Insights on the Premise Cable Global Market to 2027 - by Type, Application and Region
DUBLIN, Aug. 16, 2022 /PRNewswire/ -- The "Premise Cable Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global premise cable market reached a value of US$ 7.02 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 11.68 Billion by 2027, exhibiting a CAGR of 8.86% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Premise cables are widely used to connect local area network (LAN) and phone equipment within a building. They run from a central location, such as a server room, to individual desktops. At present, fiber optics are gaining immense traction among premise cables as they offer several advantages in LAN backbone cabling. In addition to this, the leading manufacturers are introducing integrated systems of copper and fiber network cabling and components for excellent performance and reliability.
Rising demand for enhanced flow of communication and broadcast transmission in the telecommunication industry represents one of the primary factors driving the premise cable market. Moreover, the escalating need for high broadband services and connections on account of the increasing use of smartphones as well as the internet is stimulating the market growth.
A significant rise in the construction of schools, colleges, server rooms, and commercial establishments is also catalyzing the demand for premise cables around the world. Apart from this, the introduction of advanced technologies, such as smart power operations and automated lighting, along with the surging demand for multimedia devices and network connectivity, is contributing to the growth of the market.
Apart from this, several types of copper cables are finding wide applications in the oil and gas industry on account of their low cost, high security, and reliability. Furthermore, premise cables are used to control and transmit data between various machines and systems for industrial purposes.
In line with this, rapid industrialization and the rising automation trend in industrial processes are other factors positvely influencing the adoption of premise cables worldwide. Besides this, the rising demand for industrial-grade premise cables, which offer reliability in harsh environmental conditions, is impelling the market growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Belden Inc., CommScope, Corning Incorporated, II-VI Incorporated, NEXANS, Prysmian Group, SAB Brockskes GmbH & Co. KG, Schneider Electric, Siemens AG, Southwire Company LLC and The Siemon Company.
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SOURCE Research and Markets