IMARC Group, a leading market research company, has released a report titled “Cables and Connectors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global cables and connectors market size reached US$ 99.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 131.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Cables are multiple wires or conductors bundled together that provide a pathway for the transmission of data or electrical current. On the other hand, connectors serve as an interface between cables and devices to facilitate a seamless connection and disconnection of various equipment and systems. Cables and connectors both are essential components of modern technology that help in establishing connectivity and transmitting data and power between devices. They are physical mediums that support the transfer of information, electrical signals, and energy.
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Cables and Connectors Market Trends and Drivers:
Due to rapid digital transformation, organizations are increasingly adopting transformative technologies, such as 5G, Internet of Things (IoT), and cloud computing, to meet the growing requirement for reliable connectivity infrastructure and support the seamless transfer of large volumes of data and ensure uninterrupted operations. This represents one of the key factors impelling the growth of the market. Furthermore, there is a rise in the sales of electric vehicles (EVs) and autonomous driving systems, which is necessitating the deployment of specialized cables and connectors that are capable of handling higher voltages, power transmission efficiency, and advanced communication protocols. Additionally, there is an increase in the demand for advanced medical devices and diagnostic equipment in the healthcare sector. This, coupled with the increasing adoption of telemedicine and remote patient monitoring solutions, is driving the demand for reliable connectivity solutions in the healthcare sector. Moreover, the ongoing trend of miniaturization and lightweight design in consumer electronics, such as smartphones, tablets, and wearable devices, is propelling the market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Internal Cables and Connectors
- External Cables and Connectors
Breakup by Installation Type:
- HDMI
- USB
- VGA
- DVI
- CAT5/CAT6
- Others
Breakup by Vertical:
- Automotive
- Commercial
- Oil and Gas
- Energy and Power
- Aerospace and Defense
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 3M Company
- Amphenol Corporation
- Axon’ Cable
- Fujitsu Limited
- Huawei Technologies Co. Ltd
- Molex LLC (Koch Industries Inc)
- Nexans
- Prysmian S.p.A.
- Sumitomo Electric Wiring Systems Inc.
- TE Connectivity.
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