Structured cabling market to reach $11.45B by 2021 at 7.1% CAGR: Report
The market for structured cabling components used in commercial sector is predicted to expand at a CAGR of 7.1% from 2015 to 2021.
According to a new report by Transparency Market Research:
"Among the different applications of structured cabling, the commercial segment held the largest market share in 2014, holding 35.0% share approximately. The market for structured cabling components used in commercial sector is predicted to expand at a CAGR of 7.1% from 2015 to 2021.
Increasing demand of Enterprise Resource Planning (ERP) coupled with growing trend of migrating Customer Relationship Management (CRM) to third-party data centers has triggered the need for higher bandwidth in commercial sectors. This in turn is responsible for the huge demand of structured cabling across different commercial sectors which has higher bandwidth and facilitate faster data transmission in comparison to traditional cabling system.
In 2014, the hardware segment held the largest market share among the solution type segment. The hardware segment is primarily driven by the copper cabling segment occupying 59.6% market share. Owing to low installation and maintenance cost copper cable is used extensively across various application segment. Moreover, copper cable has excellent immunity to electromagnetic interference and thus facilitate error free transmission of data. This in turn is also predicted to drive the market of copper cable in the coming years.
However, the fiber cable segment is predicted to be the fastest growing market with a CAGR of 8.0% during the forecast period. Increasing demand for cabling infrastructure that can transmit data over long distance with less attenuation (signal loss) across different application sectors specially, industrial, transport and governmental, is expected to boost the demand of fiber cabling during the forecast period."