The Global Patch Cable Market to Grow at 7.11% of CAGR by 2028
Triton Market Research presents the Global Patch Cable Market report segmented by Product Type (Copper Cable, Fiber Optics), Application (Networking, Non-networking), End-user (Industrial, Enterprise, IT & Network Security, Others), Cable Category (CAT 3, CAT 5, CAT 5E, CAT 6, CAT 6A, CAT 7, Multimode Optical Fiber, RG6, Others), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), discussing Market Summary, Industry Outlook, Market Definition, Key Insights, Impact of COVID-19 on Market, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Drivers, Challenges, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).
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As per Triton Market Research’s analysis, the Global Patch Cable Market is expected to rise at a CAGR of 7.11% over the forecasting period from 2022 to 2028.
High-speed connectivity devices and systems have gained popularity in recent years, and are being used in several industrial applications to cater to the rising need for smooth and secure data transmission. Patch cables provide numerous techniques for transmitting PoE cabling. Such advantages of patch cables are expected to offer lucrative growth opportunities to the market.
However, the high cost incurred during the installation of these cables and the negative impacts of the Internet of Things are hindering the market growth process.
The Asia-Pacific is currently leading the global market for patch cables, and is anticipated to continue its stronghold over the industry in the coming years. Whereas, Japan is expected to grow at the fastest rate in the regional patch cable market. A surge in the number of upcoming projects like smart cities is observed in the region. This has led to an increase in the penetration of optical fiber technologies in developing nations, which, in turn, is supporting the growth of the market. Moreover, the rapid urbanization and industrialization rate have made the Asia-Pacific a lucrative and emerging market for patch cable manufacturers.
Prysmian Group, CP Technologies, Cable Master, Black Box Corporation, FScom, Comnen, Major Custom Cable, Panduit Corp, Legrand LLC, Schneider Electric, Corning Incorporated, Commscope, Quabbin Wire & Cable Co Inc, Belden, and Otscable are the prominent names operating in this market.
There is high rivalry among industry players, as a large number of them are manufacturing different types of products. Additionally, these companies are also focusing on innovation to strengthen their business further and to step up in the market. For instance, in February 2020, Prysmian Group launched its Sirocco range of high-density microduct cables, boasting of world record-making diameters and fiber densities for blown microduct cables. Further, in April the same year, the group launched the world’s first commercially available 180 µm fiber cable.
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