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Card Connector Market Trends

ID: MRFR//2702-HCR | 100 Pages | Author: Aarti Dhapte| July 2024

Global Card Connector Market Overview:

Card Connector Market Size was valued at USD 1.17 Billion in 2023. The Card Connector market industry is projected to grow from USD 1.24 Billion in 2024 to USD 1.93 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.62% during the forecast period (2024 - 2032). The increase of edge card connectors in the gaming sector and the presence of highly advanced technology are the key market drivers enhancing market growth.

Card Connector Market

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Card Connector Market Trends

  • The growing adoption of compact card connectors is driving the market growth.

The rising adoption of compact card connectors drives Market CAGR for card connectors. The miniaturization of electronic devices, such as smartphones, tablets, and wearables, has fueled the need for smaller, more space-efficient card connectors. Consumers today expect sleek, lightweight, and portable devices, which drives the demand for compact connectors. 

Manufacturers are responding to this trend by developing innovative solutions, such as embedded card connectors and low-profile connectors. Embedded card connectors are integrated into the device's circuit board, reducing the overall footprint and enhancing durability. On the other hand, low-profile connectors have a reduced height and allow for slimmer device designs. These advancements in connector design cater to the demand for smaller and more aesthetically appealing electronic devices.

With the new advancement of technology, there is an increasing need for faster data transfer rates in electronic devices. This requirement is particularly evident in applications like high-resolution video streaming, augmented reality (AR), and virtual reality (VR). To meet the demands, the card connector market is witnessing a transition towards connectors capable of supporting higher data transfer rates. Traditionally, card connectors supported data rates of up to a few gigabits per second (Gbps). However, emerging standards like USB 3.2 and PCIe 4.0 push the boundaries by enabling data rates of up to 10 Gbps and 16 Gbps, respectively. Manufacturers contribute to research and development to design connectors that effectively handle these higher data transfer rates. This trend is crucial for enabling seamless data-intensive applications and enhancing user experiences across various industries.

Security is critical in the card connector market, especially in finance, healthcare, and government industries. Manufacturers emphasize integrating enhanced security features into card connectors to combat the rising threats of data breaches and unauthorized access. One significant security trend is the adoption of contactless card connectors. Contactless connectors use near-field communication (NFC) technology to establish a secure wireless connection between the card and the device. This technology discards the need for physical contact, reducing wear and tear on connectors and providing users with an added convenience layer.

The Card Connector Market is witnessing several significant landscape trends. The increasing demand for compact connectors, driven by the miniaturization of electronic devices, highlights the importance of space-efficient designs. The transition to higher data transfer rates addresses the need for faster and more data-intensive applications. Lastly, the focus on enhanced security features ensures the protection of sensitive data and mitigates the risks associated with unauthorized access. As technology advances, we can expect further innovation in connector design, data transfer capabilities, and security features, leading to a more interconnected and secure future, driving the Card Connector market revenue.

Card Connector Market Segment Insights:

Card Connector Type Insights

The Card Connector Market segmentation, based on type, includes edge cards, memory cards, and PC cards. The memory cards segment dominated the market. These connectors enable the insertion and removal of memory cards, facilitating data transfer and storage. With the growing demand for higher storage capacities, the memory card connector market is expected to grow substantially.

Card Connector Application Insights

The Card Connector Market segmentation, based on application, includes consumer durables, electronic appliances, and mechanical appliances. The electronic appliances category generated the most income. These appliances rely on card connectors for memory expansion, data transfer, and firmware updates. For instance, digital cameras and camcorders use memory card connectors to store photos and videos, while printers may use card connectors for firmware updates and configuration. In this segment, card connectors should provide a secure and stable connection to ensure data integrity and smooth operation.

