Report predicts solid and impressive growth for structured cabling market
June 6, 2017
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The global structured cabling market is expected to experience a significant level of competition in the market throughout a forecast period up to and including 2021, predict a new research study from Transparency Market Research. An expected rise in the number of players entering the global market is likely to enhance the competitive scenario in the near future.
“Some of the prominent players operating in the structured cabling market across the globe are Legrand SA, Belden Inc., CommScope Holding Company, Inc., Schneider Electric SE, and Corning Inc.,” the report states. “These players are estimated to focus on mergers and acquisitions in order to enhance their market presence across the globe.”
In addition, technological advancements and innovations are predicted to contribute towards the overall development of the market throughout the forecast period.
According to the report, the global market for structured cabling was worth US$7.11 billion in 2014 and is estimated to reach a value of US$11.45 billion by the end of 2021. The market is likely to register a progressive 7.10% CAGR between 2015 and 2021.
“In the last few years, the structured cabling market in North America led the global market and is anticipated to remain in the dominant position throughout the forecast period,” the report states.
“The robust growth of this region can be attributed to the rising penetration of internet and the presence of several data centres. In addition, the growing demand for advanced structured cabling infrastructure, which is likely to provide higher bandwidth is estimated to accelerate the growth of the North America market in the near future. On the other hand, the Asia Pacific segment is likely to register a healthy growth throughout the forecast period, thanks to the robust expansion and development of communication infrastructure.”
“The growing demand for enterprise resource planning, along with the rising trend from customer relationship management to the third party data centres has resulted in the growing need for higher bandwidth in the commercial sectors. This is likely to result in a high demand for structured cabling across several commercial sectors.
In addition, the rising demand for higher bandwidth for several applications such as faster data transmission, video calling, file downloading, and online gaming is projected to accelerate the growth of the overall market in the next few years.
On the flip side, the report notes that the “global structure cabling market is predicted to face several barriers throughout the forecast period, which is likely to hamper the growth of the overall market in the near future.
“The lack of knowledge among consumers regarding the benefits of structured cabling is projected to restrict the growth of the global structured cabling market over the forecast period. Nonetheless, the rising initiatives by governments for development of green data centres is projected to generate promising growth opportunities for market players in the next few years.”
Further information on the report is available at www.transparencymarketresearch.com.