connector integrates different or similar contact systems in a network. These contact systems can consist of power and signal contacts. These module connectors are designed according to their end-use application. These connectors are utilized in various industries including energy & utilities, automotive, medical engineering, and transportation. Module connectors are not only designed for cable-to-cable connection, but also to connect a cable to a fixed interface, such as switch cabinet and printed circuit board (PCB). They are usually sealed based on their applications.
Expansion of the global module connectors market is driven by the general economic outlook coupled with advancements in the functionalities of the connector. The transition to digitalization of industry (Industry 4.0) electro mobility and renewable energies are some trends that offer significant opportunity to the module connectors industry. In recent years, tremendous growth and advancements have been witnessed in communication and information technologies, and global telecommunication networks have witnessed massive expansion. Significant expansion of wide area network has been observed, which has been followed by a recent emphasis on metropolitan area networks. Bandwidth usage is rising significantly, and the demand is not likely to slow down in the near future. Rapid rise in e-commerce activities and increase in usage of video conferencing, live streaming, and high speed internet have led to considerable rise in demand for bandwidth and capacity. Increasing demand for bandwidth is projected to prompt the governments to lay large-scale fiber optic cables in their respective countries. This, in turn, is estimated to boost the demand for module connector that would meet the desired requirements while maintaining the same level of reliability.
The global module connector market can be segmented based on end-use industry, enterprise size, and region. Based on end-use industry, the market can be segmented into consumer electronics, data technology, automotive electronics, industrial electronics, and telecommunications. Industrial electronics segment and telecommunications industry segment are expected to account for a prominent share of the global module connector market due to the increasing demand for customized module connectors from these industries for crucial applications. In terms of enterprise size, the market can be segmented into small & medium size enterprises and large enterprises. Large enterprise segment is expected to have larger share in the market throughout the forecast period.
In terms of region, the global module connector market can be classified into North America, Europe, Middle East & Africa, Asia Pacific, and South America. Asia Pacific is expected to hold a major share of the global module connector market during the forecast period. Rising industrialization coupled with infrastructure development in this region is expected to drive the module connector market in Asia Pacific. Furthermore, demand for bandwidth in most countries in the region is rising significantly, owing to the increasing number of internet-based applications coupled with changing protocol standards and traffic patterns. This, in turn, fuels the demand for laying of fiber optic, thereby boosting the module connector market in Asia Pacific. Expansion of the fiber optic cable market in the supporting the growth of the module connector market in Europe. Increase in infrastructure developments in Middle East & Africa and South America is expected to propel the module connector market in these regions.
Key players operating in the global module connector market include HARTING Technology Group, Siemens AG, Weidmüller Interface GmbH & Co. KG., and OXID eSales AG. These players are focusing on providing customized solutions to their clients in order to strengthen their position in the market. Players in the market are also enhancing their distribution network in order to deliver their services in the local untapped markets.
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