Portland,OR, Sept. 14, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global structured cabling market generated $10.62 billion in 2020, and is projected to reach $20.88 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030. The report offers an in-depth market analysis, emerging market trends, and key strategies.
Rise in demand for high-speed connectivity devices systems, increase in expansion of data centers, and growth in demand for structured cabling due to technological advancements drive the growth of the global structured cabling market. On the other hand, advent of wireless communication systems restrains the market growth. Nevertheless, growth in IT and Telecom sector and high investment in Asia-Pacific region are anticipated to present lucrative opportunities for the market players in the approaching time.
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Covid-19 Scenario:
- Business and manufacturing units across various countries happened to suffer during the initial phase of the lockdown due to the outbreak of the pandemic. Suspended facilities and disrupted supple chains were the major factors that affected the market growth during this phase.
- However, most of the regions have either recovered or are recovering along with the mandatory precautionary measures to curb the spread. Also, vaccination drives across the region are now pacing up which is further assisting the industry growth.
The report analyzes the market based on cable type, industry vertical, and region. Based on offering, the hardware segment held the largest market share in 2020, with more than two-thirds of the global structured cabling market. However, the software segment is expected to showcase the highest CAGR of 8.6% during the forecast period.
Based on type, the CAT 6 segment accounted for highest market share in 2020, contributing to more than two-fifths of the global structured cabling market. On the other hand, the CAT 6A segment is anticipated to manifest the highest CAGR of 7.70% during the forecast period.
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Based on region, the market is studied across numerous regions including Asia-Pacific, Europe, LAMEA and North America. The region across Asia-Pacific is projected to register the fastest CAGR of 9.2% during the forecast period. On the other hand, the global structured cabling market across North America dominated with largest share in 2020, contributing to nearly one-third of the total revenue of the market.
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The frontrunners profiled in the global structured cabling market report include Belden, Inc., Cisco Systems, Inc., CommScope Holding Co., Furukawa Electric Co., Ltd., Legrand, Nexans S.A., Schneider Electric, Siemon, Corning Inc., and TE Connectivity.
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