North America Patch Cable Market to Reach $2.39 Bn by 2025 at 12.3% CAGR: Allied Market Research
Increase in demand for high-speed connectivity along with technological advancements in cables drive the growth in the North America patch cable market
PORTLAND, Oregon, May 7, 2019 /PRNewswire/ --Allied Market Research published a report, titled, "North America Patch Cable Market by Product Type (Copper Cable and Fiber Optic), Cable Category (CAT3, CAT5, CAT5E, CAT6, CAT6A, CAT7, Multimode Optical Fiber, RG6, and Others), Application (Networking and Non-Networking), and End Use (Industrial, Enterprise, Broadcast, IT & Network Security, and Others): Opportunity Analysis and Industry Forecast, 2017–2025." According to the report, the North America patch cable market garnered $871.9 million in 2017, and is expected to garner $2.39 billion by 2025, registering a CAGR of 12.3% from 2018 to 2025.
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Surge in demand for high-speed connectivity and advancements in cable technology drive the growth in the market. However, negatively impacting some aspects of Internet-of-things (IoT) in the region hinders the growth up to a certain extent. On the other hand, development of data centers and advent of 5G revolution create lucrative opportunities for the market growth.
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Copper cable to maintain its dominant position throughout the forecast period
Copper cable accounted for more than half of the total market share in 2017 and will maintain its dominant position throughout the forecast period. This is attributed to its usefulness in power distribution, telecommunications, and other applications. However, the fiber optic segment would register the highest growth rate with a CAGR of 15.7% from 2018 to 2025, owing surge in usage in telecommunication and computer networking.
CAT 6 segment to hold the lion's share in terms of revenue
Based on cable category, the CAT 6 segment held the lion's share in terms of revenue in 2017, contributing more than one-fourth of the total share. This is due to high-end optimized performance offered by it. However, the CAT 7 segment would register the fastest CAGR of 26.8% from 2018 to 2025, owing to enhanced performance offered by these cables for high speeds and bandwidths.
The networking segment to be lucrative
The networking segment is estimated to register the highest growth rate with a CAGR of 12.7% from 2018 to 2025. Moreover, the non-networking segment accounted for more than four-fifths of the total share in 2017 and will maintain its lead throughout the forecast period. This is due to its efficiency over the short distances. The research also analyzes the non-networking segment.
The U.S. to continue its dominance in terms of revenue by 2025
Based on countries, the U.S. held the highest share of market in 2017, contributing for more than three-fourths of the total market share. It is expected to continue its dominance in terms of revenue by 2025. This is due to ease in accessibility to various data centers. However, Canada is estimated to grow at the highest CAGR of 14.9% from 2018 to 2025, owing to rise in investments in the cable manufacturing industry in the country.
Leading Market Players
The key market players analyzed in the research include Black Box, Corning, CommScope, General Cable, CP Technologies, Major Custom Cable Inc., Legrand North America LLC, Quabbin Wire & Cable Corporation, Panduit Corp., and Schneider Electric.
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