Cables and Connectors Market - Global Opportunity Analysis
and Industry Forecast, 2014 - 2022, projects that thecables and connectors
market is likely to garner revenue of $125.3 billion by 2022, with a CAGR of
11.1% from 2016 to 2022. In the year 2015, Asia-Pacific dominated the cable and
connectors market owing to the huge investment in infrastructure, energy, and
technology development. Moreover, Asia-Pacific is expected to exhibit the
highest growth over the forecast period.
Increasing investments by government to improve connectivity
within regions, rising demand for higher bandwidth, heavy investments in
military and submarine sectors are expected to drive the growth in globalcables
and connectors market. Large number of developments have been undertaken by
numerous government organizations of various countries including India, China,
and Brazil to improve the network infrastructure of their regions. Such
initiatives are increasing the demand for high speed data transmission cables
and connectors. Further, growing number of data centers and government
investments to increase rural connectivity are anticipated to provide
potentially huge market for cables and connectors. However, complex fault
detection and troubleshooting process and diversion of investments in wireless
communication infrastructure are expected to limit the market growth.
External cables and connectors segment accounted for about
70% of the overall cables and connectors market revenue in 2015, owing to their
higher adoption in electronic devices. These cables and connectors include USB
cables and connectors, headphone jack, fibre optic cables, VGA cables, Ethernet
cables, and data cables which are used to connect internal cables and
connectors. This segment is anticipated to grow at the CAGR 10.4% during the
forecast period. Based on regions, Asia-Pacific market dominated the external
cables and connectors market in 2015 and is expected to continue its dominance
throughout the forecast period, exhibiting the highest CAGR 12.1%. This is due
to increasing adoption of external cables and connectors in data centers huge
investments in infrastructure, energy and technology development in
Asia-Pacific region.
CAT5/CAT6 segment of cables and connectors based on product
type, is expected to maintain its lead in revenue generation during the
forecast period. This segment accounted for the maximum revenue share in 2015
and is expected to grow at a CAGR 10.9% during 2016-2022. This boost in the
CAT5/CAT6 segment is due to changing customer preferences, increasing data
production rate and higher adoption of CAT6 wires in data transfer. However,
USB segment is anticipated to grow at the fastest CAGR 13.3% during the
forecast period, owing to increased demand for digital data storage, constant
enhancement in memory capacity and emergence of USB 3.0 & 3.1 standards for
high speed data transfer.
Among the different industry verticals, commercial industry
which includes sectors such as IT & telecom, electronics, and healthcare
industries consumes a major share of this market. This segment contributed
around 38% of total revenue in 2015 and is expected to dominate the market
throughout the forecast period at a CAGR 10.6%. The market is driven by the
growth of IT and increased dependence of businesses and institutions on
high-performing transmission systems. With the increasing penetration of
technologies such as cloud and Internet of Things (IoT), the demand for
reliable, high performance and secure data connectivity and transmission has
increased. From a growth perspective, oil & gas vertical is expected to
grow at the highest CAGR during the forecast period. Theoil & gas industry
is a sensitive market and decreasing oil and gas reserves have propelled the
demand for oil & gas exploration in newer geographies.
Asia-Pacific is the largest and fastest growing region and
is expected to maintain its dominance throughout the forecast period.
Asia-Pacific region is emerging with opportunism for the cables and connectors
market on account of huge investments in infrastructure development in
countries like India and China, focus on energy management and strengthening technological
advancements. The region is expected to grow at a CAGR 13.0% during the
forecast period. North America ranked second in terms of market share,
accounting for around 28.0% of the global market revenue of cables &
connectors in 2015.
The commercial industry comprising IT & telecom,
electronics, and healthcare industries, is growing rapidly and consumes a major
share of this market. With the increasing penetration of technologies such as
cloud and Internet of Things (IoT), the demand for reliable, high performance
and secure data connectivity and transmission has increased in Asian countries,
such as, China, Japan, Singapore, and India, who were the prominent revenue
contributors in 2015. These countries are likely to dominate the market during
the analysis period due to cheap labor, low manufacturing cost, and large
population, states Bhawna Kohli, Manager Research at AMR.
Asia-Pacific is anticipated to dominate the globalcables and
connectors market during forecast period as governments of emerging markets are
taking initiatives towards connectivity within countries; and due to rising
demand for high speed cables and connectors in various end user industries.
LAMEA is also projected to be one of lucrative markets, exhibiting the second
highest CAGR after Asia-Pacific. In this region, external cables and connectors
segment accounted for around 70% of total market revenue in 2015. The Middle
East region generated the highest revenue in LAMEA cables and connectors market
in 2015; and is expected to dominate the market throughout the analysis period.
Key Findings of Cables and Connectors Market:
- Commercial industry vertical which includes sub segments such as IT, telecom & networking, healthcare, business/office and electronics, is estimated to consume major market over the analysis period.
- In 2015, external cables and connectors segment led the overall cables and connectors market revenue, and is projected to grow at a CAGR 10.4% during the forecast period.
- CAT5/CAT6 cables segment is expected to consume largest share of cables and connectors market due to evolving networking types and demands for high speed and safe connectivity.
- Asia-Pacific would lead the market, accounting for over 40% of the market revenue by 2022.
The report outlines the competitive scenario of the
globalcables & connectors market, providing a comprehensive study of the
key strategies adopted by major companies. Key market players profiled in the
report are Amphenol Corporation, Molex Inc., Fujitsu Ltd., TE Connectivity
Limited, Prysmian S.P.A., 3M Company, Nexans, Huawei Technologies Co. Ltd.,
Alcatel-Lucent (Nokia Corporation), and Axon Cable S.A.S.
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