Cable Connectors and Adapters Market for IT Applications to Reach US$85.75 bn Globally
Market Research, Cable Connectors and Adapter Market
According to a new market report published by Transparency Market Research “Cable Connectors and Adapters Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022,” The global cable connectors and adapters (used in IT applications) market is estimated to reach a value of USD$85.75 bn by 2022. The market is projected to expand at a CAGR of 9.1% during the forecast period from 2015 to 2022. The cable connectors and adapters market was valued at US$47.78 bn in 2014.
The factors primarily driving the growth of the global cable connectors and adapters market are the increasing demand for high bandwidth in the IT and telecommunication industry and for transmission speed and data volume in data centers. In addition, increasing demand for mobile devices such as smartphones, tablets, and laptops is playing a significant role in the growth of the global cable connectors and adapters market. Furthermore, large-scale production and technological advancements of fiber optics is also driving the growth of the global market.
Cable connectors used for external applications represents the largest segment by revenue, being valued at US$ 39.46 Bn in 2014. However, this segment is expected to see slower growth through the forecast period from 2015 to 2022 with the popularity of wireless technologies in the data sharing applications rising.
Copper and fiber optics are two major raw materials used in the manufacturing of cable connectors and adapters. Cable connectors made up of copper represents the largest segment in terms of revenue. Fiber optics technology is gaining more popularity around the world due to its capacity for high bandwidth, which enables faster data transfer compared to copper connectors. The global fiber optics connectors market was valued at US$ 7.26 Bn in 2014 and is expected to expand at a CAGR of 24.3% through the forecast period from 2015 to 2022.
Browse Market Research report at http://www.transparencymarketresearch.com/cable-connectors-adapters-market.html
Cable Connectors and Adapter Market
, Market Research