The research report on “Global Cable Connectors and Adapters (Used in IT Applications) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022” provides an in-depth analysis of the global cable connectors and adapters market along with market estimates (size in US$ Mn) and forecast for the period from 2015 to 2022.
Albany, NY -- (SBWIRE) -- 12/09/2016 -- Key players in the global cable connectors and adapters market will be taking maximum advantage of aggressive pricing strategies in the coming years to achieve higher sales volume, observes Transparency Market Research. Companies will also work closely with their customers to design products specific to their needs to not only improve revenues but also to increase brand value. "Overcoming the challenge of designing products that are small in size and weigh less to cater to the demand of the dynamic IT and communication devices manufacturing industry will benefit players in the cable connectors and adapters market," says the lead author of this research report.
Currently, TE Connectivity, Amphenol Corp, L-Com Global Connectivity, and General Cable are some of the leading companies in the cable connectors and adapters market. Forming strategic alliances with domestic players to extend their footprint in newer regions is being seen as a preferred growth strategy of companies. A case in point would be the introduction of L-Com Global Connectivity's CGU2AB-series cables that support USB 2.0 standards in October 2015. These cables are aimed at delivering high-performance connectivity at a low price.
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Digitization Brings in Demand for Modern Cable Connectors and Adapters
Programs initiated by governments across the globe to digitize various operations across various sectors has been the driving force behind the penetration of the Internet in the remote corners of the world. This has increased the number of Internet users and intensified the dependence on the Internet for the effective application of technologies and communication solutions. The awareness about social media and accessibility to information through these mediums has thus perpetrated a movement to secure better Internet connectivity, thereby stirring an unprecedented demand for cable connectors and adapters.
The global cable connectors and adapters market is also being boosted by increasing expenditure on IT and telecom services by the commercial sector to meet consumer demand. The consistent industrialization and emerging markets in Asia Pacific have necessitated the adoption of new technologies such as cloud computing and e-commerce, which are governed by reliable Internet connectivity and modern devices. All of these factors have collectively created an acute need for cable connectors and adapters.
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Development of Wireless Technologies Could Limit Role of Cable Connectors and Adapters
The evolution of wireless technologies have persistently rendered cable connectors and adapters obsolete, largely eliminating their purpose as users are adopting and adapting to smartphones, tablets, laptops, and other PDAs. The widespread use of wireless technologies in developing and developed markets due to benefits such as high-speed data transmission is expected to restrict the sales of cable connectors and adapters in the near future.
Growing Datacenters Boost Asia Pacific Cable Connectors and Adapters Market
According to TMR, the opportunity in the global cable connectors and adapters market will be worth US$85.75 bn by 2022 as compared to US$47.78 bn in 2014. Between the forecast period of 2015 and 2022, the market will rise at a CAGR of 7.8%. Between 2014 and 2022, the external cable connectors and adapters segment is expected to expand at a CAGR of 6.6%, maintaining its leading position. Asia Pacific dominated the global market and is expected to continue in this position due to the growing number of datacenters in Indonesia, Australia, India, and China. By the end of 2021, the region is expected to account for a share of 40.0% in the global market.