According to a new report by Grand View Research, Inc., the global automotive connector market size is anticipated to reach $28.25 billion by 2025 at a CAGR of 7.4% during the forecast period. Increasing demand for connectivity, convenience, and safety features in vehicles is anticipated to boost market growth. Moreover, growing demand for plug-in hybrid as well as electric vehicles is expected to stimulate market growth over the forecast period.
By product, the “other” connectors segment emerged as dominant in the automotive connector market with an estimated share of over 74.0% in 2017. The segment includes a wide variety of connector products such as heavy-duty, terminal blocks, power/high voltage, and application-specific connectors. Rising vehicle electrification owing to stringent emission norms has led to higher penetration of electronic content per vehicle. The automotive industry is undergoing a transition phase with the introduction of driverless cars. Development of autonomous vehicles has boosted research and development initiatives. Furthermore, growing demand for vehicular communication is expected to proliferate the market.