High Speed Cable Market to hit $17,110.52 million, Globally, by 2028 at 6.9% CAGR: The Insight Partners
Rising number of internet users worldwide owing to an increasing affordability of internet and connected devices is attributing toward the expansion of global high-speed cable market. The increasing number of internet users are pushing several industries to transform their businesses by installing digital platforms. As per the Statista data, as of January 2021, it is observed that there were 4.66 billion internet users globally and involving 59% of the global population. Countries such as the UAE, Denmark, and Sweden have the highest internet penetration rate. Thus, these factors are positively impacting the high-speed cable market growth.
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Globally, it is observed that there has been a rise in the internet consumption together with the advancement in software solutions, propelling the volume of data generation. The need for storing huge data has pushed organizations to rapidly adopt advanced storage solutions. With the rapid penetration of digitalization, data centers have become an important aspect for economy and modern industry. Moreover, complex cloud computing operations are done by large companies and other research institutions that necessitates data center. Various types of cables such as direct attach cables, active optical cables, and fiber optic cables are majorly used high-speed data cables in data centers. Furthermore, growing emergence of connected devices owing to the declining cost of connective devices and affordable prices of internet connections and services have boosted the demand for data storage. Several big players, such as Amazon Web Services, Equinix Inc, and Digital Realty Trust LP, have invested huge amounts on data centers. Additionally, with the penetration of virtual reality (VR), Internet of Things (IoT), and augmented reality (AR), there is a significant demand in data centers which ultimately leads to rapid adoption of high-speed cables.
On the other hand, susceptibility to physical damage is hindering the growth of the global high-speed cable market.
Based on type, the market is categorized into direct attach copper (DAC) cable, PCle cable, SAS cable, active electrical cable (AEC), active copper cable (ACC), and active optical cable (AOC). It is observed that in 2020, the global high-speed cable market is dominated by the direct attach copper (DAC) cable segment at a share of 32.4% and market evaluated at US$ 3,302.14 million. Furthermore, it is anticipated to account for 27.6% of the total market and would be evaluated at US$ 4,723.98 million by 2028, expanding at a CAGR of 4.8% throughout the forecast period.
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According to application, the market is segmented into switch to switch, server to storage, and switch to server. In 2020, the switch-to-switch segment led the high-speed cable market with a share of 64.3% and market value accounted for US$ 6,549.88 million. Further, the segment is estimated to grow at a CAGR of 6.2% throughout 2020-2028 and would reach US$ 10,475.23 million by 2028.
From regional point of reference, North America controlled the market growth in 2020 with a share of 34.0% and market value at US$ 3,465.60 million. It is estimated to upsurge at US$ 5,527.90 million by 2028 and the CAGR is expected to grow by 6.1% during the forecast period. Meanwhile, Asia Pacific exhibited a rapid growth at CAGR 8.7% over 2020-2028. The region's market value was US$ 3,329.57 million in 2020 and it is projected to be worth US$ 5,977.18 million by 2028.
High Speed Cable Market Analysis: Competitive Landscape and Key Developments
Key players profiled in the global high-speed cable market report are Amphenol ICC, Axon' Cable, Carlisle Interconnect Technologies, HPL, Leoni AG, NVIDIA Corporation, Samtec, Shenzhen Sopto Technology Co Ltd, TE Connectivity, and JPC Connectivity.
In October 2021, Leoni AG signed an agreement with BizLink Holding Inc. on sale of the Business Group Industrial Solutions belonging to the Wire & Cable Solutions (WCS) Division.
In October 2019, Carlisle companies committed to acquire Draka Fileca.
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Contact Person: Sameer Joshi
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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