The latest report by IMARC Group, titled “Cables and Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global cables and connectors market size reached US$ 99.0 Billion in 2022. Cables and connectors are connectivity apparatuses that facilitate the transmission of signals, data, and power supply for electronic appliances in several sectors. They transfer data between several devices from source to destination. They find extensive network use, including fiber optics, coaxial, Shielded Twisted Pair (STP), telephone, and Unshielded Twisted Pair (UTP). Connectors act as interfaces that enable the connection of devices through cables and are frequently employed in electronic gadgets like laptops, mobile phones, and computers. In addition, they transfer data to devices such as printers, digital cameras, flash memory sticks, webcams, keyboards, portable media players, and internet modems. As a result, cables and connectors are widely utilized in several industries across the globe.
Global Cables and Connectors Market Trends:
The market is primarily driven by the increasing demand for cable and connectors in numerous industry verticals such as energy and power, commercial, aerospace, and defense sectors. In addition, the rising product adoption in the automotive sector, the growing shift toward electric vehicles, and the incorporation of in-vehicle infotainment systems are advancing the use of cable and connectors, contributing to the market growth. Moreover, various technological advancements and the integration of digitalization, fifth-generation (5G) networks, and the industrial internet of things (IIoT) with enterprise networking represent another major growth-inducing factor. Apart from this, various governments are investing in network infrastructure to enhance connectivity, which is influencing the market growth. Along with this, the widespread adoption of cable and connectors in the oil and gas industry for their user-friendliness and easy-to-install properties to increase the refinery efficiency and profitability of the sector is augmenting the market growth. Furthermore, the expanding telecommunication sector, mergers and acquisitions (M&A), and the extensive use of cables and connectors in receivers, home theater systems, soundbars, and gaming systems are creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 131.9 Billion by 2028, exhibiting a CAGR of 5% during the forecast period (2023-2028).
- Based on the product type, the market has been bifurcated into internal and external cables and connectors.
- On the basis of the installation type, the market has been categorized into HDMI, USB, VGA, DVI, CAT5/CAT6, and others.
- Based on the vertical, the market has been classified into automotive, commercial, oil and gas, energy and power, aerospace and defense, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being 3M Company, Amphenol Corporation, Axon' Cable, Fujitsu Limited, Huawei Technologies Co. Ltd, Molex LLC (Koch Industries Inc), Nexans, Prysmian S.p.A., Sumitomo Electric Wiring Systems Inc. and TE Connectivity.
|Base Year of the Analysis
||Product Type, Installation Type, Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, Amphenol Corporation, Axon' Cable, Fujitsu Limited, Huawei Technologies Co. Ltd, Molex LLC (Koch Industries Inc), Nexans, Prysmian S.p.A., Sumitomo Electric Wiring Systems Inc. and TE Connectivity
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