The cable connector market is expected to register a CAGR of 5.67%, during the forecast period (2018 - 2023). The scope of the report includes different end-user industries, such as IT and Telecom, Construction, and Energy and Utility.
Adoption of wireless technologies, such as Wi-Fi, RF, and Bluetooth, in future, will consume a considerable chunk of the cables and connectors, thus paving the way for this market to increase. Increasing penetration of technologies, such as the Internet of Things (IoT), is expected to aid the increase in demand for high-performance and secure data connectivity and transmission, which in turn, may increase the demand for cable connectors. According to the National Cable and Telecommunications Association, the number of connected devices is expected to reach 50.1 billion, by 2020.
Many developments have been undertaken by government organizations in developing countries, such as India, China, and Brazil, to improve network infrastructure. Such initiatives are increasing the demand for high-speed data transmission cables connectors. For instance, the Chinese government proposed that the country should actively promote 5G development and launch the technology by 2020, which in turn, involves the development of communication infrastructure. This is expected to increase the need for better cable connectors and other equipment for its installation purpose. However, issues related to volatile prices of raw materials are estimated to challenge growth in the cable connector market.
The energy and utility segment is expected to expand significantly, over the forecast period, due to the increase in demand for electro-mechanical equipment in this industry. Cable connectors used in this industry have to have a high-performance capability as most of the processes require efficient extraction of natural resources. Thus, the increasing demand for cable connectors, to achieve better control, monitoring, and instrumentation of processes in the oil and gas industry, is driving the use of cable connectors in this market.
Asia-Pacific is expected to occupy the largest share of the cable communicator market and expand at a substantial rate, over the forecast period, due to the increasing focus on energy management and technological advancements. Increasing data center services in Asia-Pacific, due to a large number of multinational and domestic enterprises turning toward Cloud Services Providers (CSPs) and colocation solutions, is increasing the need for cable connectors in this region.
Major firms, such as Google, are also planning to open their data centers in China for their growing businesses, mainly, due to the low manufacturing and labor costs. Apart from China, other countries, such as Japan, are especially having their primary colocation markets in Tokyo, Osaka, and Nagoya and Indonesia, which are expected to stand as one of the leaders in data center services market, thus promoting the need for cable connectors market.
· Jun 2018: Triton Knoll signed an agreement with a UK firm, J Murphy & Sons Ltd, to work on the design and installation of substation and cable circuits of an 860MW innogy project.
Cable Connector Market Major Players: Amphenol Corporation, Fujitsu Limited, Nexans SA, TE Connectivity Limited, and 3M Company, among others.
· Analyzing advancements in the cable connector market
· Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis
· Identifying the type of service and end user that is expected to dominate the market
· Identifying the regions that are expected to witness the fastest growth, during the forecast period
· Identify the latest developments, market shares, and strategies employed by major market players
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