Vietnam Connectors Market size is projected to grow at a CAGR of 7.4 during 2023-2029

PCB Connectors on the basis of product types registered the highest revenue share in the Vietnam Connectors Market – 6Wresearch

By product types, PCB connectors held the largest revenue share in 2022 and they are still holding the significant share in the market owing to the growth in telecommunication, automotive, and consumer electronics industries. Additionally, it is expected that by 2025, there will be 10 undersea Internet fiber optic cables, which would boost the growth of fiber optics connectors.

According to 6Wresearch, Vietnam Connectors Market size is projected to grow at a CAGR of 7.4 during 2023–2029. The government's National Digital Transformation Program 2030 aims to promote the adoption of digital technologies and infrastructure across the country, which would increase the deployment of advanced communication networks, such as 5G networks leading to the demand for connectors to support high-speed data transfer and complex connections. Owing to growing data center market which is projected to grow more with an increase in data center infrastructure projects, would contribute to demand for connectors. In the coming years. The market is constantly evolving and is projected to rise more. The growing use of wireless technology and the environmental impact on the decomposition or recyclability of connectors would restrain the market growth of connectors in Vietnam in the coming years.

According to Ravi Bhandari, Research Head, 6Wresearch, transportation in terms of applications garnered the major revenue share in the Vietnam connectors market owing to the adoption of electric vehicles along with rising investment from foreign and local companies in EV charging infrastructure. The telecom segment is also anticipated to register the highest growth in the near future owing to the increasing adoption of digital technologies along with the growing demand for high-speed data transmission, and the expansion of 5G networks in Vietnam. Additionally, in 2022, 8% of the population had access to 5G which is expected to increase to 25% in 2025, which would create the demand for connectors in the coming years.

The Vietnam Connectors Market (2023-2029) report provides an in-depth analysis with 12 figures and 4 tables, covered in 63 pages. The report comprehensively covers the market by product types and applications. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.