DUBLIN--(BUSINESS WIRE )--The "Automotive Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automotive connectors market reached a value of US$ 12.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 16.7 Billion by 2027, exhibiting a CAGR of 5.94% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Automotive connectors are electrochemical elements that are used for attaching multiple electrical circuits. They join electric terminals to form a complete circuit and ensure effective communication and navigation between the electronics and safety devices of the automobile. They consist of jacks or sockets (female-ended) and plugs (male-ended) that are placed under the hood of the vehicle. Advanced safety and security features such as anti-theft alarms, adaptive cruise control, keyless entry and auto emergency braking systems are integrated with electrical components using these connectors.
The increasing incorporation of advanced security features in the automobiles and the rising demand for electric vehicles (EVs) are the key factors driving the growth of the market. Furthermore, the growing sophistication of automotive sensors and infotainment systems has augmented the demand for automotive wiring harnesses and connectors across the globe.
Automobile manufacturers are replacing copper cables with plastic optical fiber (POF) to improve data transmission and design flexibility, along with reducing the overall vehicle weight. The effective functioning of POF requires automotive connectors. Additionally, advanced automotive systems utilize memory and data storage connectors for supporting Wi-Fi networks in automated vehicles. This, coupled with the increasing adoption of hybrid vehicles, is further contributing to the market growth.
Moreover, various product innovations such as adaptive front lighting, cruise control, park assistance and departure warning systems, along with the incorporation of machine learning in self-driving vehicles are expected to drive the market in the coming years.
The publisher provides an analysis of the key trends in each sub-segment of the global automotive connectors market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on connection type, connector type, system type, vehicle type and application.
6 Market Breakup by Connection Type
7 Market Breakup by Connector Type
8 Market Breakup by System Type
9 Market Breakup by Vehicle Type
For more information about this report visit https://www.researchandmarkets.com/r/pujz7s
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900