Increase in demand for data, enhanced cable technology, and easy installation & connection are the major factors driving the growth of the global premise cable market. On the other hand, high installation cost, limited availability for devices, and negative impact of internet of things restrain the growth to some extent. However, upsurge in demand for high-speed connectivity devices and systems is expected to create a number of opportunities in the near future.
Global premise cable industry garnered $4.83 billion in 2018, and is estimated to reach $9.28 billion by 2026, growing at a CAGR of 8.3% from 2019–2026. The report also provides a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive landscape, and changing market trends.
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The copper cable segment to lead the trail by 2026-
Based on type, the copper cables contributed to more than half of the global premise cable market share in 2018 and is expected to dominate throughout 2019–2026. The fact that copper cables are cheaper in cost as compared to other networking cables has supplemented the growth. The fiber optic cable, on the other hand, would cite the fastest CAGR of 10.2% during the study period. The capacity of fiber to carry the audio and video over long distance has fueled the growth.
The industrial segment held the largest share in 2018-
Based on application, the industrial segment accounted for more than one-fourth of the global premise cable market revenue in 2018 and is anticipated to retain its top status by 2026. This is attributed to the fact that these cables are majorly used for data transmission in industrial robotic applications and provide reliable result. At the same time, the IT & Telecom segment would register the fastest CAGR of 8.5% throughout 2019–2026.
Premise cables are extensively used for industrial purposes to control and transmit data between various machines and systems within a premise, that is, inter-building or intra-building. Cables used in an industry setting often require more efficient connectors. However, to achieve enhanced performance, industrial premise cables use specialized protocols in conjunction with Ethernet. Popular Industrial Ethernet protocols are PROFINET, EtherNet/IP, EtherCAT, SERCOS III, and POWERLINK.
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North America to rule the roost in terms of revenue-
Based on geography, North America held the major share in 2018, generating nearly one-third of the global premise cable market. Growing adoption of new technologies such as automated lighting and smart energy systems, followed by growth of institutional setups such as school, colleges, and universities in North America contributes to the premise cables market in region. Simultaneously, the region across Asia-Pacific is projected to cite the fastest CAGR of 10.5% till 2026. Growing population, followed by increase in demand for network connectivity, and multimedia devices drives the demand for premise cables in Asia-Pacific during the study period.
Key Finding of The Premise Cable Market:
- In terms of revenue, copper cable contributed the maximum premise cable market share in 2018, and is expected to maintain its lead throughout the forecast period.
- In 2018, the industrial segment held maximum market share, which was the highest among all applications.
- In 2018, North America accounted for over a 30% share globally, and is expected to dominate the premise cable market forecast.
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