Portland, May 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ethernet cable market garnered $7.60 billion in 2018, and is estimated to generate $21.36 billion by 2026, growing at a CAGR of 13.5% from 2019 to 2026. The report provides a detailed analysis of key market dynamics, driving factors & opportunities, top investment pockets, key segments, value chain, and competitive landscape.
Huge speed and low latency of cables, surge in low-security threats, high reliability, and features such as ease in installation & connectivity drive the growth of the global ethernet cable market. However, high cost of installation and restrained physical availability of devices hinder the market growth. On the other hand, rise in demand for power over ethernet in industries would offer new opportunities in the near future.
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On the basis of type, the copper cable segment accounted for the highest share in 2018, holding more than half of the global market, and will maintain its highest contribution during the forecast period. This is due to ease in availability, robustness, and affordable deployment. However, the fiber optic cable segment would grow at the fastest CAGR of 18.3% during the forecast period.
Based on application, the industrial segment is projected to witness the highest CAGR of 13.1% from 2019 to 2026, owing to growth of the industrial sector and rise in adoption of ethernet cable at working sites. On the other hand, the commercial segment accounted for the highest share in 2018, contributing to nearly half of the global ethernet cable market. This is due to the development of commercial sector in different countries across the globe. The report also analyzes the residential segment.
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Based on region, North America accounted for the highest share in 2018, contributing to more than one-third of the total market share, and will maintain its dominance during the forecast period. This is attributed to technologically advanced infrastructure and implementation of new data centers in the region. However, Asia-Pacific would manifest the highest CAGR of 16.8% during the forecast period, owing to increase in digital trends in commercial, residential, and industrial sectors.
Leading market players analyzed in the research include Belden Inc., Nexans, General Cable Technologies Corporation, Siemon, SAB Bröckskes GmbH & Co. KG, Anixter Inc., Schneider Electric, Commscope, Siemens AG, and Prysmian Group.
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