Albany, NY -- (SBWIRE) -- 04/20/2017 -- In a report, titled "Structured Cabling Market - Global Industry Analysis, Trend, Size, Share and Forecast 2015 - 2021," Transparency Market Research (TMR) provides an in-depth analysis of the growth trajectory that the market is likely to exhibit between 2015 and 2021. The report presents insights into the various factors that will influence the market dynamics. It also studies in detail the development plans and policies that will have an impact on the global structured cabling market over the forecast period.
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Access to high bandwidth is considered an imperative for faster data transmission and in establishing connections through applications such as video calling. The demand for high bandwidth is therefore increasing robustly, which in turn is boosting the global structured cabling market. Furthermore, with the escalating number of internet users worldwide, the demand for better bandwidth is poised to soar, and will in turn translate into higher demand for structured cabling.
Structured cabling is a cabling set-up and associated hardware that facilitates faster and error-free transmission of data and video and voice signals from one point to another or from one server to another. This cabling infrastructure further consists of a number of smaller elements called subsystems. The design and installation of structured cabling is governed by a set of standards that specify apartment buildings and wiring data centers for voice or data communication.
Globally, the structured cabling market is expected to grow at a steady pace. According to the TMR report, the market is likely to exhibit a CAGR of 7.1% from 2015 and 2021. The market, according to the report, stood at US$7.11 bn in 2014 and is expected to reach US$11.45 bn by the end of 2021.
As per the United Nations International Telecommunications Union, the total number of internet users around the world was estimated to be approximately 3 billion in 2014. Furthermore, the organization expects the number to increase at rapidly in the coming years, thereby boosting the scope of expansion for the structured cabling market.
Based on solution type, the global structured cabling market is segmented into hardware, software, and services. Of these, the hardware segment dominated the market accounting for a share of 59.6% in 2014. In terms of application, the commercial segment held 35% of the market in 2014 and emerged as the largest segment. The demand for structured cabling from the commercial segment is expected to rise at a CAGR of 7.1% between 2015 and 2021.
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Regionally, North America dominated the global structured cabling market, holding a share of 38.8% in 2014. The higher internet penetration in the region and the presence of a large number of datacenters are propelling demand from the North America market for structured cabling. During the forecast period, Asia Pacific is also expected to emerge as a lucrative market for structured cabling.
To study the prevailing competition in the market, the report has profiled companies such as Schneider Electric SE, Legrand SA, Corning Inc., Belden Inc., CommScope Holding Company, Inc., among others.