LEWES, DE – The global printed circuit board connectors market is expected to grow at a CAGR of 3% during the period from 2017 to 2021, says Market Research Reports.
A major driver for this market is miniaturization of electronic devices, says the research firm. The increased focus on R&D and technological advances has spurred the demand for reliable and compact electronic devices, leading to growing demand for miniaturized and reliable PCB connectors.
A major factor hindering the growth of this market is increase in wage rate and competition, says the firm. Rising wage rates and the increase in the manufacturing cost of connectors affect the financials of connector manufacturers adversely, leading to lower profit margins, which, in turn, results in low investment in R&D. There is also growing competition in the components market.