The ethernet cable market is evaluated at $5.562 billion for the year 2018 and is projected to grow at a CAGR of 5.83% to reach US$7.817 billion by the year 2024, says the latest report from ResearchandMarkets.com.
Reasons for Ethernet Cable Demand
The demand for Ethernet cables will grow owing to the faster speeds and less latency that they offer as compared to wireless networks, says the research website. Moreover, Ethernet cables are more secure as they cannot be intercepted and are comparatively easy to connect and setup.
However, the availability of substitutes in the form of wireless networks and fiber optic cables, and its limited connection and range due to its physical structure will limit the growth of the demand for these cables over the forecasted period.
The North American market will hold a significant share of the market due to the early adoption of the internet and technology, and the Asia Pacific market will see ample growth opportunities due to rising commercialization and improvement in the internet and technology infrastructure in the next five years.
The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the ethernet cable market.
It also segments ethernet cable demand based on based on type, shielding, end-user, and geography.
Learn more about the study here.