The global structured cabling market size is projected to reach USD 14.3 billion by 2025
The global structured cabling market size is projected to reach USD 14.3 billion by 2025
LONDON, May 29, 2018 /PRNewswire/ -- Structured Cabling Market Size, Share & Trends Analysis Report By Product Type (Copper Cables, Fiber Optic Cables), By Application (LAN, Data Center), By Vertical, By Region, And Segment Forecasts, 2018 - 2025
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The global structured cabling market size is projected to reach USD 14.3 billion by 2025, according to a study conducted by Grand View Research, Inc., recording a 7.6% CAGR during the forecast period. Need for advanced technologies has increased the generation of vast amounts of IoT data, which often causes delays and latency. Structured cabling systems help enhance data transfer speed, which further aids in avoiding delays.
Presence of a high connectivity network in regions such as North America has facilitated widespread adoption of structured cabling systems.Thus, the North American regional market is expected to witness substantial growth over the forecast period.
Additionally, an expanding communication network architecture and rise in demand for data centers have increased demand for structured cabling systems.
Structured cabling systems are used across various verticals such as government, industrial, IT and telecommunications, residential, and commercial.The IT and telecommunications segment is expected to exhibit the highest CAGR owing to data center convergence in technologies supporting data and voice services.
Increase in usage of mobile Internet with high-speed connectivity is also expected to drive market growth.
Further key findings from the study suggest:
-- The global structured cabling market is projected to expand at a CAGR of 7.6% over the forecast period
-- The fiber optic cables segment is estimated to reach around USD 4.2 billion over the forecast period owing to increasing importance of cloud computing and high bandwidth applications
-- The data center segment is expected to register a CAGR of around 8.0% over the forecast period owing to increasing demand for smart devices and rising usage of mobile data
-- Based on vertical, the IT and telecommunication segment dominated the structured cabling market in 2016 and this trend is expected to continue over the forecast period
-- Currently, the North American region is leading the market and the trend is expected to continue over the coming years, owing to rise in demand for data centers and growth of communication network infrastructure
-- Prominent players in the structured cabling market include ABB; Belden Inc.; CommScope Holding Company, Inc.; Corning Incorporated; Furukawa Electric Co., Ltd.; Legrand SA; Nexans; Schneider Electric; and Siemon.
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