Product ID: SQMIG45I2157
Global Cables and Connector Market Size, Share, Growth Analysis, By Application(IT & Telecom, Automotive/Transportation), By Type(USB cables, Ethernet cables) - Industry Forecast 2024-2031
Report ID:
SQMIG45I2157 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
68 |
Figures:
75
Global Cables and Connector Market Insights
Global Cables and Connector Market size was valued at USD 67.20 billion in 2022 and is poised to grow from USD 69.73 billion in 2023 to USD 93.68 billion by 2031, at a CAGR of 3.76% during the forecast period (2024- 2031).
Increasing digitization around the world is driving up the demand for high-speed internet and electricity, which is projected to primarily bolster sales of cables and connectors over the coming years. Expansion of the telecommunications sector, the rising proliferation of consumer electronics, and the advent of advanced technologies like 5G and IoT are also slated to boost market growth in the future. The increasing popularity of the work-from-home trend and rising adoption of cloud-based systems is also slated to benefit demand for cables and connectors in the long run. Advancements in the design and technology of new cables and connectors are also slated to create new opportunities for cables and connector market players. However, the high costs of advanced cables and connectors and the rising popularity of wireless technologies are projected to impede cables and connector market growth across the forecast period. High proliferation of digital technologies in different industry verticals is slated to open up new avenues of opportunities for cables and connector companies in the long run.
Global Cables and Connector Market Report Snapshots
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