October 06, 2022 06:50 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The global structured cabling market size was valued at USD 10.85 billion in 2021. The market is projected to grow from USD 11.62 billion in 2022 to USD 21.48 billion by 2029, exhibiting a CAGR of 9.2% during the forecast period. Fortune Business Insights presents this information in its report, titled, “Structured Cabling Market Forecast, 2022-2029.”
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June 2022: Nexans unveiled the Mobiway Un-Reel solution, making cable installation simple, more inventive, cost-efficient, and more safe throughout an expansive variety of low and medium-voltage cables.
Reduced Investments and Banned Broadband Connection Functions Obstructed Market Growth The COVID-19 pandemic has considerably influenced the advanced technology sectors throughout the world. The COVID-19 pandemic has severely swayed the supply of raw materials associated with the electronics industry. The value chains of the electronics and telecom sectors have been interrupted across the globe due to the termination of manufacturing units.
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Increasing Broadband Infrastructure Developments to Fuel Market Growth
The growing advancements of broadband infrastructure projects and the augmentation in the initiatives of government investments in multiple countries for making smart cities have resulted in the demand for structured cabling solutions. Broadband connections are inaugurated with the assistance of this cabling and related hardware systems, which enable practical telecommunication industries.
Growing Investment by Vital Players for Digitalization and Surging Production of Cabling Supports Market Growth
The market scope includes fiber cabling, cabling infrastructure, and copper cabling based on type. Copper cabling is predicted to have the largest market share as increasing investment by the dominating players to inaugurate digital infrastructures across the globe.
Growing Investment for Establishment of Data Centers Supports Market Growth
The market study comprises data center and Local Area Network (LAN) based on application. The LAN segment is anticipated to hold the largest structured cabling market share owing to prompt development and investments in broadband connectivity throughout the globe.
Royalty to Observe High Growth Backed by Increasing Bulk Purchase of IP Products by Electronics Device Manufacturers
The market scope includes Cat 5E, Cat 6, Cat 6A, Cat 7/7A, and others (Cat 8) based on cable type. Cat 6 is predicted to hold the largest market share owing to its utilization for commercial and industrial applications.
Growing Development Cloud Infrastructure and Data Center by Dominating Players Assists Market Growth
The market scope includes residential, commercial, and industrial based on end-user. Industrial segment is estimated to hold the largest market share and grow with the highest CAGR during the forecast period. This is principally owing to increasing expansion of the local area network internet connectivity and growing capitalization for 5G network establishments. Geographically, the market share is fragmented into five major regions, Asia Pacific, North America, the Middle East & Africa, Europe, and South America.
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North America to Lead Backed by Adoption of Key Technologies
North America is projected to account for the largest structured cabling market share in the global market during the forecast period, stoked by the surging investment by the fundamental players in emerging the region's 5G, broadband, and communication infrastructure development projects.
Asia Pacific is anticipated to grow at the greatest CAGR during the forecast period owing to the multiplying capitalization by governments of various countries in wireless technology and city projects.
Europe is anticipated to grow with an average CAGR, owing to the pioneering players' surging cloud infrastructure and data center-related investment.
Inventive Product Launch Declarations by Chief Players to Propel Market Growth
The leading structured cabling players adopt several strategies to bolster their position in the market. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
List of Key Players Mentioned in the Report:
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