EV connector market is projected to grow from USD 2.0 billion in 2023 to USD 10.9 billion by 2030, registering a CAGR of 27.1%, according to a new report by MarketsandMarkets. EV connectors for high-voltage systems and need of miniaturization, weight reduction, and high-performance materials, and a surge in data transmission and complex systems for ADAS, battery management, vehicle lighting and autonomous driving, demanding high-bandwidth and low-latency EV connectors. Electric vehicles (EVs) are rapidly using advanced driver-assistance systems (ADAS) and autonomous driving technologies, which require connectors to handle the massive data flow. This gives connector manufacturers even more chances to advance technologically and meet the constantly changing demands of the electric revolution.
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Browse in-depth TOC on “EV Connector Market“.
275 – Tables66 – Figures 289 – Pages
EV Connector Market Scope:
USD 10.9 billion by 2030
CAGR of 27.1%
Drivers, Restraints, Opportunities & Challenges
Value (USD billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By System Type (Sealed, Unsealed), Application (ADAS and Safety, Battery Management System, Body Control and Interiors), Propulsion (BEV, PHEV, FCEV), Voltage, Connection Type, Component and Region – Global Forecast to 2030
Asia Pacific, Europe, and North America
Updated financial information / product portfolio of players
Key Market Opportunities
Growing incorporation of Electrical/Electronic (E/E) architecture
Key Market Drivers
Advancements in infotainment systems and in-vehicle connectivity
“Engine management and powertrain application is expected to show a significant growth rate during the forecast period.”
The engine management and power train segment is projected to register a CAGR of 24.3% during the forecast period. The engine management system in a PHEV is responsible for controlling the operation of the engine, including the ignition, fuel injection, and emissions control systems. The engine management system also coordinates the engine’s operation with the electric motor and battery to provide optimal performance and efficiency. The powertrain in a PHEV typically consists of an internal combustion engine (ICE), an electric motor, and a battery. The ICE and electric motor are connected to the transmission, which drives the wheels. A PHEV’s engine management system and powertrain are designed to work together to provide optimal performance and efficiency. High-voltage battery connectors transmit high-voltage DC power from the battery pack to the electric motor and other high-voltage components. Fuel injector and spark plug Connectors deliver fuel and ignition signals to the engine cylinders, ensuring proper combustion. ECU connectors transmit data from various engine sensors to the ECU, allowing it to monitor and control engine performance. Power Control Unit (PCU) connectors transmit data from the electric motor and battery to the PCU, allowing it to manage the electric powertrain system.
“Board – to – Board connection system to hold largest market share during the forecast period.”
Board-to-board connectors play a critical role in high-end applications within electric vehicles (EVs), contributing to advanced electronic systems’ overall performance, reliability, and functionality. In high-end EV applications, these connectors are essential for high-speed data transmission, battery management systems for high-capacity batteries, complex sensor networks for autonomous driving, high-resolution displays, infotainment systems and others. Board-to-board connectors dominate within electronic modules due to their compact size and ease of integration. The trend is towards miniaturization and increased integration, which could lead to higher adoption of board-to-board connectors in near future. Also, the inclination of users toward high-tech applications OEMs are offering advanced applications such as human machine interface (HMI), airbag control, adaptive cruise control, and auto-park assist, which creates the demand for connectors to be used in new automotive systems. OEMs such as BMW (Germany), Audi (Germany), Mercedes-Benz (Germany), and Volkswagen AG (Germany) offer this high-end application in their vehicle models such as BMW iX, Audi e-tron GT, Mercedes-Benz EQC and Volkswagen ID.4 among others. All such high-end application requires to be connected by board – to – board connection. Thus, growing demand for high-end applications is estimated to drive the EV connector industry. With the changing demands of passengers and OEMs, new and advanced applications are expected to penetrate the market.
“North America will be the prominent growing market for EV connectors during the forecast period.”
