Vast rise in the demand for reliable high performance, connectivity, and efficiency has been enhancing the growth of the marine cables and connectors market.
Albany, NY -- (SBWIRE) -- 03/05/2018 -- The global marine cables and connectors market is projected to grow at a CAGR of 5.3% through 2025 according to a new research study added to the repository of Market Research Reports Search Engine (MRRSE). The report titled "Marine Cables and Connectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025" offers detailed analysis on the key factors influencing the market.
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According to the report, demand for high-speed data transmission and rising adoption in the telecommunications sector will continue to create growth opportunities for manufacturers. The demand for fiber optics cables is anticipated to witness a spike in the near future, which is likely to augur well for the growth of the marine cables and connectors market.
The report has segmented the market on the basis of underwater depth, type, end use, and region. By region, the key markets include North America, South Africa, Asia Pacific, Europe, and Middle East & Africa (MEA). According to the report, Europe is one of the leading markets for marine cables and connectors market. The demand for these cables in the region is mainly attributed to growing adoption of high speed fiber optics in the telecommunication industry. The report estimates that Europe accounts for over 30% revenue share of the market.
In addition to Europe, the report projects Asia Pacific to emerge as a lucrative market for marine cables and connectors during the assessment period. Many countries in Asia Pacific are focusing on developing high-speed data transmission capabilities, and this has provided an impetus to the growth of the global market.
By type, the report has broadly segmented the market into cables and connectors. Of these, demand for cables is higher, and it is expected that this segment will continue to grow at a steady CAGR during the assessment period. The report projects cables segment to grow at 5.7% CAGR, which is higher than the overall revenue CAGR of the market.
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The telecommunications sector will continue to be one of the leading adopters of marine cables and connectors. Demand from this sector is likely to provide an impetus to growth during the assessment period. In addition to telecommunications, military and defense are among the other leading end-users of marine cables and connectors globally.
The report also includes a detailed competitive profiling of some of the leading players in the market. The key players include TE Connectivity, Inc., Teledyne Marine, Eaton Corporation Plc., Huawei Marine, Fujitsu Limited, Scorpion Oceanics, SAMCO Inc., Molex, and General Cable Company.
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