LAN Cable Market Analysis
The LAN Cable Market valuation is expected to grow from USD 5,778.9 Million in 2020 to USD 9.60 Billion in 2030, with a compound annual growth rate of 4.8% during the period of assessment.
A LAN (local area network) cable is one of the hardware components necessary in a network to facilitate communication over a local network by connecting peripheral devices to a router or modem switch, which further connects to a local server. Copper cables connect peripheral devices like laptops and computers to routers, modems, and switches. Ethernet, which is specified as IEEE 802.3, is a computer networking technology that is extensively used for local area networks (LAN). Although LAN cables provide connectivity to a limited area, multiple LANs can be connected to form a broader network. Some of the most often used LAN cables in a network include CAT 5, CAT 5E, CAT 6, CAT 6A, CAT 7, and CAT 8 cables. The end-user can choose among the cables indicated above in a local network based on transfer speeds, bandwidth, and internet connectivity.
The increasing number of data centers throughout the world as a result of increased consumer electronics penetration, as well as the growing demand for high-speed data transfer in both industrial and commercial sectors, are some of the important drivers driving the global expansion of the LAN Cable Market. Furthermore, the increased adoption of IoT-connected devices in various industries, as well as expenditures in IT infrastructure development, particularly in emerging nations, are expected to provide sufficient growth possibilities for market participants.
However, the usage of 5G in conjunction with private LTE and rising demand for wireless products are limiting the worldwide LAN cable market growth. The expanding infrastructure and construction projects are offering opportunities for market expansion.
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Global LAN Cable Market: Segmentation
Global LAN cable market research report: by Type (CAT 6 Cable, CAT 6A Cable, CAT 7 Cable, CAT 5E Cable, and CAT 5 Cable), Application (Office Use, Industrial Use, and Home Use).
The global LAN cable market has been segmented based on technology, gas type, application, and region. On the basis of type, the market has been segmented into CAT 6 cable, CAT 6A cable, CAT 7 cable, CAT 5E cable, and CAT 5 cable. Based on application, the market is segmented into office use, industrial use, and home use.
North America to Gain Maximum Share of LAN Cable Market
North America is estimated to capture a large chunk of the global LAN cable market. It can register 4.79% CAGR over the forecast period. This is attributed to establishment of new office workspaces and launch of consumer electronics compatible with LAN cable market. LAN cables can provide internet services and provide dependable streaming speeds.
APAC to Capture Significant Market Share
APAC is expected to capture a significant LAN cable market share owing to huge demand for seamless internet services and rapid pace of industrialization in China, Taiwan, India, Australia, North Korea, South Korea, and Indonesia. Establishment of data centers and rise of digital developments can propel market growth significantly.
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The Key Players of the Global LAN Cable Market include Black Box Corporation (US), Fiberstore (FS.COM Inc.) (US), OTSCable.com Co Ltd. (China), Infinite Electronics International Inc. (US), Belden Inc. (US), Hitachi Ltd. (Japan), Nexans SA (France), DBA Primus Cable (US), Huzhou Shumai Cable Co., Ltd. (China), LEONI AG (Germany), and General Cable Technology Corporation (US) among others.
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