The Global Patch Cable Market to Accumulate $4184.64 Million by 2028
According to Triton Market Research’s report, the global patch cable market, which was valued at $2559.61 million in 2021, is likely to progress with a CAGR of 7.11% by the year 2028.
A recent study by Triton Market Research titled ‘Global Patch Cable Market,’ covers the Global Analysis and Forecast for 2021-2028 by Cable Category (CAT 3, CAT 5, CAT 5E, CAT 6, CAT 6A, CAT 7, RG6, Multimode Optical Fiber, Others), End-user (IT & Network Security, Enterprise, Industrial, Others), Application (Networking, Non-networking), Product Type (Fiber Optics, Copper Cable), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
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Triton’s analysis on the global patch cable market puts forth that the industry would accumulate a revenue of $4184.64 million by 2028, while progressing with 7.11% of CAGR over the forecasting duration from 2022 to 2028.
5G technology is emerging due to the rising demand for faster and more efficient connectivity. And, even though 5G is a wireless technology, deploying it successfully requires a lot more fiber and copper cables to connect equipment. This is offering lucrative growth opportunities for the patch cable market.
However, the installation of patch cables is a difficult task. Factors like the environment, business perspective, development of the area, and population density need to be considered for this process, which incurs high costs. The high cost required to install patch cables thus majorly hampers the market’s growth.
The market for patch cable is primarily divided into cable category, end-user, application, and product type. Based on cable category, it includes CAT 3, CAT 5, CAT 5E, CAT 6, CAT 6A, CAT 7, RG6, multimode optical fiber, and others. Whereas, on the basis of end-user, it consists of IT & network security, enterprise, industrial, and others. According to the application, it is bifurcated into networking and non-networking. Lastly, according to product type, it is categorized into fiber optics and copper cable.
It is projected that in the coming years, the patch cable market in Asia-Pacific would develop at the quickest rate in the world. Due to the rising use of technology in the IT and telecommunications industries as well as the ongoing improvements in technology, this region presents a market with enormous growth potential. In addition, the biggest patch cable market in Asia is in China, a major hub for manufacturing worldwide. As a result, producers are increasingly considering the Asia-Pacific region to be a profitable market for patch cables.
Commscope, FScom, Black Box Corporation, Prysmian Group, CP Technologies, Belden, Panduit Corp, Comnen, Quabbin Wire & Cable Co Inc, Otscable, Corning Incorporated, Major Custom Cable, Cable Master, Schneider Electric, and Legrand LLC are some of the leading names present in the patch cable market.
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Question & Answer: Patch Cable Market
Question 1: What factor is offering lucrative growth opportunities for the patch cable market?
Answer: 5G technology is emerging due to the rising demand for faster and more efficient connectivity. And, even though 5G is a wireless technology, deploying it successfully requires a lot more fiber and copper cables to connect equipment. This is offering lucrative growth opportunities for the patch cable market.
Question 2: What factor majorly hampers the patch cable market’s growth?
Answer: The installation of patch cables is a difficult task. Factors like the environment, business perspective, development of the area, and population density need to be considered for this process, which incurs high costs. The high cost required to install patch cables thus majorly hampers the market’s growth.
Question 3: How is the Asia-Pacific region influencing the growth of the patch cable market?
Answer: The Asia-Pacific is anticipated to become the fastest-growing market for patch cable globally in the forecasting years. This region is a market area with incredible growth opportunities, which can be attributed to the growing technological advancements and a rapid acceptance of technology in the administrative and IT & telecommunication sectors. Also, China, which is a global manufacturing hub, is the largest market for patch cables in
the APAC. Therefore, manufacturers are now looking at the Asia-Pacific as a lucrative market for patch cables.
Question 4: Which are some of the leading names present in the patch cable market?
Answer: Commscope, FScom, Black Box Corporation, Prysmian Group, CP Technologies, Belden, Panduit Corp, Comnen, Quabbin Wire & Cable Co Inc, Otscable, Corning Incorporated, Major Custom Cable, Cable Master, Schneider Electric, and Legrand LLC are some of the leading names present in the patch cable market.
Related Report:
Global Optical Communication and Network Equipment Market
The global market for optical communication and network equipment is predicted to augment with a CAGR of 7.06% in the forecast years from 2021 to 2028. It has been estimated to reap a revenue of $23.57 billion by 2028.
Optical communication systems are used for transmitting information optically via fibers, which are considered the best equipment for this purpose. These systems have been evolving to accommodate vast information data that needs to be transmitted over point-topoint or even meshed networks.
Optical communication networks support a broad range of valuable communication services, such as enterprise services, mobile services, and residential services. The 5th-generation (5G) wireless technology brings to optical networks new requirements like accurate synchronization, low latency, high bandwidth, and the ability to perform autonomous operation & network slicing, among others. These factors are driving the transformation of optical networks to a new generation.
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