Ethernet Cable Market is Projected to Reach $29.23 Billion by 2030, at a CAGR of 11.3%
15 March, 2023
According to a new report published by Allied Market Research, 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, 2030” the ethernet cable market size was valued at $10.49 billion in 2020, and is projected to reach $29.23 billion by 2030, registering a CAGR of 11.3%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by LAMEA and Europe.
The key players profiled in the report include 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, and Schneider Electric S.E. These players have adopted various strategies such as partnership, acquisition, and product launch to strengthen their foothold in the industry.
Growth of the global ethernet cable market size is anticipated to be driven by factors such as a surge in demand for high-speed internet facilities, an increase in the application of automation across industries, and the reliable performance of ethernet cables. In addition, rapid urbanization in developing economies leads to an increase in data consumption, which propels overall market growth. However, high initial cost acts as a major restraint for the global ethernet cable industry. On the contrary, the surge in demand for ethernet cable from the industrial sector is expected to create lucrative opportunities for the ethernet cable market players during the forecast period.
The report offers an insightful analysis of the Ethernet Cable Market 2023-2031 based on revenue size, share, sales estimation, and key drivers. The report also includes detailed statistics on the opportunities, restraints, and drivers that have a direct impact on market growth.
The study highlights the plans and policies adopted by the topmost industry players to maintain their position in the Ethernet Cable Market by making them operational players in that sector. The market leaders have been carefully evaluated based on their revenue size, service/product portfolio, regional presence, important plans & policies, and overall market growth contribution. The primary research contains a thorough and exhaustive discussion with a global participant, while the secondary research includes a large volume of product or service descriptions.
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Source: www.einpresswire.com