The global structured cabling market is expected to witness a significant level of competition among the leading players throughout the forecast period, states a new research study by Transparency Market Research. An expected rise in the number of players entering the global market is likely to enhance the competitive scenario in the near future. Some of the prominent players operating in the structured cabling market across the globe are Legrand SA, Belden Inc., CommScope Holding Company, Inc., Schneider Electric SE, and Corning Inc. These players are estimated to focus on mergers and acquisitions in order to enhance their market presence across the globe. In addition, technological advancements and innovations are predicted to contribute towards the overall development of the structured cabling market throughout the forecast period.
According to the research report by Transparency Market Research, in 2014, the global market for structured cabling was worth US$7.11 bn and is estimated to reach a value of US$11.45 bn by the end of 2021. The market is likely to register a progressive 7.10% CAGR between 2015 and 2021.
Asia Pacific to Offer Growth Opportunities for Market Players
In the last few years, the structured cabling market in North America led the global market and is anticipated to remain in the dominant position throughout the forecast period. The robust growth of this region can be attributed to the rising penetration of internet and the presence of several datacenters. In addition, the growing demand for advanced structured cabling infrastructure, which is likely to provide higher bandwidth is estimated to accelerate the growth of the North America market in the near future. On the other hand, the Asia Pacific segment is likely to register a healthy growth throughout the forecast period, thanks to the robust expansion and development of communication infrastructure.
Among the key applications, the commercial segment is expected to lead the and is projected to account for a lion’s share throughout the forecast period. According to the research report, this segment is predicted to exhibit a 7.10% CAGR between 2015 and 2021. The growing demand for enterprise resource planning, along with the rising trend from customer relationship management to the third party datacenters has resulted the growing need for higher bandwidth in the commercial sectors is predicted to encourage the growth of the overall market in the near future. This is likely to result in a high demand for structured cabling across several commercial sectors is projected to propel the global structured cabling market in the near future.
Rising Demand for High Bandwidth to Encourage Growth
The rising demand for higher bandwidth across the diverse industrial sectors is one of the key factors estimated to encourage the growth of the global structured cabling market throughout the forecast period. In addition to this, the rising demand for higher bandwidth for several applications, such as faster data transmission, video calling, file downloading, and online gaming is projected to accelerate the growth of the overall market in the next few years.
On the flip side, the global structure cabling market is predicted to face several barriers throughout the forecast period, which is likely to hamper the growth of the overall market in the near future. The lack of knowledge among consumers regarding the benefits of structured cabling is projected to restrict the growth of the global structured cabling market over the forecast period. Nonetheless, the rising initiatives by governments for development of green datacenters is projected to generate promising growth opportunities for market players in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Structured Cabling Market (Application - Commercial, Residential, Government, Industrial, and Transportation; Solution Type - Hardware (Copper Cable, Fiber Cable, Patch Panels and Cross Connects, Racks and Cabinets), Software, and Service) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
The global structured cabling market has been segmented as below:
Global Structured Cabling Market, By Application
Global Structured Cabling Market, By Solution Type
- Copper Cable
- Fiber Cable
- Patch Panels and Cross Connects
- Racks and Cabinets
Global Structured Cabling Market, By Geography
- North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of the World (RoW)
- Middle East
- Latin America
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