DUBLIN–(BUSINESS WIRE)–The “Europe High Speed Connector Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Product and Application” report has been added to ResearchAndMarkets.com’s offering.
According to this report the European high speed connector market is expected to reach US$ 910.30 million by 2027 from US$ 543.47 million in 2019.
The market is estimated to grow at a CAGR of 6.8 % from 2020 to 2027. The report provides trends prevailing in the Europe high speed connector market along with the drivers and restraints pertaining to the market growth. Rising electronics and infotainment systems in automotive sector and growth in networking and communication sector are the major factor driving the growth of the Europe high speed connector market. However, costly and technical challenges hinder the growth of Europe high speed connector market.
In case of COVID-19, Europe is highly affected specially the UK and Russia. The European electronic component manufacturers are also experiencing tough times to supply their products in adequate quantities to respective customers. This is majorly due to the significant disruption in raw material supply chain business. The electronic components or high speed connector manufacturers are witnessing two or more weeks of delay in receiving raw materials, which is pressurizing the manufacturers to slow down the production pace, which is showcasing the declination trend in revenue generation. The UK and France have numerous electronic component manufacturers, while the Russia has significantly large number of equipment manufacturing sectors ranging from communication equipment manufacturers, aerospace & defense contractors, and automotive OEMs. The emergence of COVID-19 virus has negatively impacted the businesses of European equipment manufacturers as well as high speed connector market. Additionally, the UK, France, Germany, and Italy have been observing the second wave of COVID-19 over the past couple of weeks, which has again compelled the manufacturers to restrict their production unit workforce, resulting in deceleration in high speed connector demand.
The Europe high speed connector market is segmented based on product, application, and country. Based on product, the market is segmented into board-to-cable, board-to-board, and others. The board-to-board segment held the largest market share in 2019 and board-to-cable segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into communication, automotive, aerospace & defense, energy & power, electronics, and others. The aerospace & defense sector held the largest market share in 2019 and automotive sector is expected to be fastest growing during forecast period.
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Drivers
Growth in Networking and Communication Sector Rising Electronics and Infotainment Systems in Automotive Sector Restraints
Costly and Technical Challenges Opportunities
Increasing Developments in Network Services Future Trends
Flexible, High-Speed, water-resistant, Small Size Connector Companies Mentioned
Fujitsu Limited Hirose Electric Co., Ltd. IMS Connector Systems GmbH Molex, LLC OMRON Corporation SAMTEC, Inc. TE Connectivity Ltd. Yamaichi Electronics Co., Ltd. For more information about this report visit https://www.researchandmarkets.com/r/rywudu