The latest stats from Report Buyer indicate that the global cable and connector market is expected to reach $43.55 billion by 2020, at a CAGR of 12.7% between 2014 and 2020.
Interestingly, the report showed that one of the biggest markets to have a big share in this growth is in the submarine communications industry because of the growing demand for sub-sea cables and connectors. Governments are continuing to invest heavily in fiber optic telecommunication and data networks throughout the globe. And because of these harsh environments, these interconnect components must be engineered to be rugged and water resistant.
Report Buyer says that rising Internet penetration and the need for high-speed internet connection are the major driving factors for this growth. With the demand for bandwidth growing rapidly, there is an ever-increasing need for fiber optic interconnectivity to support the growing data traffic.
The global cables and connectors market has been segmented into four categories that include: component segment, application, industry, and geography. The component segment includes cable and cable assemblies, electronic and mechanical connectors, and other components. The application segment includes testing and manufacturing/ production. The industry segment includes satellite and submarine industries. The cables and connectors market has also been segmented on the basis of geography. The market by geography has been classified into various regions such as the Americas, Europe, APAC, and RoW.
The major players that offer various products in the cables and connectors market are Alcatel-Lucent (France), Amphenol Corp. (U.S.), TE Connectivity Ltd. (Switzerland), Prysmian Group (Italy), Nexans S.A (France), Fujitsu (Japan), Axon Cables (France), Molex, Inc. (U.S.), Esterline Technologies Corp. (U.S.), and Huawei Technologies Co. Ltd. (China).
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