PORTLAND, Oregon, August 18, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, World Cables and Connectors Market, projects that the world cables and connectors market is likely to garner revenue of $125.3 billion by 2022, with a CAGR of 11.1% from 2016 to 2022. In the year 2015, Asia-Pacific dominated the world cable and connectors market owing to the huge investment in infrastructure, energy, and technology development. Moreover, Asia-Pacific is expected to exhibit the highest growth over the forecast period.
Among the different industry verticals, commercial industry which includes sectors such as IT & telecom, electronics, and healthcare industries consumes a major share of this market. With the increasing penetration of technologies such as cloud and Internet of Things (IoT), the demand for reliable, high performance and secure data connectivity and transmission has increased. From a growth perspective, oil & gas vertical is expected to grow at the highest CAGR during the forecast period. The global oil & gas industry is a sensitive market and decreasing oil and gas reserves have propelled the demand for oil & gas exploration in newer geographies.
Sample of the Cables and Connectors Market Report can be accessed on Website https://www.alliedmarketresearch.com/cables-and-connector-market
The world cables and connectors market is categorized into internal cables and connectors and external cables and connectors by installation type. The internal cables and connectors market is expected to grow at the highest CAGR during the forecast period owing to the focus towards miniaturization of electronics and increased adoption of wireless technologies. Among the different product types; CAT5/CAT6 cables and connectors was the dominant segment in 2015, which accounted for around 47% of market share, owing to high performance and long-distance connectivity. The USB cables and connectors segment is expected to grow at the highest CAGR due to demand for On-the-Go connectivity and high speed data transmission.
Asia-Pacific is the largest and fastest growing region and is expected to maintain its dominance throughout the forecast period. Asian countries, namely China, Japan, and India, among others are the prominent revenue-generators due to cheap labor, low manufacturing cost, and large population. North America ranked second in terms of market share, accounted for 27.8% of the global market revenue of cables and connectors in 2015.
- Commercial industry vertical which includes sub segments such as IT, telecom & networking, healthcare, business/office and electronics, is estimated to consume major market over the analysis period.
- CAT5/CAT6 cables segment is expected to consume largest share of cables and connectors market due to evolving networking types and demands for high speed and safe connectivity.
- Asia-Pacific would lead the market, accounting for over 40% of the market revenue by 2022.
The report outlines the competitive scenario of the world cables and connectors market, providing a comprehensive study of the key strategies adopted by major companies. Key market players profiled in the report are Amphenol Corporation, Molex Inc., Fujitsu Ltd., TE Connectivity Limited, Prysmian S.P.A., 3M Company, Nexans, Huawei Technologies Co. Ltd., Alcatel-Lucent (Nokia Corporation), and Axon Cable S.A.S.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research