Rockville , July 05, 2023 (GLOBE NEWSWIRE) -- According to a new market research report “Structured Cabling Market Analysis By Solution (Hardware, Software Services), By Vertical (IT & Telecom, Industrial, Transportation & Logistics, Residential, Commercial) & By Region - Global Market Insights 2023 to 2033” the global structured cabling market size stands at US$ 11.51 billion in 2023 and is projected to reach US$ 18.94 billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
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Key Driving Forces Accelerating the Market Growth
With the rising adoption of cloud computing, big data analytics, Internet of Things (IoT), and other data-intensive applications, there is a growing need for high-speed data transmission. Structured cabling provides a reliable and scalable solution to meet this demand, driving market growth.
- The market in the US is expected to witness a market value of US $ 6.68 Bn by 2033. Moreover, the US has experienced a surge in demand for data center services due to high growth in internet users and smart mobile communication devices.
The proliferation of data centers across various industries, including IT, telecommunications, healthcare, and finance, is contributing to the growth of the structured cabling market. Data centers require robust and scalable cabling infrastructure to support their operations, leading to increased adoption of structured cabling systems.
Fiber optic cables offer advantages such as higher bandwidth, longer transmission distances, and immunity to electromagnetic interference. The increasing demand for high-speed connectivity and the need to support emerging technologies like 5G, virtual reality, and augmented reality are driving the adoption of fiber optic-based structured cabling solutions.
Many organizations are upgrading their outdated or inefficient cabling infrastructure to meet the requirements of modern technologies. The need for higher bandwidth, improved reliability, and enhanced network performance are key drivers for the replacement and installation of structured cabling systems.
Vital Indicators Shaping The Future Of The Industry
The structured cabling market will be shaped by advancements in technology, such as higher-speed Ethernet standards, fiber optic innovations, and emerging connectivity solutions. The adoption of these technologies by industries and businesses will drive the demand for advanced structured cabling systems. The deployment and expansion of 5G networks will have a significant impact on the structured cabling market. 5G technology requires robust and high-capacity infrastructure to support its network requirements, driving the demand for structured cabling solutions capable of handling increased data speeds and bandwidth.
The growth of cloud computing and the increasing number of data centers will continue to drive the demand for structured cabling. Data centers require efficient and reliable cabling infrastructure to support their operations and connect servers, storage systems, and networking equipment.
The proliferation of IoT devices across various industries will fuel the demand for structured cabling systems. IoT devices require reliable connectivity to transmit and receive data, and structured cabling provides the necessary infrastructure to support these devices and enable seamless communication.
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Challenges Hindering The Market Growth
Cost is a significant challenge in the structured cabling market. The installation and maintenance of structured cabling systems can be expensive, particularly for large-scale projects. Cost considerations can deter some organizations from investing in or upgrading their cabling infrastructure, affecting the market growth.
The rapid pace of technological advancements can lead to the obsolescence of cabling infrastructure. As new technologies emerge and standards evolve, existing cabling systems may become outdated and incompatible. This challenge requires businesses to regularly upgrade their cabling infrastructure to stay current and support emerging technologies.
Structured cabling involves the integration of various components, such as cables, connectors, patch panels, and networking equipment. Ensuring compatibility and interoperability among these components can be complex, especially in heterogeneous environments. Interoperability challenges can slow down deployments and hinder market growth.
Strategies For Manufacturers/Suppliers To Scale In The Market
Key players in the market are focusing on various strategies to establish a strong market share that includes acquisitions, partnerships, mergers, and collaborations to maintain high profits.
- For instance, Oracle Labs collaborated with CommScope to upgrade its network infrastructure in November 2022. Moreover, it has helped the company to significantly enhance its throughput capacity from 330 gigabytes to an impressive 1.2 terabytes.
- Manufacturers/suppliers can expand their product offerings by diversifying their range of structured cabling solutions. They can develop new products or enhance existing ones to cater to evolving customer needs and emerging technologies. Innovation in terms of higher performance, improved efficiency, and compatibility with new standards can help manufacturers/suppliers differentiate themselves and attract a wider customer base.
Key Companies Profiled in This Report:
- Corning Incorporated
- CommScope Holding Company Inc.
- Nexans S.A.
- Legrand SA
- Datwyler Cabling Solutions AG
- Panduit Corp.
- The Siemon Company
- Schneider Electric SE
- ABB Ltd.
- Nutmeg Technologies
- Superior Essex Inc.
- Belden Inc.
- Furukwa Electric Co. Ltd.
- Hubnetix Corporation
- Tri-City Electric Co.
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