Surge in demand for high speed & low latency technology, high reliability, easy installation & connection feature offered by ethernet cable drive the growth of the global ethernet cable market
PORTLAND, Ore., Feb. 28, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Ethernet Cable Market by Type (Copper Cable and Fiber Optic Cable), Cable Type (Unshielded Twisted Pair and Shielded Twisted Pair), Cable Category (CAT 5E, CAT 6, CAT 6A, CAT 7, CAT 8, and Others), and Application (Residential, Industrial, and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global ethernet cable industry generated $10.4 billion in 2020, and is anticipated to generate $29.2 billion by 2030, witnessing a CAGR of 11.3% from 2021 to 2030.
Prime determinants of growth
Surge in demand for high speed & low latency technology, high reliability, easy installation & connection feature offered by ethernet cable drive the growth of the global ethernet cable market. However, high installation cost and limited physical availability for devices hinder the market growth. On the other hand, rise in demand for power over ethernet (PoE) in industries presents new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic had hampered the growth of the global ethernet cable market to a significant extent.
- The global lockdown halted the production facilities of electronics industry and disrupted the supply chain.
- However, the market is going to recover soon by the first quarter of 2022
The cat 7 segment to maintain its leadership status throughout the forecast period
Based on cable category, the cat 7 segment held the highest market share in 2020, accounting for more than one fourth of the global ethernet cable market, and is estimated to maintain its leadership status throughout the forecast period. This is because ultra-reliable cables support the growing demand for high-performance networking. Moreover, the cat 8 segment is projected to manifest the highest CAGR of 22.7% from 2021 to 2030. Cat8 is the fastest Ethernet cable yet. Its data transfer speed of up to 40 Gbps is four times faster than Cat6a, while its support of bandwidth up to 2 GHz and reduces latency for superior signal quality. These factors are boosting the growth of the segment.
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The commercial segment to maintain its lead position during the forecast period
Based on application, the commercial segment accounted for the largest share in 2020, contributing to nearly half of the global ethernet cable market, and is projected to maintain its lead position during the forecast period. This is because commercial sectors require high speed network, broad bandwidth, and low latency for transfer of data between devices. However, the industrial segment is expected to portray the largest CAGR of 13.2% from 2021 to 2030. In various industries, the ethernet cables are used to control and transmit data among various machines and systems. The ethernet used in an industrial setting often requires more strong connectors, cables, and better performance in harsh conditions. These factors sequentially boost the segment.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global ethernet cable market. Advancements in Ethernet cables, which provides high data rate, broad bandwidth contribute toward the growth of the North America Ethernet cable market. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 13.7% during the forecast period. Increased adoption of digital multimedia devices has been witnessed in the growing economies of Asia-Pacific such as India and China. This in turn propels the demand for ethernet cables in residential and industrial applications.
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Leading Market Players
- Belden Inc.
- Prysmian Group
- Leviton Manufacturing Co. Inc.
- The Siemon Company
- SAB Brockskes GmbH & Co. KG
- Nexans S.A.
- Southwire Company LLC
- Hitachi Ltd.
- SIEMENS AG
- Schneider Electric S.E.
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