Zion Market Research Global Wire-to-Board Connector Market, 2016–2024 | Page 3

Wire-to-Board Connector Market
Global Wire-to-Board Connector Market by Growth Factors: The proliferation of low-cost
communication technologies gives momentum to the global wire-to-board connector market growth
in the near future. The emergence of IoT technology is anticipated to fuel the global market growth in
the future. Some of the major factors of the global market are high-end computing servers, connected
consumer devices, and elevated applications of various communication technologies. Increasing
demand for the high-bandwidth and high-speed connectivity is the crucial factor fuelling the growth
of the market. In addition, the emergence of secure data transmission and sophistication of connected
home appliances may drive the global wire-to-board connector market growth in the near future.
Miniaturization of devices and growing demand for compact wire-to-board connectors in the
automotive industry may open up new growth opportunities across the world. Moreover, application
of the HVAC system technology in the residential buildings for washing machines, air conditioners,
refrigerator, stoves, and heaters has created a major for wire-to-board connectors globally.
Furthermore, growth in the power consumption due to large-scale digitization globally may propel
the demand for energy-efficient connectors. Affordable prices of power banks drive the demand for
smartphone and tablet, which in turn may positively enhance the global market in the future.
However, the advent of wireless communication technologies and poor quality of power bank may
restrain the growth of the global wire-to-board connector market to some extent.
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