Figure 1: Card Connector Market, by Application, 2022 & 2032 (USD Billion)

Card Connector Market, by Application, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Card Connector Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Card Connector market area will dominate this market due to the presence of major technology companies and a high adoption rate of electronic devices. The widespread use of smartphones, tablets, and gaming consoles drives the demand for card connectors. Additionally, the increasing adoption of contactless payment systems and the growing trend of IoT devices contribute to market growth. The United States and Canada are essential contributors to the card connector market in this region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Card Connector Market SHARE BY REGION 2022 (USD Billion)

Card Connector Market SHARE BY REGION 2022

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe Card Connector market accounts for the second-largest market share due to the strong manufacturing base and technological advancements. The rise in penetration of smartphones and smart wearables fuels the demand for card connectors. The automotive sector also plays a vital role in the European market, as card connectors are extensively used in-vehicle infotainment systems, navigation devices, and other electronics within automobiles. Further, the German Card Connector market held the largest market share, and the UK Card Connector market was the rapid-growing market in the European region.

The Asia-Pacific Card Connector Market is expected to grow fastest from 2023 to 2032. It is due to rapid industrialization, urbanization, and a large consumer base. The increasing adoption of smartphones, rising disposable income, and the growing middle-class population are key factors driving market growth in this region. Furthermore, expanding e-commerce and the digital payments industry further augment the demand for card connectors. Moreover, China’s Card Connector market held the largest market share, and the Indian Card Connector market was the rapid-growing market in the Asia-Pacific region.

Card Connector Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Card Connector market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Card Connector industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Card Connector industry to benefit clients and increase the market sector. In recent years, the Card Connector industry has offered some of the most significant advantages to medicine. Major players in the Card Connector market, including TE Connectivity Ltd. (Switzerland), Cinch Connectivity Solutions (US), Vishay Inter Technology, Inc. (US), HARTING Technology Group (Germany), Ymaichi Electronics Co., Ltd. (Japan), Amphenol Corporation (US), Kycon, Inc. (US), Eaton Corporation Plc (Republic of Ireland), CW Industries (US), Hirose Electric Co., Ltd. (Japan), AVX Corporation (US), CW Industries (US), Molex Incorporated (US), The 3M Company (US), and others, are attempting to raise market demand by investing in research and development operations.

TE Connectivity Limited, founded in 2007, located in Schaffhausen, Switzerland and Berwyn, Pennsylvania, United States, is an American Swiss global technology company that designs and manufactures connectors & sensors such as automotive, industrial equipment, data communication systems, defense, medical, consumer electronics, oil & gas, energy, and aerospace. Its products include electronic components, networking, connector systems, etc. In May 2019, TE Connectivity (TE) launched its new Sliver card edge connectors have been adopted as the standard connector design into the SNIA (Storage Networking Industry Association) Small Form Factor Technology Work Group's SFF-TA-1002 specification and are the highest-performing card edge connectors in the standard.

Mastercard Incorporated, popularly known as Mastercard, was founded in 1966 in Purchase, New York, United States of America, and is the second largest American payment processing company worldwide. It provides a variety of financial services. Its business is to provide payments between the merchants of banks and the card issuing banks who use the Mastercard brand debit, credit, and prepaid cards to make purchases. In June 2020, Mastercard launched its Mastercard Connect platform to enable merchants to accept payments from customers in more than 200 countries.

Key Companies in the Card Connector market include

  • TE Connectivity Ltd. (Switzerland)

  • Cinch Connectivity Solutions (US)

  • Vishay Inter Technology, Inc. (US)

  • HARTING Technology Group (Germany)

  • Ymaichi Electronics Co., Ltd. (Japan)

  • Amphenol Corporation (US)

  • Kycon, Inc. (US)

  • Eaton Corporation Plc (Republic of Ireland)

  • CW Industries (US)

  • Hirose Electric Co., Ltd. (Japan)

  • AVX Corporation (US)

  • CW Industries (US)

  • Molex Incorporated (US)

  • The 3M Company (US)

Card Connector Industry Developments

July 2020: Visa launched its Visa Direct platform to provide real-time payments for consumers and businesses.

August 2020: American Express launched its Express Checkout platform to enable merchants to accept customer payments in more than 200 countries.

August 2020: American Express and Apple announced a partnership to enable Apple Card users to use their cards at more than 10 million merchants worldwide.

Card Connector Market Segmentation:

Card Connector Type Outlook

  • Edge Card

  • Memory Card

  • PC Card

Card Connector Application Outlook

  • Consumer Durables

  • Electronic Appliances

  • Mechanical Appliances

Card Connector Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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