PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1496047
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1496047
The structured cabling market was estimated at US$10.361 billion in 2022, growing at a CAGR of 8.76%, reaching a market size of US$18.648 billion by 2029.
The structured cabling market is anticipated to show steady growth during the forecast period. Structured cabling refers to the methodical arrangement of fiber and copper wiring within a building's telecommunications infrastructure. This wiring network spans across the entire building, establishing direct connections with network switches and servers and facilitating various hardware applications. Systematically installed systems forecast future requirements and demands, supporting the flawless accumulation of further hardware.
Structured cabling systems authorize absolute and reliable ways of communication by voice, video, and data. Furthermore, the systematic approach to connectivity enhances the security levels where every network point is connected to the centralized point of access. The centralized method provides access to the authorized and known person from the network to connect. Growing demand for data usage, increased demand for IoT, and escalating construction projects are driving the structured cabling market growth.
Structured Cabling Market Drivers
The structured cabling market is propelled by high data consumption. The data is a necessary component for everyday work for businesses and individuals where motives may be different, but the consumption pattern is huge. The prevalence of dependable and rapid network connections is driving the demand for the structured cabling market. These cables are the providers and transporters of the data from one point to another point with restricted bandwidth. The more bandwidth, the more reliable applications like cloud, video conference, and transfer of larger data as the bandwidth has the tendency to push and transfer data faster.
The systematic approach and installation of these cables properly enhance business activities effectively, as the connection makes accessibility easy, and the abruption rate is low. The growing demand for highly effective networks is the key driver for the structured cabling market growth, as business finds it relevant to invest in future configuration of data.
For instance, in February 2023, Nokia published an article stating that the minimal usage of data per individual has seen an upsurge since 2018, with 19.5 GB per month in 2022, the data consumption on a monthly basis is equal to 6600 songs. The company states that data consumption in India will witness more than ever as compared present scenario by 2024.
The rise of the Internet of Things (IoT) is driving growth in the structured cabling sector. As the various devices connect to each other through the network and produce a huge amount of data, a powerful cable configuration is a must. Structured cabling offers an efficient output. The technique implements a relevant base for the connection of these devices, undertaking ideal data transfer all over the network.
Structured cabling assures the connected devices can interact without any abruption, establishing the unseen infrastructure that prolongs the entire system's easy operation. As the requirement for rapid IoT blending grows, the frequency of the structured cabling market grows.
For instance, in 2023, Ericsson published an article stating that it is anticipated that there will be 1.6 billion established connections with respective broadband IoT (4G/5G).
The surge in construction, particularly in commercial spaces and data centers, is creating a thriving market for structured cabling. The growing prevalence of investment in the respective construction sector enhances the structured cabling market growth. This cabling process is an essential component before construction as it serves as the transfer system throughout the building; in other words, it's called the central nervous system for buildings. The building may be an office or data center, and the proper cabling systems establish a proper networking site.
A reliable network base permits effortless data travel, smooth messaging, and readiness for technological progress. As new buildings continue popping up rapidly, sturdy wiring becomes vital. Construction workers realize future-proof se-tups are key investments in handling today's data-hungry buildings. This drives major structured cabling demand.
For instance, in November 2023, Microsoft enhanced its presence in Canada's cloud computing landscape by establishing several additional data centers in Quebec. This impressive investment of $500 million aims to greatly enhance Microsoft's domestic cloud infrastructure.
Structured Cabling Market - Geographical Outlook
North America is anticipated to account for a significant share of the structured cabling market due to factors like the region's significant growth in the data consumption pattern and the huge usage of IoT devices. As enterprises depend on high bandwidth cabling systems to efficiently manage the growing data flow within the organization.
Furthermore, advancing technologies like Power over Ethernet also boost market appeal. Together, these factors combine with an emphasis on future-proofing networks. This positions North America as a key structured cabling solution market.
Structured Cabling Market Restraints
Cabling systems come with costs for cables, connectors, patch panels, ne¬twork gear, and expert installation. These expenses can feel big, mainly for large projects. Finding a middle ground between saving money and enabling future change presents a test.
Setting up cabling might seem tough, especially for comple¬x buildings. It's crucial to know how to route cables properly, connect them, and test them. This ensures they work well and pre¬vents future issues.
Structured Cabling Market Key Industry Developments
Structured Cabling Market Major Players and Products