Cable connectors and adapters are typically used for external as well as internal IT system components. Common uses of these cables include IT infrastructures and consumer electronics products, such as tablets, smartphones, digital cameras, home entertainment devices, and gaming consoles.
The global cable connectors and adapters market is progressing at a highly positive CAGR of 9.10% from 2015 to 2022. By the end of this forecast period, the global cable connectors and adapters market is expected to reach US$85.7 bn, having been valued at US$47.8 bn in 2014. This high progress rate is brought about by a number of driving forces, most likely applied by the top contributors to the market. These key players include General Cable, L-Com Global Connectivity, Amphenol Corp, and TE Connectivity, Ltd.
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Heavy Demand Drives Global Cable Connectors and Adapters Market
The primary driver for the global cable connectors and adapters market is the increasing demand from by IT companies, telecom companies, and individuals for stronger cables that support a larger bandwidth. Most high-end IT data transfer devices are in need of significantly faster cables that support a faster rate of data transfer, even for large volumes of data. There is a similar demand for faster and stronger cable connectors and adapters in the realm of consumer electronics. Consumers are seeking technology that allows faster rates of data transfer and electronic device charging, such as the relatively new technologies of USB 3.1 and USB Type-C connectors.
However, there are certain issues faced by the global cable connectors and adapters market in terms of growth. The biggest concern is the use of wireless technology in consumer technology. Although the largest application segment of the global cable connectors and adapters market in 2014 was the US$39.4-bn externals segment, its market lead is expected to dwindle slowly. The popularity of data sharing through wireless means is on the rise, threatening the growth of the global cable connectors and adapters market.
Fiber Optics Show Highest Growth Prospects
The global cable connectors and adapters market is also driven by the large-scale manufacture of fiber optic cables, aided by consistent research and development efforts aimed at improving fiber optic technology. The global cable connectors and adapters market is currently divided into copper cables and fiber optics in terms of raw materials. Copper cables dominated the market in 2014 on the basis of revenue. Meanwhile, the global fiber optics market is expected to expand at a CAGR of 24.30% between 2015 and 2022. This market was worth US$7.2 bn towards the end of 2014. The fiber optics segment is growing rapidly, as it is the most efficient technology for accomplishing high-bandwidth solutions. In terms of technology, the global cable connectors and adapters market was led by Ethernet connectors in 2014, when they accounted for 61.4% of the market. As for applications, the global cable connectors and adapters market in 2014 was led by computer peripherals and storage devices, with a US$39.25 bn market value.
The leading region in the global cable connectors and adapters market is Asia Pacific, which held 35.30% of the market in 2014. It is also the region with the fastest predicted growth rate. Considered as the future hubs of IT and telecom activities, countries such as India and China are responsible for the growth of the regional as well as the global cable connectors and adapters market.
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