North America is a regional hub for many renowned OEMs delivering quality, high-performance vehicles. In North America, OEMs like Tesla and GM focus on developing cleaner, faster, and high-performance electric vehicles. Nissan, BMW, Volkswagen, and Daimler are the leading OEMs in the US that have launched electric vehicles in the region. The top-selling electric vehicles in the US are Chevy Volt, Tesla Model S, Nissan Leaf, and Ford Fusion Energy PHEV. Along with OEMS, EV connector manufacturers such as TE Connectivity (Switzerland), Amphenol (US), Samtec (US), and Huber+Suhner (Switzerland), among others, are present in the Region. Various services offered by electric vehicle infrastructure providers have increased the adoption rate of electric vehicles in US. Tesla, Ford Motors, and General Motors have included some ADAS features as standard in their EVs. For instance, Tesla Model 3 & Model Y offer ADAS features such as adaptive cruise control, lane centering, and automatic lane changes. Additionally, in July 2022, Cadillac Lyriq a luxurious SUV by General Motors was launched with super cruise system, which allows hands-free driving on mapped highways. It also features a high-resolution, curved OLED display spanning the instrument cluster and infotainment system for an immersive driving experience. The EV connector market growth in North America is expected to be significant due to the rise in EV sales and connectivity-based applications, including autonomous driving, connected services, ADAS, high-end infotainment, and powertrain solutions. As technology becomes more widely available and affordable, more consumers in this region purchase vehicles with ADAS features. This has led to a rise in demand for these systems and an increase in the number of electric vehicles equipped with ADAS. Thus, the demand for EV connectors will also increase with the rising sales of EVs, increased adaptation of ADAS, high-end infotainment, and powertrain solutions.
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Key Market Players:
The major players in EV Connector Companies include TE Connectivity Ltd. (Switzerland), Aptiv PLC (Ireland), Yazaki Corporation (Japan), Molex LLC (US), and Sumitomo Electric Industries Ltd. (Japan).
In November 2023, Japan Aviation Electronics Industry, Ltd. released the MX81 Series, a non-waterproof compact connector for in-vehicle electronic devices such as ECUs, lighting, sensors, and other in-vehicle applications.
In September 2023, Yazaki Corporation (Yazaki) announced that Yazaki Egypt had purchased an area of 67,000 square meters in the Fayoum investment-free zone to expand the production of wire harnesses and electrical systems.
In August 2023, Sumitomo Electric Wiring Systems announced investing approximately USD 10.0 million in manufacturing harnesses, becoming the first tier 1 automotive company to establish operations in Tabasco, Mexico.
In April 2023, Hirose Electric Co., Ltd. and TraceParts partnered to release more than 10,000 ready-to-use 3D models for Hirose’s PCB mountable connectors.
In March 2023, KYOCERA AVX added new four- and five-position models to its 9176-700 Series of IDC connectors for 18–24AWG wire, designed to fulfill the demand requirements of automotive, transportation, industrial, lighting, and medical applications.
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IDTechEx Discusses New Trends: Radar Modules and ToF Cameras for In-Cabin Sensing
With the shift towards electric vehicles, end-users are becoming less concerned about traditional differentiators like engine horsepower and are placing greater emphasis on smart interior functions. This trend is compelling automotive OEMs to invest more efforts in enhancing interior features, thereby adding greater value to their products and distinguishing them from other vehicles.
Driven by regulations such as Euro NCAP, driver monitoring systems (DMS) have gained significant traction and have transitioned from a luxury feature to a new norm. As of 2024, most DMS utilize 2D near-infrared (NIR) cameras. Due to their relatively low costs, they are anticipated to be increasingly adopted, emerging as the dominant enabling technology for DMS. For automotive OEMs to further set themselves apart from competitors, advanced features such as gesture control, child presence detection, and seat belt detection are also expected to gain momentum, especially in mid to high-end vehicles. Currently, the 3D time-of-flight camera stands out as the most widely used technology for DMS, while some automotive OEMs, such as Volvo and Tesla, are incorporating in-cabin radar modules.
Radar has played an important role in advanced driver assistance systems (ADAS) for over two decades. Utilizing radio waves with a frequency-modulated continuous wave (FMCW) coding system, radars can accurately measure the distance and relative velocity of objects within their field of view. However, historically, radar modules have predominantly been employed for exterior sensing rather than interior applications.
