The structured cabling market revenue, which will stand at an estimated $6,912.1 million in 2021, is expected to witness a 7.2% CAGR between 2021 and 2030, to reach $12,916.5 million by 2030. This is because such a cabling system offers a higher bandwidth, which results in more-voluminous and faster data transfer than conventional cabling.
The increasing penetration of the internet and smartphones, which are, in turn, driving the popularity of intelligent personal assistants, digital currencies, online news, videos, audios, and games, and even autonomous and connected cars, is making higher bandwidths imperative. As a result, telecommunications, industrial, government, commercial, and many other industries are upgrading their IT infrastructure with structured cabling.
Key Findings of Structured Cabling Market Report:
- Copper cables are more popular than fiber cables as the former cost less, both to purchase and install.
- Local area networks (LANs) dominated the application segment of the structured cabling market in the past because they allow companies to integrate computers, printers, photocopiers, surveillance cameras, and phones into the network, thus boosting efficiency.
- Category 7 structured cables are expected to witness the fastest growth in demand due to the ability of just 100 meters of such copper cables to offer 10-Gigabit Ethernet.
- Due to the increasing adoption of cloud and automation solutions, the manufacturing sector is rapidly adopting structured cabling.
- Despite the costly nature of structured cabling compared to traditional cabling, enterprises are going for it. This is because this infrastructure entails 30% lower maintenance costs than a conventional one, which is a huge bonus for corporate houses.
- Due to the COVID-19 pandemic, electrical and electronics companies faced constraints in producing components, manufacturing the end products, and selling them to users. Moreover, due to the shutdown of most industries and office complexes, the demand for structured cabling reduced significantly in 2020.
- The rising uptake of the internet of things (IoT) is an important factor driving the structured cabling market advance. IoT is enabled by sensors connected to the internet that allow devices to share data with each other and a central control room. Therefore, with an increasing number of such connected devices becoming operational, the cabling infrastructure is being modernized to handle the increased data transmission requirements.
- The major firms in the structured cabling market are: Schneider Electric SE, ABB Ltd., TE Connectivity Ltd., CommScope Holding Company Inc., Panduit Corp., Corning Incorporated, Nexans S.A., Furukawa Electric Co. Ltd., Belden Inc., Legrand Holding SA, and Siemon Company. Their presence has made the market highly fragmented, which is why they and other companies are engaging in product launches.