Key players in the global cable connectors and adapters market will be taking maximum advantage of aggressive pricing strategies in the coming years to achieve higher sales volume, observes Transparency Market Research. Companies will also work closely with their customers to design products specific to their needs to not only improve revenues but also to increase brand value. “Overcoming the challenge of designing products that are small in size and weigh less to cater to the demand of the dynamic IT and communication devices manufacturing industry will benefit players in the cable connectors and adapters market,” says the lead author of this research report.
Currently, TE Connectivity, Amphenol Corp, L-Com Global Connectivity, and General Cable are some of the leading companies in the cable connectors and adapters market. Forming strategic alliances with domestic players to extend their footprint in newer regions is being seen as a preferred growth strategy of companies. A case in point would be the introduction of L-Com Global Connectivity’s CGU2AB-series cables that support USB 2.0 standards in October 2015. These cables are aimed at delivering high-performance connectivity at a low price.
Digitization Brings in Demand for Modern Cable Connectors and Adapters
Programs initiated by governments across the globe to digitize various operations across various sectors has been the driving force behind the penetration of the Internet in the remote corners of the world. This has increased the number of Internet users and intensified the dependence on the Internet for the effective application of technologies and communication solutions. The awareness about social media and accessibility to information through these mediums has thus perpetrated a movement to secure better Internet connectivity, thereby stirring an unprecedented demand for cable connectors and adapters.
The global cable connectors and adapters market is also being boosted by increasing expenditure on IT and telecom services by the commercial sector to meet consumer demand. The consistent industrialization and emerging markets in Asia Pacific have necessitated the adoption of new technologies such as cloud computing and e-commerce, which are governed by reliable Internet connectivity and modern devices. All of these factors have collectively created an acute need for cable connectors and adapters.
Development of Wireless Technologies Could Limit Role of Cable Connectors and Adapters
The evolution of wireless technologies have persistently rendered cable connectors and adapters obsolete, largely eliminating their purpose as users are adopting and adapting to smartphones, tablets, laptops, and other PDAs. The widespread use of wireless technologies in developing and developed markets due to benefits such as high-speed data transmission is expected to restrict the sales of cable connectors and adapters in the near future.
Growing Datacenters Boost Asia Pacific Cable Connectors and Adapters Market
According to TMR, the opportunity in the global cable connectors and adapters market will be worth US$85.75 bn by 2022 as compared to US$47.78 bn in 2014. Between the forecast period of 2015 and 2022, the market will rise at a CAGR of 7.8%. Between 2014 and 2022, the external cable connectors and adapters segment is expected to expand at a CAGR of 6.6%, maintaining its leading position. Asia Pacific dominated the global market and is expected to continue in this position due to the growing number of datacenters in Indonesia, Australia, India, and China. By the end of 2021, the region is expected to account for a share of 40.0% in the global market.
This review is based on Transparency Market Research’s report, titled “Cable Connectors and Adapters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022.”
- Global cable connectors and adapters market to reach US$85.75 bn by 2022
- Asia Pacific to hold 40.0% of the global cable connectors and adapters market by 2021
- Miniaturization to be the key product development strategy in coming years
The global cable connectors and adapters (Used in IT Applications) market has been segmented as follows:
Cable Connectors and Adapters (Used in IT Applications) Market, by Type
Cable Connectors and Adapters (Used in IT Applications) Market, by Product Type
- USB 2.0
- USB 3.0
- USB 3.1
- Type C
- Others (Fiber Optics, Firewire etc)
Cable Connectors and Adapters (Used in IT Applications) Market, by Material
- Copper Cables
- Fiber Optics
Cable Connectors and Adapters (Used in IT Applications) Market, by Application
- Computer and Computer Peripherals
- Input Devices
- Output Devices
- Storage Devices
- Smartphones and Tablets
- Consumer Electronics
Cable Connectors and Adapters (Used in IT Applications) Market, by Geography
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- South Asia
- Rest of APAC
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Latin America
- Rest of Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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