As of 2023, according to Tesla’s website, the in-cabin radar operates within a frequency range of 60GHz to 64GHz, falling within the license-free ISM band. The detection distance of these radar modules typically ranges from 0.4 meters to 2 meters, effectively covering the interior space. Though unconfirmed officially by Tesla, recent news suggests that their cybertruck is equipped with in-cabin radar modules for occupant monitoring, including functions such as child presence detection and seat belt reminders.
Comparison of radar manufacturers and prices. It is worth noting that NXP’s radar operates at a higher frequency band, and IDTechEx believes that this frequency band is likely used for exterior monitoring instead of interior monitoring. Source: IDTechEx – “In-Cabin Sensing 2024-2034: Technologies, Opportunities and Markets”
Similar to radar modules, 3D Time-of-Flight (ToF) cameras also find application in occupant monitoring. 3D ToF cameras operate by utilizing near-infrared illuminators like LEDs or vertical cavity surface emitting lasers (VSCELS), in conjunction with image sensors. However, privacy concerns surround the use of cameras, even though some suppliers assert that they can address this issue by either blurring people’s faces or storing data solely onboard.
An additional limitation of 3D ToF cameras is that, unlike in-cabin radar modules, they are unable to detect people or objects through obstacles. Furthermore, due to their reliance on computer vision technology, cameras necessitate intricate algorithms and recalibration, introducing technical complexity to their implementation. Despite these drawbacks, some suppliers are actively working to address privacy concerns and improve the overall capabilities of 3D ToF cameras for occupant monitoring in automotive applications.
Benchmark of OMS Technologies. Source: IDTechEx – “In-Cabin Sensing 2024-2034: Technologies, Opportunities and Markets”
As of now, 3D ToF cameras are more well-adopted for OMS and have advanced features compared with radar modules. However, by comparing the costs and functions of radar modules and 3D ToF cameras, IDTechEx believes there are potential opportunities for radar modules. 3D ToF cameras are adopted in Li Auto L9, BMW iX, and the new ARCFOX αS series, whereas radar modules are expecting adoption in Tesla and Volvo.
Cost estimation of ToF Camera Package. Source: IDTechEx – “In-Cabin Sensing 2024-2034: Technologies, Opportunities and Markets”
Author: Yulin Wang, Senior Technology Analyst at IDTechEx
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Hawk AI welcomes new general manager Robin Lee
Hawk AI, a front-runner in AI-driven solutions for fraud and anti-money laundering (AML) surveillance, has recently announced the strategic appointment of Robin Lee as General Manager for the Asia-Pacific (APAC) region.
Tobias Schweiger, CEO of Hawk AI, expressed his enthusiasm about the new addition to their team. “I’m very pleased to welcome Robin Lee to Hawk AI. He brings deep expertise in regulatory compliance and outstanding knowledge of the anti-financial crime sector. He’s also an exceptional leader with an entrepreneurial spirit and infectious energy. We’re excited to have someone of his caliber onboard.”
Lee is also highly engaged in global financial crime fighting initiatives, currently serving as Vice-Chair for the APAC Chapter of the Global Coalition to Fight Financial Crime and as the Global FinTech Liaison for the US Department of Justice’s FinTech Sector Public Dialogue (FSPD), its public-private partnership focusing on FinTechs.
On joining Hawk AI, Lee shared his excitement, “I’m delighted to be joining Hawk AI. The Hawk AI platform is streets ahead of other vendors in the sector, with explainable AI that has been built-in from the ground up and an integrated approach to tackling financial crime that delivers truly extraordinary results for customers.
“I’ve also been deeply impressed by the Hawk AI team. They’re an exceptional group of people, combining world-class technologists and seasoned financial crime-fighters. I’m very proud to be part of their continued growth.”
Since its inception in 2018 by finance industry veterans, Hawk AI has shown remarkable growth. The company now plays a pivotal role in monitoring or screening billions of transactions worldwide. Its unique approach, leveraging explainable AI, has set new industry standards by significantly reducing false positives compared to traditional AML/Counter Financing of Terrorism (CFT) solutions.
Hawk AI’s modular solution offers financial institutions a powerful tool to either enhance or replace legacy systems with AI-powered transaction monitoring, payment screening, pKYC, and fraud prevention capabilities, ensuring greater accuracy and efficiency in real-time.
