During 2024, the scale of China's connector assembly market will continue to expand. This growth is mainly due to the increasing demand from global information technology, automotive electronics, communication equipment and other industries. Especially with the development of emerging technology fields such as artificial intelligence and the Internet of Things, the demand for connector components, as key components for data transmission and signal processing between devices, has increased significantly.
In the field of automotive electronics, with the rapid development of new energy vehicles and autonomous driving technology, the demand for high-performance connectors has surged as vehicle electrification and intelligence increase. Specific data shows that the market for connector components used in power systems and infotainment systems of new energy vehicles will grow by 16% in 2023, and this growth rate is expected to reach 22% by 2024.
In the field of medical electronics, as the application of telemedicine and smart medical equipment increases, the demand for precision connector components with high stability and low interference continues to rise. Data shows that the growth rate of the relevant market in 2023 is 15%, and it is expected to reach 20% growth in 2024.
Future predictions
According to the analysis of market research institutions, in the next five years, the compound annual growth rate (CAGR) of China's connector component market will reach approximately 12% to 14%. Among them, driven by emerging technologies such as artificial intelligence and the Internet of Things, the demand for connector components related to high-speed data transmission and big data processing is expected to grow significantly; in the field of automotive electronics, with the development of new energy vehicles and autonomous driving technology , the demand for high-performance connectors will continue to expand.
