The global Ethernet cable market is anticipated to reach USD 1.42 billion by 2024. Growing consumer demand for high-speed internet connectivity and data center installations activities are the key factors which are expected to boost the market over the forecast period. Furthermore, increasing growth of IT sector is expected to fuel the demand for Ethernet cables on the global level.
Companies are heavily investing in R&D to boost up their manufacturing capacity of the Ethernet cables. For instance, in 2008, General Cable Corp. acquired Isotec Inc. and its affiliate, Gepco, for approximately USD 46 million to boost cabling products for the broadcast and entertainment industries. Power over Ethernet was a new concept which is capable of powering remote device and eliminating separate power cable along with high-efficiency network transfer.
Copper cable contributed the highest revenue share in 2016. Furthermore, it was extensively used owing to its high strength and high-speed connectivity. Increasing use of the product in industrial applications coupled with the shift from manual to digital in the sector is anticipated to fuel its growth over the projected period.
Initiatives taken by companies such as Belden Inc., SAB Bröckskes, and General Cable Technologies Corporation to use efficient materials for high-speed continuous data transfer and high durability are expected to boost the market over the forecast period. Benefits associated with fiber optic cables such as efficiency, long distance uninterrupted connections and growing demand for high-speed internet is anticipated to increase the market over the forecast period.
Asia Pacific held the major share accounting for 35.6% of the total revenue share in 2016 due to increase in demand for high-speed internet, increasing automation in industries, and reliable performance of Ethernet cable. Furthermore, China has the highest demand for fiber optics within Asia Pacific which is expected to fuel the market growth over the forecast period.
Key players within the global industry are Belden Inc., Siemon, SAB Bröckskes, Nexans, Rockwell Automation, Hitachi Ltd, Prysmian Group, Schneider Electric, Anixter Inc and General Cable Technologies Corporation. These companies are focusing on R&D to manufacture products that can transmit faster speed internet over longer distances.
NEWS PROVIDED BY ReportBuyer