Increase in usage of audio video device, rise in demand for 4K/UHD televisions, and surge in penetration of miniature multimedia devices drive the growth of the global AV cables for residential market
PORTLAND, Oregon, Oct. 3, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "AV Cables for Residential Market by Type (HDMI, RCA, DVI, VGA, and Others), Components (Connectors and Adapters), and Cable Category (Copper Cable, Fiber Optic, and Coaxial Cable): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global AV cables for residential industry was pegged at $273.0 billion in 2018 and is projected to reach $502.1 billion by 2026, registering a CAGR of 7.7% during the forecast period.
Major motives for market growth
Rise in usage of audio video device, increase in demand for 4K/UHD televisions, and increase in penetration of miniature multimedia devices have boosted the growth of the global AV cables for residential market. However, growth in adoption of wireless streaming platforms hampers the market growth. On the contrary, advancements in HDMI cable for higher bandwidth applications coupled with display technology and surge in multimedia & entertainment industry are expected to create lucrative opportunities in the near future.
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HDMI segment to reap highest revenue
The HDMI segment held the largest share in 2018, accounting for more than one-fourth of the global AV cables for residential market. Moreover, the segment is projected to register the fastest CAGR of 9.8% during the forecast period, owing to increase in HDMI ports in the AV devices. The report also analyzes other segments such as RCA, VGA, DVI, and others.
Fiber optics segment to manifest fastest CAGR by 2026
The fiber optics segment is estimated to portray the fastest CAGR of 8.9% during the study period, owing to fastest rate of data transfer of fiber cables. However, the coaxial cable segment held the largest share in 2018, contributing two-fifths of the global AV cables for residential market, owing to its affordable price and robust design, which is suitable for harsh environment.
Connectors segment held the largest share
The connector segment dominated the market in 2018, contributing more than nearly three-fifths of the market. However, the adaptor segment is estimated to register the fastest CAGR of 10.3% during the forecast period, owing to rise the demand for adapters.
North America dominated the market
The market across North America held the largest share in 2018, contributing more than one-third of the market, owing to the increased application of advanced AV devices in developed residential infrastructure. However, the global AV cables for residential market across Asia-Pacific region is projected to register the fastest CAGR of 10.2% during the forecast period.
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Major market player
- Amphenol Corporation
- AV Supply group
- Black Box Corporation
- Belden Inc.
- Foxconn Technology Group (Belkin)
- LEGRAND SA
- WESCO International (Liberty AV)
- Prysmian Group
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SOURCE Allied Market Research