Source: Fintech Global
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Paris Saint-Germain begins Web3 drive as a new blockchain validator for Chiliz Chain
The French football club aims to explore various avenues in the cryptocurrency sector, starting with becoming an infrastructure provider to Chiliz Chain.
French football giant Paris Saint-Germain (PSG) is set to deepen its Web3 and SportFi involvement by becoming a validator for fan token blockchain Chiliz.
Cointelegraph recently traveled to Paris to speak exclusively to Chiliz founder Alexandre Dreyfus and PSG head of Web3 Pär Helgosson about the evolving partnership between the football club and the blockchain platform.
PSG is the first major football club to become a blockchain protocol validator and is set to reinvest revenue generated as a validator to buy back PSG tokens. The move is touted as a way to create a self-sustaining digital economy for the club and its fan base.
The Chiliz Chain is the infrastructure underpinning Socios, the platform that issues and manages fan tokens for over 150 professional football clubs and sports teams. PSG was an early adopter of the technology and launched its fan token on Chiliz in September 2018.
The club intends to explore opportunities in the broader cryptocurrency, Web3 and SportFi spaces, with Helgosson spearheading the efforts.
Venture capital firm Animoca Brands joined Chiliz Chain as a validator of its proof-of-stake protocol in November 2023 after Chiliz revamped its tokenomics model. Chiliz introduced a new inflation-staking rewards mechanism for CHZ holders and the integration of the transaction fee protocol burning scheme EIP-1559.
PSG gets first shot at token buy-back mechanism
Helgosson told Cointelegraph that PSG will use its accrued revenue as a node validator to carry out PSG fan token buybacks from public marketplaces. The buybacks will be automated and executed by smart contracts through its validator and on decentralized exchanges on the Chiliz Chain.
The program aims to increase revenue from the club’s validator through gas fees and supply inflation that are reinvested into PSG tokens. The club is interested in refreshing its token reserves to create a self-sustaining economy:
“We’re aiming to build a sustainable tokenomics model together where the club, because of our role as a node validator, can use the profits to buy back fan tokens and use them to reinvest back into the fan ecosystem.”
Helgosson says the move is expected to provide rewards, new utilities, functions, products and services that will benefit PSG tokenholders, sponsors and players.
PSG and Chiliz are also planning a blockchain hackathon hosted at the club’s iconic Parc des Princes stadium in the summer. The event aims to attract developers to build decentralized applications and products incorporating PSG tokens on the Chiliz Chain.
An alternative for sports organizations
Dreyfus tells Cointelegraph that PSG’s move to become a validator could be a catalyst for other clubs to follow suit and better understand how the ecosystem’s tokenomics work.
“As for the drawcard, PSG is going to play an active role in the operations of the Chiliz ecosystem, meaning they will help build trust and attract more brands and developers, also by co-hosting hackathons with us at their stadium,” Dreyfus explained.
Chiliz and Socios have been focused on building products and experiences for the broader sports industry. Dreyfus believes that its protocol needs stakeholders from the space to participate in its governance and ongoing operation.
The Chiliz founder says his long-term goal is to have dozens to hundreds of validators comprised of sports organizations, fan-owned nodes and cryptocurrency firms. The hope is that PSG’s move will prompt other major clubs to consider becoming node operators.
“This is a new income source for them, diversification, but also being part of the network effect brings value to everybody involved.”
PSG’s Web3 play
Off-the-record conversations with Helgosson reveal that PSG is ambitiously exploring a multitude of ways to diversify revenues and offerings in the cryptocurrency and blockchain ecosystem.
The club’s investment in becoming an infrastructure operator of Chiliz blockchain marks the start of its moves to actively participate in the Web3 ecosystem. PSG has explored and launched several nonfungible token collections, some of which offer exclusive rewards to holders.
Helgosson would not disclose the details of its investment or capital allocation for the Chiliz node-as-a-service partnership but said the club intends to actively engage and reinvest with its Web3 partners.
He highlighted that being a node validator is a core component in building a sustainable tokenomics model for the Paris Saint-Germain Fan Token ecosystem and Chiliz.
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