With the rising demand for higher bandwidth, the global structured cabling market is set to reach $9.6 billion by 2030, from $7.4 billion in 2019, growing with a 3.9% CAGR between 2020 and 2030, according to P&S Intelligence. With a rise in the number of people using the internet, the need for higher bandwidth is increasing. Moreover, the usage of data-intensive applications, such as internet protocol (IP)-based video conferencing, voice over IP (VoIP), and digital audio and video, is also pushing up the demand for bandwidth.
To enable such applications, companies are rapidly upgrading their infrastructure with structured cabling, which can handle such high bandwidths. In addition, the structured cabling market is also benefitting from the increasing focus of telecommunications, commercial, government, and industrial sectors on modernizing their IT setup.
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The coronavirus pandemic is proving to be a bane for the structured cabling market, as the focus of people has shifted from IT to the healthcare sector, which has led to a reduction in the investments for the upgradation of the IT infrastructure. In addition, the manufacturing of the various components of a structured cabling system has taken a hit, due to the shutdown of manufacturing facilities.
Structured Cabling Market Segmentation Analysis
During the next decade, the highest CAGR in the structured cabling market, of 6.1%, will be witnessed by the fiber cable category, under the product segment. This would be a result of the rising requirement for low signal attenuation, high signal bandwidth, reliable networking, and high network security around the world, which is provided by such wires.
Category 7 wires, under segmentation by wire category, is projected to grow the fastest in the structured cabling market in the immediate future, as the demand for VoIP telephony, multi-gigabit ethernet, and video conferencing is rising. This mandates the use of higher-category cables, which are capable of carrying the huge volumes of data required for these abovementioned applications.
Till now, the local area network (LAN) bifurcation, based on application, has dominated the structured cabling market, as LANs are widely used in small premises, such as office complexes and homes. With the use of structured cabling, LAN becomes more efficient and supports data-intensive internet voice and video applications.
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The telecommunication classification, on the basis of end use, held the largest share in the structured cabling market in the past. This is attributed to the increasing penetration of the internet and growing demand for high-speed connectivity in developing countries. In the telecom sector, structured cabling is widely deployed in cell phone towers and the network infrastructure of service providers. Only once they have the high-speed-internet-supporting infrastructure with them, will they be able to offer the same services to customers, which is why telecom firms are rapidly implementing structured cabling.
Asia-Pacific (APAC) is the largest structured cabling market presently, and it is also expected to witness the fastest growth in the years to come. This is because of the increasing construction of data centers and surging requirement for high-speed internet connection. The rapid deployment of 4G and 5G, especially in Japan, China, and South Korea, is further expected to push up the demand for structured cabling. In addition, the IT industry of India, China, Japan, and South Korea is expanding, and the booming population here is consuming a rising amount of data, thereby propelling the industry growth.
Market Players Introducing New Products for Higher Revenue
Players in the structured cabling market are engaging in product launches, in a bid to augment their revenue and expand their customer pool.
For instance, in March 2018, the RocketRibbon extreme-density cable was launched by Corning Incorporated, for carrier and data center environments. Using this cable, operators can install a higher capacity in a given duct space faster, by accommodating increased bandwidth control.
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In the same vein, Belden Incorporated launched the Enterprise Closet X (ECX), FiberExpress (FX), and Splitter Kits connectivity and cable solutions in March 2018. These products do away with the low-voltage wiring 2285P (for plenum applications), spider-leg cabling, and 2285R (for riser applications) color-coded (violet and grey) wiring, rated for 0–10 V LED applications and ballast connections.
The major companies in the global structured cabling market are ABB Group, Schneider Electric SE, Corning Inc., CommScope Inc., Nexans S.A., Panduit Corp., Belden Inc., TE Connectivity Ltd., Siemon Company, Furukawa Electric Co. Ltd., and Legrand SA.
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India Structured Cabling Market
The southern region held the largest share in the structured cabling market of India in 2019, and it is expected to remain dominant during the forecast period. This can be attributed to the existence of large IT hubs in cities such as Bengaluru, Chennai, and Hyderabad. Further, the rapid adoption of structured cabling by enterprises, emergence of the internet of things (IoT) technology, rising demand for higher bandwidth, and swift digitization are resulting in the notable market growth in the region.
Optical Networking and Communication Market
Asia-Pacific led the optical networking and communication market in 2019. Technological advancements and their large-scale adoption in the information technology (IT) and telecommunication sector are spearheading the growth of the APAC optical networking and communication industry. In addition, the growing application of fiber optics in the medical sector and surging government investments to enhance the security infrastructure in developing countries (e.g. India and China) are strengthening the market landscape in APAC.