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Structured Cabling Market to be Worth $23.2 Billion by 2030: Grand View Research, Inc.
The presence of a high connectivity network in regions such as North America has facilitated the widespread adoption of structured cabling systems. Thus, the North American market is expected to witness substantial growth over the forecast period. Additionally, an expanding communication network architecture and a rise in demand for data centers have increased the demand for structured cabling systems.
Asia Pacific is projected to register the fastest growth rate over the forecast period. The regional market is predicted to grow as a result of key factors such as government measures to promote digitalization, upgraded facilities, population increase, faster adoption of smart devices, and investments in cloud and IoT technologies.
Structured cabling systems are used across various verticals such as government, industrial, IT and telecommunications, residential, and commercial. The IT and telecommunication segment is expected to exhibit the highest CAGR over the forecast period owing to data center convergence in technologies supporting data and voice services. An increase in the usage of mobile Internet with high-speed connectivity is expected to bolster the market growth. Building smart cities and residences will also play a significant role in expanding the worldwide market potential.
To expand their product portfolio and maintain a strong position in the market, players have used tactics such as expansions, agreements, partnerships, and joint ventures and are engaging in the creation of new products with high speed and better features. Companies have also received official authorization for the launch of devices that provide high speed and security.
Grand View Research has segmented the global structured cabling market based on product type, application, vertical, and region:
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James
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Grand View Research, Inc.
Phone: 1-415-349-0058
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