PUBLISHER: Grand View Research | PRODUCT CODE: 1268752
PUBLISHER: Grand View Research | PRODUCT CODE: 1268752
The global structured cabling market size is projected to reach USD 23.17 billion by 2030, according to a study conducted by Grand View Research, Inc., recording a 10.7% CAGR during the forecast period. The increased demand for advanced technologies has resulted in the production of massive amounts of IoT data, which frequently causes delays and latency. Systems with structured cabling improve data transmission speed, which further helps to prevent delays.
The widespread adoption of structured cabling systems has been facilitated by a highly connected network in areas like North America. Thus, the North America regional market is anticipated to experience significant development throughout the forecast period. The need for structured cabling systems has also grown due to an expanding communication network design and rising demand for data centers.
Asia Pacific region is anticipated to experience the fastest development. Key elements like government initiatives to support digitalization, modernized infrastructure, population growth, a quicker uptake of smart devices, and investments in cloud and IoT technologies are expected to drive regional market growth.
Structured cabling systems are used across several industries, such as industrial, government, IT & telecommunications, commercial, and residential. The IT and telecommunications segment is expected to exhibit the highest CAGR due to data center convergence in technology supporting voice and data services. Increasing high-speed connectivity and mobile Internet usage are expected to drive market growth. Building residences and smart cities will also be important in expanding the market potential.
Expanding the product portfolio and maintaining a robust position in the market, prominent companies have used tactics such as joint ventures, agreements, expansions, and collaboration and creating new products with high speed and better features. The organization has also received official authorization to launch devices with better security and high-speed internet.