Telecommunication Sector Likely to Propel Demand for FORJ Contactless Couplers, Evaluates Fact.MR
Published : 22 Feb 2022 Industry: Industrial Goods
According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global contactless coupler market is expected to reach a market valuation of US$ 803 Mn by the end of 2032, expanding at a CAGR of 5.4%.
Utilization of contactless couplers in the telecommunication industry for data transmission activities is expected to play a major role in market development across the globe. This is due to the availability of compact design contactless couplers with highly conductive material coating for better data transfer applications.
The trend of wireless rotating devices is likely to intensify the utilization of contactless couplers due to their fast data transmission application. This factor is predicted to increase the utilization of contactless couplers in digital and automated components.
Data transmission is estimated to account for more than 57% of global revenue market share in 2022 and anticipated to increase at a CAGR of 5.5% with a gain of 30 BPS points over the decade. Demand for power transmission contactless couplers is experiencing a surge due to the growing penetration of wind turbines coupled with soaring power requirements. Companies are focused on hybrid contactless couplers, which might change the market cluster over the coming years.
Key Takeaways from Market Study
- Global demand for contactless couplers is poised to expand at a CAGR of 5.4% through 2032.
- On the basis of product type, the market is dominated by FORJ contactless couplers, which are estimated to account for 51.2% of the market share by 2032.
- North America has driven demand for contactless couplers, and the scenario is projected to continue during the forecast period, creating an absolute $ opportunity worth US$ 100.8 Mn.
- Demand for FORJ contactless couplers and inductive couplers is projected to grow 1.7X and 1.6X, respectively, during the forecast period.
- Data transmission and power transmissions are projected to grow 1.7X and 1.5X by 2032.
- The telecommunications end-use industry is expected to register a CAGR of 5.7% over the forecast period.
- The OEM sales channel is estimated to account for approximately 72% market revenue share in 2022.
“Increasing application of contactless couplers in telecommunication likely to create ample opportunities for market players during the assessment period,” says a Fact.MR analyst
Reduction in price while maintaining same quality and product attributes is the need of the hour, which can be attained by collaboration with regional players as well as suppliers. Regional suppliers will aid in the procurement of raw materials at comparatively low costs, whereas, market players will widen their distribution networks.
Market players are channelizing their resources towards product development and diversification of portfolio on the basis of vivid end-use verticals in order to capture a significant share of the market. Constructive partnerships with suppliers to streamline the supply of components is a widely adapted strategy by market participants.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global contactless coupler market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product type (FORJ (single-channel and multi-channel), inductive couplers, capacitive couplers, and others), by use case (data transmission (less than 1 Gbps, 1-3 Gbps, 3-5 Gbps, and above 5 Gbps), power transmission (up to 300 W, 300-500 W, and above 500 W) and hybrid), by end-use industry (telecommunications, energy & utility, electrical & electronics, healthcare & medical devices, industrial automation, aerospace & defense, marine, automotive, and others), and by sales channel (OEMs and aftermarket), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the prominent end use industries across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial