Portland,OR, April 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global premise cable market was estimated at $6.2 billion in 2020 and is expected to hit $15.8 billion by 2030, registering a CAGR of 9.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in demand for data communication solutions across the world drives the growth of the global premise cable market. On the other hand, the negative impact related to the Internet of Things restrains the growth to some extent. However, rise in demand for high-speed connectivity devices and systems is projected to create lucrative opportunities in the industry.
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COVID-19 Scenario:
- Shutdown of manufacturing units across the world, especially during the initial phase of the pandemic, impacted the global premise cable market negatively.
- However, the market has already started reviving soon.
The global premise cable market is analyzed across application, type, cable type, and region. Based on type, the copper cable segment accounted for more than half of the total market share in 2020, and is projected to rule the roost by the end of 2030. The fiber optic cable segment, however, would cite the fastest CAGR of 13.3% throughout the forecast period.
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Based on cable type, the CAT7 cables segment contributed to more than one-fourth of the total market revenue in 2020, and is expected to lead the trail by 2030. The CAT8 cables segment, on the other hand, would grow at the fastest CAGR of 20.7% from 2021 to 2030.
Based on geography, North America held the major share in 2020, garnering nearly one-third of the global market. The market across Asia-Pacific would cite the fastest CAGR of 11.5% by 2030. The other two provinces discussed in the report include Europe and LAMEA.
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The key market players analyzed in the global premise cable market report include Belden Inc., General Cable Technologies Corporation, Hitachi Ltd., The Siemon Company, HellermannTyton, Siemens AG, Nexans, Prysmian Group, CommScope, and Schneider Electric. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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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.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
