Cable Connectors and Adapters Market - Technological breakthroughs, Value chain and stakeholder analysis by 2022. According to TMR, the opportunity in the global cable connectors and adapters market will be worth US$85.75 bn by 2022 as compared to US$47.78 bn in 2014. Between the forecast period of 2015 and 2022, the market will rise at a CAGR of 7.8%. Between 2014 and 2022, the external cable connectors and adapters segment is expected to expand at a CAGR of 6.6%, maintaining its leading position. Asia Pacific dominated the global market and is expected to continue in this position due to the growing number of datacenters in Indonesia, Australia, India, and China. By the end of 2021, the region is expected to account for a share of 40.0% in the global market.
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Digitization Brings in Demand for Modern Cable Connectors and Adapters
Programs initiated by governments across the globe to digitize various operations across various sectors has been the driving force behind the penetration of the Internet in the remote corners of the world. This has increased the number of Internet users and intensified the dependence on the Internet for the effective application of technologies and communication solutions. The awareness about social media and accessibility to information through these mediums has thus perpetrated a movement to secure better Internet connectivity, thereby stirring an unprecedented demand for cable connectors and adapters.
The global cable connectors and adapters market is also being boosted by increasing expenditure on IT and telecom services by the commercial sector to meet consumer demand. The consistent industrialization and emerging markets in Asia Pacific have necessitated the adoption of new technologies such as cloud computing and e-commerce, which are governed by reliable Internet connectivity and modern devices. All of these factors have collectively created an acute need for cable connectors and adapters.
Development of Wireless Technologies Could Limit Role of Cable Connectors and Adapters
The evolution of wireless technologies have persistently rendered cable connectors and adapters obsolete, largely eliminating their purpose as users are adopting and adapting to smartphones, tablets, laptops, and other PDAs. The widespread use of wireless technologies in developing and developed markets due to benefits such as high-speed data transmission is expected to restrict the sales of cable connectors and adapters in the near future.
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