ALBANY, New York, March 21, 2016 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Structured Cabling Market - Global Industry Analysis, Trend, Size, Share and Forecast 2015 - 2021", structured cabling market was valued at US$7.11 bn in 2014 and is expected to reach US$11.45 bn by 2021, at a CAGR of 7.1% from 2015 to 2021.
Full Research Report on Global Structured Cabling Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/structured-cabling-market.html
The global structured cabling market is primarily driven by increasing demand for higher bandwidth globally. High bandwidth is most important for applications such as video calling, faster data transmission, online gaming and file downloading among others. Thus with the increase in the number of internet users, the demand for high bandwidth is expected to increase considerably across different commercial, industrial and IT (information technology) sectors.
According to the United Nation's International Telecommunications Union, the number of internet users worldwide was estimated to be around 3 billion in 2014. This number is expected to increase considerably in the coming years and in line with this, structured network demand over corporate sector is also expected to increase through forecast period. This in turn triggers the need of advanced structured cabling solution globally. In addition, the need for modernization and expansion of communication network adopted by different enterprises is also expected to accelerate the demand for structured cabling globally.
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The global structured cabling market is segmented on the basis of solution type, application and geography. By application, the structured cabling market has been segmented into commercial, residential, government, industrial and transportation. On the basis of solution type, structured cabling market is segmented into hardware, software and service. The hardware segment is further segmented into fiber cable, racks and cabinets, copper cable and patch panel and cross connects. By geography, the structured cabling market has been classified into: North America, Asia Pacific, Europe and Rest of the World (ROW).
Among the different solution type of structured cabling, hardware segment held the largest market share with 89.0% share in 2014. The hardware segment is mainly driven by copper cable. However, across the different applications of structured cabling, the residential sector is expected to be the fastest growing market during the forecast period. The modular design of structured cabling is very flexible and supports future up gradation where new cable structure can be added or move without any new modification in the cabling infrastructure. This makes it most suitable for residential purpose and thus results in higher adoption of structured cabling infrastructure in the residential sectors. By geography, North America held the largest market share in structured cabling market and accounted for 38.8% market share in 2014. Being a mature market owing to high penetration level, the structured cabling market in North America is predicted to experience sluggish growth in the coming years. Europe held the second largest market share in the global structured cabling market. Initiative taken by European Commission to reduce carbon emission and electricity consumption is also responsible for the robust growth of structured cabling market in Europe during the forecast period.
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Some of the major market players operating in the structured cabling market are: Legrand SA (France), Belden Inc. (US), CommScope Holding Company Inc. (Carolina), Schneider Electric SE (France), and Corning Inc. (New York) among others.
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SOURCE Transparency Market Research