[FURL=https://www.industryarc.com/Research/Cables-And-Connectors-Market-Research-505362?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Cables and Connectors market[/FURL] is expected to reach $161.9 billion by 2025 at a CAGR of 10.3% during the forecast period 2020-2025. Increasing expenditure by the IT and telecom services to meet consumer demand drives the market growth. In addition, the growing number of fixed broadband connections over the years has enabled the growth of the market studied. According to ITU, the number of global fixed broadband subscriptions increased by 9% annually in the last five years. Moreover, growing number of data centers and increasing demand for higher bandwidth is the major driving factor behind the huge demand for cables and connectors worldwide in the forecast period 2020-2025.Key Takeaways
Asia-Pacific dominated the market by a market share of more than 34% in 2019 due to the rising demand of high-speed cables and connectors along with increasing investments in infrastructure development in countries such as India and China.
USB cable and connector is growing at a highest CAGR of 14.5% in the forecast period owing to the increase in demand for digital data storage and the emergence of USB 3.0, 3.1 and 4.0 standards for high-speed data transfer.
Connectors and Cables in Automotive sector is growing at a CAGR of 13.8% in the forecast period owing to the growing applications of cables and connectors power, signal, data transfer and other application.
Cables and Connectors top 10 companies include Alcatel-Lucent, Amphenol Corp., Axon Cable, Esterline Technologies Corp., Fujitsu, Huawei Technologies Co. Ltd., Molex, Inc., Nexans S.A., Prysmian Group, TE Connectivity Ltd., among others.
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Cables and Connectors Market Drivers
Surge in demand for higher bandwidth cables & connectors among different industries
There is a significant demand for high bandwidth in the telecom industry, cloud applications, TV-on-demand, video services, and online gaming. Wired transmission connection offers greater bandwidth, enhanced reliability & agility, and improved security in comparison to wireless communication.
Cables and Connectors top 10 companies include Alcatel-Lucent, Amphenol Corp., Axon Cable, Esterline Technologies Corp., Fujitsu, Huawei Technologies Co. Ltd., Molex, Inc., Nexans S.A., Prysmian Group, TE Connectivity Ltd.,
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