The global card connector market is predicted to garner a healthy CAGR during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. Card connectors deliver longevity, technological capability, and great durability. Connectors can be defined as the end of a jack or plug, which connects the card to the port. A card edge connector can be referred to as a series of metal tracks ending at the edge or surface of a car and is plugged into an edge connector, thus enabling data transmission.
Market Potential and Pitfalls
The major factors pushing the global card connector market uphill include mounting demand for measurement equipment and control equipment in different industrial setups, advancing technologies, and soaring demand for gaming devices. Soaring adoption of card edge connectors in LED lighting and rising implementation of high-end medical devices are likely to encourage the growth of the card connector market across the globe.
The global card connector market is likely to exhibit huge potential in the market owing to the increasing automation level in the industrial sector. Increasing investments towards the R&D sector has further improved the scope of the market’s growth. Moreover, mounting demand for electronics has been instrumental in encouraging the growth of the card connector market across the globe. Card connectors can deliver great durability, technological capability, and longevity. These attributes are likely to create new growth opportunities for the market.
On the contrary, concerns related to reliability and integrity in designs of card connectors are estimated to restrict the growth of the card connectors market in the foreseeable future.
Edge Connector Market has been segmented on the basis of type and application.
By type, the card connector market is segmented into SIM card, edge card, PC card, memory card, and others. Of these, the memory card segment is predicted to dominate the market, mainly due to the benefits it offers like cost-effectiveness, portability, storage capacity, and reduced phone memory consumption. The growing smartphone ownership across major regions are stimulating the market growth in this segment.
By application, the card connector market is segmented into electronic appliances, consumer durables, electrical equipment, mechanical appliances, and others. Of these, the consumer durables segment is likely to dominate the market as it can be reused again and again. The increasing use of mobile and digital payments for secure payment is also assisting in the market’s growth in the segment.
Geographically, the card connector market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, North America is predicted to command the largest market share, mainly due to the soaring investments on card connectors, low operational costs, and high adoption of card connector solutions by several domains. The growing consumer electronics market in the region due to the high proliferation of tablets and smartphones has a positive impact on the market growth.
The Asia Pacific is considered to emerge as a prominent region majorly due to the existence of a large number of electronic manufacturers and soaring adoption of card connectors by the electrical equipment sectors. Moreover, the increasing demand for high-end technology is likely to contribute to the market growth in the APAC.
The players operating in the global card connector market include Molex Incorporated (U.S.), TE Connectivity Ltd (Switzerland), Amphenol Corporation (U.S.), The 3M Company (U.S.), Vishay Intertechnology, Inc. (U.S.), Cinch Connectivity Solutions (U.S.), Yamaichi Electronics Co., Ltd. (Japan), HARTING Technology Group (Germany), AVX Corporation (U.S.), Hirose Electric Co., Ltd. (Japan), Kycon, Inc. (U.S.), CW Industries(U.S.), CW Industries (U.S.) and Eaton Corporation Plc (Republic of Ireland).
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