Cables Market Expected to Reach $156.5 Billion by 2030—Allied Market Research
“The global cables market share is expected to witness considerable growth, owing to increase in demand
for cables in Internet of Things solutions, especially in Asia-Pacific and Eur0pe, due to rise in demand for
digital infrastructure solution in these regions..”
Tanumoy Upadhaya - Analyst
Semiconductor and Electronics at Allied Market Research
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Key Findings of the Study:
• In 2020, the overhead segment accounted for maximum revenue, and is projected to grow at a
notable CAGR of 6.9% during the forecast period.
• The low segment was the highest revenue contributor to the market in2020, and is estimated to
grow with a CAGR of 5.6% during the forecasted period.
• The IT and telecommunication segment is projected to growth at a CAGR of 5.6% during the
forecast period.
• Asia-Pacific contributed for the major share in the cables market, accounting for more than
41.45% share in 2020.
Major Key Players Profiled in the Report:
1. KEI Industries,
2. General Cable,
3. Huawei Technologies,
4. Furukawa,
5. Nexans,
6. ABB,
7. Axon Cable,
8. Polycab,
9. Sumitomo Electric Wiring Systems,
Market Dynamics:
Drivers:
• Increased demand of electron cable in semiconductor & microelectronics.
• Adoption of electron microscopy in the field of healthcare and life-science.
• Rise in demand due to advancement in electron cable.
Restraint:
• High initial investment.
Opportunity:
• Increased R&D activities in the automotive sector.
Report Overview: https://www.alliedmarketresearch.com/cables-market-A16414
Cables play an integral part in the integration of various systems & sub-systems among various industry
verticals. The demand for reliable connectivity, high performance communicating channels, and efficiency
in transferring data by various enterprise boosts the growth of the cables & connectors market. Highperformance networks are essential for business, manufacturing, transportation, education, media, and
security. Cables help to ensure that data infrastructure performs flawlessly for its users at different times
and multiple locations. Advancements such as high-definition video and multi-channel audio in the IT and
electronics market drives the growth of the cables market in this industry. Moreover, oil & gas companies
are looking toward fiber optics for improving operational performance and accuracy, which is expected
to provide lucrative opportunity for the market..
The growth of the global cables market size is majorly driven by rise in numbers of high-throughput
satellites (HTS) globally paired with growing need for enriched high-speed data communication. Further,
growing demand for satellite communication in Internet of Things (IoT) is anticipated to drive the growth
of cables However, Ambiguity in regulatory framework pertaining to satellite communication protocols
and standards are acting as a prime restraint of the global market. On the contrary, rise in development
of satellite network to offer internet across in remote areas is anticipated to provide lucrative
opportunities for the cables industry during the forecast period.
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