The global structured cabling market was valued at US$ 7,172.5 Mn in 2017 and is anticipated to register a stable CAGR of 7.2% during the forecast period, according to a new report published by Transparency Market Research (TMR) titled ‘Structured Cabling Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Increasing demand for high bandwidth and expansion and modernization of communication infrastructure fueled by economic growth have driven the global structured cabling market. The market in North America is expanding at the maximum CAGR of 7.1%, owing to technological innovations and presence of a large number of players in the region.
Hardware segment to drive the structured cabling market
Expanding cable network fueled by rise in modernization of infrastructure in developing economies is resulting in high demand for structured cabling worldwide. Copper cable is the most common cable used in structured networking, due to its lower costs compared to optical fiber. Copper cables are employed in power generation, power transmission, power distribution, telecommunications, electronics circuitry, and numerous electric equipment. Copper has the maximum electric conductivity rating among all non-precious metals.
This boosts the demand for copper cables across the globe. The hardware sector has witnessed strong growth, due to continuous installation of a large number of machines and assembly units across the world, followed by extensive channels of wiring systems. This is expected to continue to augment the demand for structured cabling during the forecast period.
Rise in modernizing of communication infrastructure in IT & telecommunication industry to drive the market
Based on end-user, the global structured cabling market has been segmented into commercial & residential, IT & telecommunication, government, industrial, and others (including mining and education). IT & telecommunication is anticipated to be the rapidly expanding end-user segment during the forecast period, followed by the industrial segment. The IT & telecommunication segment is expected to dominate the global market for structured cabling, expanding at the maximum CAGR of 7.3% throughout the forecast period. This is attributable to rising need to facilitate rapid communication and optimized energy consumption.
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Recently, various enterprises have taken initiatives to expand and modernize their communication infrastructure. The industrial end-user segment is anticipated to expand at a significant CAGR during the forecast period, due to increasing penetration of portable computing devices and rising dependency of multiple industrial sectors on cloud applications.
There has been a rapid adoption in the digital services and a surge in the number of internet users, which has led to phenomenal rise in the volume of data, particularly sensitive data, gathered by various organizations. This type of cabling arrangement helps in the transfer of data at a much faster speed. These factors are likely to work in favor of the global structured cabling market in the near future. Augmented focus on the need for business automation, increasing IoT data, growing competition, and efficient management of time and cost are likely to augur well for the market in the forthcoming years.