The need for secure and high speed data transfer is expected to increase during the forecast period due to rise in incidences of security threats, data breaching, and rapid increase in Internet users. However, factors such as higher installation costs, and limited physical availability for connected devices are anticipated to restrain the market growth. The demand for Power over Ethernet (PoE) in industries is expected to reveal new market opportunities by key players.
Portland, OR -- (SBWIRE) -- 02/26/2018 -- The Ethernet cable market size is projected to reach $376 million by 2022 from $121 million in 2015, growing at a CAGR of 17.7% from 2016 to 2022, according to the new report published by Allied Market Research. The U.S. dominated the North America Premise Cable market in 2015, accounting for a market share of over 71%.
Ethernet cable is defined as the network cable used to establish a network by connecting PCs, routers, switches, and others over a Local Area Network (LAN). These cables are used for data transmission over short and long distances through copper cables and fiber optic cables, thus, covering approximately a range of 100 meters to 2,000 meters. This market growth is supported by its unmatched benefits such as higher data transfer speed, increased reliability, and lower chances of interference from external factors. Presently, higher installation costs and tough competition from wireless technologies act as major restraints for the market growth. However, these restraints are expected to lose their impact shortly, owing to rapid technological advancements and various benefits such as Power-Over-Ethernet (PoE) in the Ethernet cable market.
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By subsystem segment, Ethernet cable types are covered under the scope of the report, where copper cables held the largest market share of 62% in 2015 and are estimated to grow at a CAGR of 15.2% during the forecast period. Fiber-optic Ethernet cables are gaining popularity due to the rise in demand for high-speed data transfer over long distances. Hence, it is expected to exhibit significant growth during the forecast period and attain a value of $175 million by 2022.
Geographically, the North American Ethernet cable market is analyzed based on its geographical distribution across the U.S., Canada, and Mexico. The U.S. market acquires a dominant share amongst the mentioned countries and is expected to reach a value of $253 million by 2022, owing to the increase in demand for data storage and various government initiatives in oil & gas industries. Canada is also estimated to be the fastest growing region that will grow substantially at a CAGR of 20.1% during the forecast period because of the rapid increase in industrialization and high Internet penetration.
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The key players profiled in the report are Belden Inc., Nexans, Anixter International Inc., General Cable Technologies, Alpha Wire, The Siemon, Schneider Electric SE, Siemens AG, Hitachi Ltd., and Prysmian Group.