Portland, July 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global premise cable industry was pegged at $4.83 billion in 2018, and is projected to reach $9.28 billion by 2026, growing at a CAGR of 8.3% from 2019 to 2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and changing market trends.
Rise in demand for data, enhanced cable technology, and easy installation & connection drive the growth of the global premise cable market. Conversely, high installation cost, limited availability for devices, and negative impact of internet of things impede the market growth. Nevertheless, increase in demand for high-speed connectivity devices and systems is expected to offer a number of opportunities in the coming years.
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Covid-19 Scenario:
- The global premise cable market has been severely impacted due to Covid-19. The manufacturing unit has been curtailed and investments and further projects have been put on a hold.
- The demand, on the other hand, has been decreased amid the lockdown. The supply chain disruptions have caused a shortage of raw materials.
- Moreover, the productions have been started at a slower pace, in several regions, owing to the relaxations on the restrictions imposed by the government. In addition, the market may witness increased demand from industrial and IT & telecom sectors.
The premise cable market is segmented on the basis of type, application, and region. Based on type, the copper cables held the largest market share, contributing to more than half of the global premise cable market share in 2018 and is expected to dominate throughout 2019 to 2026. However, the fiber optic cable segment is anticipated to portray the fastest CAGR of 10.2% during the study period.
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Based on application, the industrial segment dominated the market accounting for more than one-fourth of the global premise cable market revenue in 2018 and is anticipated to retain its top status by 2026. Contrarily, the IT & telecom segment is projected register the fastest CAGR of 8.5% throughout 2019 to 2026.
Based on geography, North America held the lion’s share in 2018, contributing for nearly one-third of the global premise cable market. At the same time, the region across Asia-Pacific is estimated to cite the fastest CAGR of 10.5% till 2026. Furthermore, the report also analyses regions including Europe and LAMEA.
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The premise cable leaders profiled in the report include Belden Inc., Prysmian Group, Nexans, SAB Bröckskes GmbH & Co. KG, Siemon, Schneider Electric, Alpha wire., Siemens AG, CommScope, and Southwire Company, LLC. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their premise cable industry reach.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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