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Cable Assembly Market Trends

Report ID: GMI9797
Published Date: Jun 2024
Report Format: PDF

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Cable Assembly Market Trends

The rising trends in multi-fiber cable assemblies are agitated by the need for higher data transmission capacities, improved efficiency, and adaptability to rapidly enhancing technological landscapes. As industries, such as data centers, telecommunications, and 5G networks, continue to expand, the demand for innovative and high-performance multi-fiber cable assemblies is expected to rise. Companies that can stay ahead of these trends by adopting advanced manufacturing techniques, focusing on sustainability, and offering customizable solutions will be well-positioned to succeed in this dynamic market.

For instance, in August 2021, TE Connectivity (TE), a world leader in innovative connectivity solutions for high-speed computing and networking applications, announced its multi-fiber cable assemblies, which can provide high signal data connectivity routing through only one cable connecting multiple units in the field instead of one assembly for each. TE's multi-fiber cable assemblies can save space, simplify connections, and offer an economic upgrade solution as they are intended for use without requiring an upgrade of customer applications.

The rise in the automotive sector is encouraging the development of cable assemblies. The increasing adoption of autonomous driving technologies requires reliable and high-performance cable assemblies for sensor integration and communication systems. Many organizations are collaborating and forming definite solutions for various domains to configure customer demands. The transition to Electric Vehicles (EVs) necessitates specialized cable assemblies for battery management systems, power distribution, and charging infrastructure.

For instance, in June 2022, Amphenol, a global industrial leader in connectors and specialized cable assemblies, and ABB Installation Products collaborated and worked on high-performance electrical solutions to meet the evolving needs of e-mobility, infrastructure, robotics, and transportation customers. The alliance aims to expand ABB’s existing product lines including Harnessflex cable management solutions, PMA cable & conduit systems, and Kopex cable protection.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for cable assembly was worth USD 169 billion in 2023 and is projected to expand at over 6% CAGR from 2024 to 2032, owing to the increasing demand for fast data transfer and the growing digitalization.

The telecommunications industry vertical segment in the cable assembly industry is projected to reach over USD 50 billion by 2032, due to the rapid advancements in technology and increasing demand for connectivity.

The medium cable length segment in the cable assembly industry recorded over USD 75 billion in revenue in 2023 and is estimated to depict notable CAGR between 2024 and 2032, due to the rise of smart factories and Industry 4.0 initiatives.

Asia Pacific market size is estimated to grow at over 7% CAGR between 2024 and 2032, led by the rising industrial automation, increasing consumer electronics demand, growing automotive industry, and advancements in medical devices.