In the defence and military industries, portability is becoming increasingly vital. Autonomous robotics, as well as dismounted soldiers, rescue, and recreation devices, require connectivity. To achieve successful mobile army technology, there is a necessity for compact electronic sensors, detectors, transmitters, and strong wiring that are specifically engineered to work on the active battlefield with severe shock, vibration, and extreme environmental exposure. The increasing growth of the medical device industry, on the other hand, is another sector propelling the global adoption of microminiature connector market. One of the primary factors driving the global microminiature circular connector market is the growing need for tiny connectors. The medical device industry's key end-users include hospitals, diagnostic laboratories and imaging centres, ambulatory surgical centres, and clinics. Microminiature circular connectors are used in a variety of medical applications, including diagnostic imaging, patient monitoring, cardiology, electrosurgery, dental equipment, and other medical microminiature connectors. The global prevalence of chronic diseases such as cancer, arthritis, kidney disease, and cardiovascular disease is increasing year after year, driving the demand for circular microminiature connections.
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Government initiatives in several developed countries are assisting in the growth of network infrastructure strengthening. The need for high-speed data transmission cable connectors is growing as a result of these activities. China's government is pushing hard for 5G development, with the goal of having the technology operational by 2020. This necessitates the installation of better cable connectors and other equipment, as well as the updating of communication infrastructure, which is driving the demand of microminiature connector market.
Due to rising demand for commercial applications and harsh military applications around the world, the circular connector category accounted for the biggest market share in 2021. Circular connection has a number of advantages, including resilience, lightness, high density, and shock resistance. Due to rising demand for domestic and commercial applications among the population, the consumer electronics category will account for the biggest market share in 2021. The global microminiature connector market is growing due to an increase in smart devices and smart homes. Due to increased demand for connectors from computers, communications, and consumer electronics applications, as well as for expanded features and connectivity products, Asia Pacific is likely to lead the global microminiature connector market. Furthermore, the region is experiencing massive expansion in the aviation sector, which has resulted in a need for microminiature connectors, due to increased air passenger traffic, worries about flight safety, and lower maintenance costs. Microminiature connections are in high demand in the region due to rising digitization and a large population.
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Key Findings – Global Microminiature Connector Market
- The global microminiature connector market was valued at US$ 1,932.21 Mn in 2021, projected to grow at an estimated CAGR of 5.8% over the forecast period (2022 – 2030).
- The microminiature connector market in North America and Europe is predicted to stay flat between 2019 and 2027, according to the report's key findings. This market in the Middle East and Africa, as well as Latin America, is likely to grow slowly throughout the forecast period. Furthermore, in the near future, microminiature connections are likely to be in high demand in the aerospace and defence industries.
- Global aviation traffic is predicted to expand at a rate of 4.4 percent per year over the next 20 years, necessitating the purchase of 37,400 extra aircraft at a cost of US$ 5.8 trillion, according to Airbus' Worldwide Market Forecast data, which is boosting the demand for microminiature connector market
- Asia Pacific's strong economic expansion is predicted to drive the consumer electronics segment of the microminiature connector market throughout the forecast period.
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Global Microminiature Connector Market
By Design Configuration
By End-use Industry
- Aerospace & Defense
- Consumer Electronics
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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Key players operating in the Global Microminiature Connector Market are:
- AMETEK, Inc.
- Amphenol Aerospace
- AVX Corporation
- Hirose Electric Co., Ltd.
- HUBER+SUHNER AG
- Molex, LLC
- Omnetics Connector Corporation
- Samtec, Inc.
- Smiths Interconnect Group Limited
- SOURIAU SAS
- TE Connectivity Ltd.
- Ulti-Mate Connector Inc.
- Other Market Participants
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