Structured cabling market worth US$14.3 billion by 2025: Grand View
April 25, 2018
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The global structured cabling market size is projected to reach US$14.3 billion by 2025, according to a study conducted by Grand View Research, Inc., recording a 7.6% CAGR during the forecast period.
“The need for advanced technologies has increased the generation of vast amounts of IoT data, which often causes delays and latency,” Grand Views said in a release. “Structured cabling systems help enhance data transfer speed, which further aids in avoiding delays.”
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 centres 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.
The report notes that:
* The fiber optic cables segment is estimated to reach around US$4.2 billion over the forecast period owing to increasing importance of cloud computing and high bandwidth applications
*The data centre 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
*Prominent players in the structured cabling market include ABB, Belden, CommScope, Corning, Furukawa Electric, Legrand SA, Nexans, Schneider Electric and Siemon.