According to a report from Allied Market Research the global ethernet cable industry was pegged at $7.60 billion in 2018 and is projected to reach $21.36 billion by 2026, registering a Compound Annual Growth Rate (CAGR) of 13.5% from 2019 to 2026.
There are several major reasons for market fluctuations. High speed and low latency of the cable, high reliability and low-security threats, and features like easy installation and connectivity have boosted the growth of the global ethernet cable market.
However, high installation cost and limited physical availability of devices hamper the market but a rise in demand for power over ethernet in industries is expected to create lucrative opportunities in the near future.
The copper cable segment has dominated the market. Based on type, the copper cable segment held the largest share in 2018, contributing to more than half of the global ethernet cable market, owing to its robust design, ease of availability and economical deployment. However, the fibre optic cable segment is projected to register the fastest CAGR of 18.3% during the forecast period, due to its ability to fast transfer data.
The industrial segment to manifest the fastest growth through 2026
By application, the industrial segment is expected to portray the fastest CAGR of 13.1% during the forecast period, due to growth in industrial sector demands for ethernet cable deployment at working sites. Moreover, the commercial segment held the largest share in 2018, accounting for nearly half of the global ethernet cable market, owing to the developed commercial sector among various countries around the globe. The report includes an in-depth analysis of the segments such as residential and commercial.
One region held the lion’s share globally
The global ethernet cable market across North America held the largest share in 2018, accounting for more than one-third of the total revenue, due to technologically developed infrastructure and construction of data centres in the region. However, the market across Asia-Pacific is expected to manifest the fastest CAGR of 16.8% during the forecast period, owing to rising digital trends in the residential, commercial and industrial sectors.
The report, entitled Ethernet Cable Market by Type (Copper Cable and Fibre Optic Cable), Application (Residential, Industrial, and Commercial), and Cable Structure (Shielded Twisted Pair and Unshielded Twisted Pair): Global Opportunity Analysis and Industry Forecast, 2019–2026, can be downloaded at https://www.alliedmarketresearch.com/request-sample/1756.