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Global Cables and Connectors Market – by Installation Type, Product Type, Vertical, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Global Cables and Connectors Market – Segmented by Installation Type, Product Type, Vertical, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts | MarkGenes
Cables and Connectors are mainly used for the purpose of connectivity for transferring data using signal transmission and also for power supply usage for various electronic peripherals in various industries. Different types of cables and connectors such as HDMI, DVI, Fiber and VGA ensure to meet the needs with its potential to consign high-bandwidth and low signal loss data streams.
The global cables and connectors market was USD 78.12 billion in 2018 and is estimated to reach USD 154.42 billion by 2025 at a CAGR of 10.22% during the forecast period.
Growth by Region
Asia-Pacific holds the largest market share and is anticipated to dominate the market due to the rising demand of high-speed cables and connectors along with increasing investments in infrastructure development in countries such as India and China. APAC region is trailed by Europe, with its high demand and early reception of marine links and connectors.
Drivers vs Constraints
Growing number of data centers and increasing demand for higher bandwidth is the major driving factor behind the huge demand for cables and connectors worldwide. Increasing expenditure done by the IT and telecom services to meet consumer demand consequently drives the market to a larger extent worldwide. On the other hand, the rising demand and the influx of wireless technologies pose a major hindrance for the market. The evolution and widespread use of wireless technologies due to the benefits such as high-speed data transmission is bottlenecking the growth of cables and connectors market to a much larger extent globally.
Industry Trends and Updates
YAZAKI Europe, a Japanese-based company had built its first Serbian plant by investing USD 30 million focusing mainly on automotive cable manufacturing. The company is currently planning to expand its operations to South Eastern Europe in order to expand its global presence.
Prysmian Group had planned to make an investment of €170 million in a new cable laying subsea vessel. Lately, the company has secured several contracts in submarine cable laying business with an order intake of €1 billion.
Browse other Information and Communication Technology reports at: https://markgenes.com/industry-reports/information-and-communication-technology
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