Structured Cabling Market Revenue to Hit $9.6 Bn by 2030, Globally says P&S Intelligence
NEW YORK, March 15, 2021 /PRNewswire/ -- Around the world, the increasing usage of devices that can connect to the internet has given rise to the concept of the internet of things (IoT). IoT is being used to manage home and factory operations, reduce energy consumption, in healthcare, and even for agricultural purposes. As a result of the growing IoT sector, the global structured cabling market size is expected to increase from $7.4 billion in 2019 to $9.6 Billion by 2030, at a 3.9% CAGR during 2020–2030, according to the market research study published by P&S Intelligence.
Key Findings of Global Structured Cabling Market
- Rising bandwidth requirement key driver for market
- Fiber cables to witness fastest-growing demand among all products
- Telecommunications sector largest end user in market presently
- APAC to remain most-lucrative region for investors
- Structured cabling usage rising rapidly in data centers
- Market players launching new products
This is because connected devices gather data from their surroundings and on their own operations, which they then transmit to the concerned authority over the internet, for analysis and appropriate action. Thus, with more such devices connecting to the internet, the demand for bandwidth is rising. This is essentially driving the structured cabling market, as such a wiring architecture supports the faster transmission of higher volumes of data.
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The coronavirus pandemic has negatively impacted the structured cabling market because the factories manufacturing such products and the supply of raw materials, such as copper, have been halted. Moreover, construction activities have taken a hit, with most of the laborers going back home, which has led to a reduced demand for various components of the structured cabling network. In addition, companies have slashed their budgets for IT infrastructure upgrades, thereby further hurting the revenue streams for market players.
In the near future, the copper cable category will dominate the structured cabling market, based on product. Compared to fiber optic cables, copper cables are cost-effective. Moreover, with the growing deployment of factory automation solutions, copper cables will be used to transmit data as well.
Browse report with detailed COVID-19 impact analysis on "Structured Cabling Market Research Report: By Product (Copper Cable, Fiber Cable, Copper Components, Fiber Components), Wire Category (Category 6, Category 5e, Category 6A, Category 7), Application (LAN, Data Center), End Use (Telecommunication, Commercial, Government, Industrial) - Global Industry Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/structured-cabling-market
In the coming years, the higher CAGR in the application segment of the structured cabling market, of 7.5%, is expected to be witnessed in the data center bifurcation. The establishment of such facilities is picking pace due to the increasing usage of IoT, online gaming, audio–video streaming, and news websites; internet protocol (IP)-based conferencing, autonomous vehicles, and intelligent personal assistants. As the high-speed transmission of voluminous data is imperative for data centers, they exclusively use structured cabling.
Commercial will become the largest category in the structured cabling market by the end of this decade, under segmentation by end use. With the rising construction of office complexes and provision of Wi-Fi connectivity at public places, such as shopping malls and airports, the demand for structured cabling is rising.
Historically Asia-Pacific (APAC) generated the highest structured cabling market revenue, and it is predicted to continue on this path in the years to come. The requirement for such a wiring architecture is rising because of the increasing sales of smartphones and penetration of the internet, surging adoption of cloud computing, and digitization efforts being taken by the government of regional countries. Further, to offer people better connectivity, Japan, South Korea, and China are launching 4G and 5G services, which also require an advanced wiring structure.
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ABB Group, Corning Inc., Schneider Electric SE, CommScope Inc., Furukawa Electric Co. Ltd., Panduit Corp., Nexans S.A., Belden Inc., Siemon Company, TE Connectivity Ltd., and Legrand SA are the most-significant global structured cabling market players.
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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P&S Intelligence
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SOURCE P&S Intelligence
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