Cables and Connector Market is Set to Witness a Massive Influx by 2023

Cables and Connectors Market is expected to garner $125.3 billion by 2022, registering a CAGR of 11.1% from 2016-2022.

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Increasing investments by government to improve connectivity within regions, rising demand for higher bandwidth, heavy investments in military and submarine sectors are expected to drive the growth in global cables and connectors market. Large number of developments have been undertaken by numerous government organizations of various countries including India, China, and Brazil to improve the network infrastructure of their regions.

External cables and connectors segment accounted for about 70% of the overall cables and connectors market revenue in 2015, owing to their higher adoption in electronic devices. These cables and connectors include USB cables and connectors, headphone jack, fiber optic cables, VGA cables, Ethernet cables, and data cables which are used to connect internal cables and connectors. This segment is anticipated to grow at the CAGR 10.4% during the forecast period. Based on regions, Asia-Pacific market dominated the external cables and connectors market in 2015 and is expected to continue its dominance throughout the forecast period, exhibiting the highest CAGR 12.1%. This is due to increasing adoption of external cables and connectors in data centers huge investments in infrastructure, energy and technology development in Asia-Pacific region.

Asia-Pacific is anticipated to dominate the global cables and connectors market during forecast period as governments of emerging markets are taking initiatives towards connectivity within countries; and due to rising demand for high speed cables and connectors in various end user industries. LAMEA is also projected to be one of lucrative markets, exhibiting the second highest CAGR after Asia-Pacific. In this region, external cables and connectors segment accounted for around 70% of total market revenue in 2015. The Middle East region generated the highest revenue in LAMEA cables and connectors market in 2015; and is expected to dominate the market throughout the analysis period.

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Key Findings of Cables and Connectors Market:

Commercial industry vertical which includes sub segments such as IT, telecom & networking, healthcare, business/office and electronics, is estimated to consume major market over the analysis period.

In 2015, external cables and connectors segment led the overall cables and connectors market revenue, and is projected to grow at a CAGR 10.4% during the forecast period.

CAT5/CAT6 cables segment is expected to consume largest share of cables and connectors market due to evolving networking types and demands for high speed and safe connectivity.

Asia-Pacific would lead the market, accounting for over 40% of the market revenue by 2022.

The report outlines the competitive scenario of the global cables & connectors market, providing a comprehensive study of the key strategies adopted by major companies. Key market players profiled in the report are Amphenol Corporation, Molex Inc., Fujitsu Ltd., TE Connectivity Limited, Prysmian S.P.A., 3M Company, Nexans, Huawei Technologies Co. Ltd., Alcatel-Lucent (Nokia Corporation), and Axon Cable S.A.S.

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