BACKPLANE CONNECTORS MARKET REPORT OVERVIEW
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global backplane connector market size was USD 1940.22 million in 2021 and is projected to touch USD 3694.5 million by 2031 at CAGR 6.65% during the forecast period.
The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
An electronic device's connector backplane is a printed circuit board (PCB) to which multiple daughter cards or modules are connected. The different spaces for daughter cards in the device are often supported mechanically and electrically by a backplane. Applications in computing, telecommunication, and industrial electronics frequently use connector backplanes.
Several factors, including the rising need for high-density interconnects in data centers, the increasing demand for miniaturization in consumer electronics, and the rising adoption of cutting-edge innovations in armed services & aerospace applications, are contributing to the expansion of the worldwide connector backplane industry. Additionally, it is projected that industry participants active in the worldwide connector backplane market will benefit significantly from the development of the Internet of Things (IoT).
COVID-19 Impact: Closing of Manufacturing Units and Shortage of Labor Lead to Decrease in Demand for Connectors
Worldwide, the COVID-19 epidemic had significantly disrupted both rich and developing economies. The industrial growth was hampered in the medium term by the slowing global economy along with reduced GDP of largest markets during the first half of FY2020 owing to the pandemic. The deployment of these units were hampered by the closure of manufacturing facilities and a labor shortage. Despite the slump in the economy, things had a turn around by the final quarter of FY2020, when the lockdown was lifted and manufacturing operations resumed. Thus these factors lead to the loss of demand and sales of the backplane connectors during the pandemic.
Latest Trends
"Introduction of FutureBus to Provide Essential Characteristics and Achieve Ribbon Interconnect Density "
To provide the essential characteristics and the connector density of ribbon fiber, IIT Cannon has created a PHD backplane connectors that is FutureBus compliant. With a single channel serviceability, much reduced insertion loss, greater return loss, and all of the maintainability attributes found in simplex interconnects, IIT's proprietary PHD product design achieves ribbon interconnect density.
BACKPLANE CONNECTORS MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into >10 Gbps, 10~20 Gbps and <20 Gbps
- By Application Analysis
Based on application, the market can be divided into Telecom/Datacom, Industrial/Instrumentation/Medical, Computers and Peripherals, Automotive and Aerospace/Defense
Driving Factors
"Demand for Lightweight and Compact Devices is Anticipated to Fuel the Growth of the Sector"
The demand for surface mounting devices and other connectors that can be manufactured more compactly is anticipated to fuel the backplane connector market growth globally. Devices and products that can be made smaller so that more functions can be packed into smaller containers, which streamlines systems. Demand for these connectors is anticipated to be driven by the usage of lightweight, high-performance materials to increase automotive fuel efficiency throughout the forecast period.
"Growing Utilization in Data Centers is Promoting the Demand for the Connectors Market "
Organizations store their crucial data and applications in a data center, which is a crucial facility. A network of multiple computers and other information-sharing resources make up a data center in its basic form. On account of the rise of numerous social media sites, cloud computing, high-end gaming, HD streaming video, and 5G technologies, more data centers have been seen around the world in recent years. The above-mentioned apps create a significant amount of data traffic, which is why data centers are currently undergoing continuous technological upgrades. In data centers that use high-speed data transfer and computing, backplane connectors provide reliable connectivity for storage.
Restraining Factors
"High Costs Associated with the Connectors is Hinder the Expansion of the Industry"
Despite the fact that the connectors are well known for their many benefits, they also have a number of drawbacks. The expenses related to using these backplanes raise problems with these connectors. The market's ability to expand to its full potential is being hampered by the high rates of maintenance, repairs after installation, and total cost of these connectors. Additionally, throughout the anticipated period, the growth of the worldwide backplane connectors industry would be hampered by issues with technical design and low weld strength.
BACKPLANE CONNECTORS MARKET REGIONAL INSIGHTS
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"Presence of Several Manufacturers and Investments on Cutting-edge Technology is Promoting the Asia Pacific Regional Market"
Several backplane manufacturers operate in the area, and they are continually spending in the production of cutting-edge products utilized in a variety of applications. This will likely cause Asia Pacific to dominate the worldwide backplane connector market share all through the projection period. The majority of the region's markets are dominated by nations such as Japan, China, India and South Korea. The business for backplane in Asia Pacific is also anticipated to increase throughout the course of the forecast period as a result of the rising involvement of players in the consumer electronics industry and the continuously expanding automotive industry in the area, particularly in China.
Following the Asia Pacific region the North American region held second position in the backplane’s regional market. During the projected period, North America's backplane connectors industry is anticipated to grow significantly. The market in these areas is being driven by a rise in industrial automation worldwide.
Key Industry Players
"Key Players Focus on Mergers and Acquisitions to Gain a Competitive Advantage in the Industry"
The existence of a sizable number of backplane producers is regarded as indicative of the market. The industry is dominated by well-known worldwide vendors, who focus more and more on M&A to gain market dominance and diversify their product offerings. Several smaller businesses that specialize in particular items or areas make up the market as well. These connector makers focus on integrating cutting-edge technology for specific applications and also provide items at affordable costs, offering a significant threat to the worldwide suppliers. In the upcoming years, there will be more competition among market participants as suppliers place a greater emphasis on increasing their product ranges through M&A strategies.
List of Market Players Profiled
- Molex (U.S.)
- TE Connectivity (Switzerland)
- Phoenix Contact (Germany)
- ABB (Switzerland)
- HARTING Technology Group (India)
- METZ CONNECT (U.S.)
- RS Components (U.K.)
- 3M (U.S.)
- Amphenol (U.S.)
- Samtec (U.S.)
- Rosenberger (Germany)
- Hon Hai Precision Industry Company Ltd. (Taiwan)
- Hirose Electric (Japan)
- JAE (Japan)
Report Coverage
This report covers the backplane connectors market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1940.22 Million in 2021 |
Market Size Value By |
US$ 3694.5 Million by 2031 |
Growth Rate |
CAGR of 6.65% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global backplane connectors market expected to touch by 2031?
The global backplane connectors market is expected to touch USD 3694.5 million by 2031.
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What CAGR is the backplane connectors market expected to exhibit by 2031?
The backplane connectors market is expected to exhibit a CAGR of 6.65% by 2031.
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Which are the driving factors of the backplane connectors market?
backplane connectors is Becoming More and More Popular Among Enterprises are the driving factor of the backplane connectors market.
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Which are the top companies operating in the backplane connectors market?
Molex, TE Connectivity, Phoenix Contact, ABB, HARTING Technology Group, METZ CONNECT, RS Components, 3M, Amphenol, Samtec, Rosenberger, Hon Hai Precision Industry Company Ltd., Hirose Electric, JAE