Rapidly rising demand for higher network bandwidth coupled with remarkable penetration of 5G technology has skyrocketed the popularity of structured cabling significantly in the past years. Structured cabling is highly supportive for future upgrades, and has the perks of reduced installation time, cabling bulk, and congestion. As such, demand for structured cabling from the IT & telecommunication, commercial, industrial, and other industries is surging. According to Fact.MR, the global structured cabling market is forecast to expand at an impressive CAGR of over 7% through 2031.
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According to the European Commission (EC), the international cableways industry is dominated by EU companies, which account for 90% of the industry worldwide. While 5G deployments are widening the scope for structured cabling manufacturers, steady growth of the IT& telecommunication industry is further fueling the sales of suppliers. As per the report “U.S. Telecom Industry Metrics & Trends 2020” published by the United States Telecommunication Organization, targeted government financial support for broadband and favorable regulatory policies have encouraged more than US$ 1.7 trillion investment from 1996 to 2020, which is rising steadily, creating new scope and opportunities. As key industries are projected to exhibit promising growth, structured cabling manufactures are optimistic about increasing their sales footprint over the coming years.
Key Takeaways from Structured Cabling Market Study
The global market for structured cabling registered a growth of around 7% in 2020-2021, and will sustain this healthy pace over the coming years.
Hardware structured cabling solutions are anticipated to drive the market, holding around three-fourth market share.
The IT & telecommunication industry remains the leading vertical for the structured cabling manufacturers, with a projected share of around 43% through 2031.
The United States, the epicenter of the largest structured cabling market of North America, will remain in the spotlight, accounting for close to 90% share of this attractive regional market.
The United Kingdom and France will remain at the forefront across the structured cabling market in Europe, with over one-third of demand share.
APEJ (Asia Pacific excluding Japan) will emerge as another lucrative market for structured cabling, and will register the highest growth over the next ten years. China will account for around one-third of the demand in APEJ.
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“With the datacenter industry being on an upward trajectory, requirement for managing large volumes of data has grown rapidly over the past decade. Backed by heavy investments and emergence of modular centers, future of the structured cabling market is highly lucrative,” says a Fact.MR analyst.
Surge in Demand from Industrial Sectors Bolstering Growth
Structured cabling is widely used in industrial Internet of Things (IoT), as it is highly effective in providing end-to-end network connectivity while streamlining the operational environment. With fast growth of industrial IoT, structured cabling manufacturers are forecast to experience surge in demand over the coming years.
As per a report published by the Inter-American Development Bank (IDB), the global industrial IoT sector is growing fast to reach at 41.6 billion connected IoT devices generating 79.4 zettabytes (ZB) of data in 2025, while worldwide total spending on IoT is forecast to surpass US$ 1 trillion by 2022. These statistics indicate huge scope for structured cabling manufacturers over the coming years.
Who is Winning?
The structured cabling market offers a strictly competitive environment. In order to tap most of the market potential, key players are diversifying their products.
For instance,
Lehgrand SA launched its extensive range of structured cabling management and solutions, such as Optic Fibre Ducting Raceway, WorkStation Solutions, and others, in 2020.
Belden Inc. launched its new range of structured cabling solutions, such as Belden® 10GX® System, System 4800LX, GigaBIX® Multi System, and others, in 2020.
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More Valuable Insights on Structured Cabling Market
In the latest report by Fact.MR, we offer an unbiased analysis of the global structured cabling market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of solution (hardware [copper cables, fiber cables, racks and cabinets, patch panels, and cross connects], software, and services [installation & consultation, managed services, and maintenance & support]) and vertical (IT & telecom [telecom operators, data centers, and others], commercial, industrial [discrete & process manufacturing, energy & power, oil & gas, metals & mining, and others], residential, transportation & logistics, and others), across six major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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