AV Cables for Residential Market to See Continuous Growth of 7.7% CAGR from 2019 to 2026

AV cables are the connecting components, which are used in multimedia devices for communication of audio and video signals. The cables either provide electrical, optical, or digital modes of transfer. Most of these cables have an outer shield to transfer data without loss and are designed to carry maximum bandwidth with higher transfer rate.

The demand for AV cables in the residential sector is expected to increase rapidly during the forecast period, owing to various factors such as surge in usage of audio video devices, increase in demand for 4K/UHD televisions, and rise in penetration of miniature multimedia devices. The market for AV cables in residential sector is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities.

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According to a new report published by Allied Market Research, titled, "AV Cables for Residential Market by Type, Component, and Cable Category: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global AV cables for residential market size was valued at $273.0 million in 2018, and is projected to reach $502.1 million by 2026, growing at a CAGR of 7.7% from 2019 to 2026. The HDMI segment contributed nearly 30% share in 2018.

Nonetheless, advancements in HDMI cable for higher bandwidth applications coupled with display technology and growth in the multimedia & entertainment industry in emerging economies is projected to offer remunerative opportunities for the AV cables for residential market. The most commonly used HDMI version is HDMI 2.0a and HDMI 2.0b. The ports are a higher variant of HDMI 2.0, which offers advanced display technology called High Dynamic Range.

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Moreover, the emergence of media & entertainment industry has resulted in greater penetration of TVs and Cable TV network to households. Broadcasting channels provide information to consumers across different regions in different languages, which increases the demand for TVs and subscription for cable TV channels.

In 2019, the HDMI cable segment contributed over a 30% share in the AV cables for residential market and is expected to maintain its dominant position throughout the analysis period. Among the components such as connectors and adapters used with AV cables, the connectors secured highest share in 2018. However, adapters are expected to showcase highest growth rate during the forecast period, owing to increase in demand for convertible solutions. Moreover, North America is the major revenue contributor, owing to advancements in AV cables for use in latest display technologies such as 4K, 8K, and others.

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Region-wise, the global AV cables for residential market trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, North America accounted for 35.7% of the total market revenue and is expected to retain its dominant position. However, the Asia-Pacific region is expected to grow at the highest CAGR, owing to advancements in these multimedia devices and rise in purchasing capacity have led to their further adoption in the region, followed by huge population base.

The major companies profiled in the AV cables for residential market report include Amphenol Corporation, AV Supply group, Black Box Corporation, Belden Inc., Commscope, Foxconn Technology Group (Belkin), LEGRAND SA, Nexans, WESCO International (Liberty AV), and Prysmian Group. The report also includes profiles of some distributors including Extron, and Eurocables.

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Key Finding of The AV Cables for Residential Market:

In terms of revenue, HDMI contributed the maximum AV cables for residential market share in 2018, and is expected to maintain its lead throughout the forecast period.

Adapters are expected to grow at the highest CAGR during the forecast period.

In 2019, the coaxial cables segment held nearly two-fifths of AV cables for the residential market share, which was the highest among all cable categories.

In 2019, North America accounted for over a 35% share globally, and is expected to dominate the AV cables for residential market forecast.

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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.

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