Structured Cabling Market worth over $35bn by 2028

Structured Cabling Market size is set to surpass USD 35 billion by 2028, according to a new research report by Global Market Insights Inc.
 

A rapid rise in the use of smart electronic devices is propelling internet consumption globally. According to the International Telecommunication Union (ITU), approximately 4.9 billion individuals have used internet services in 2021. Rising use of internet services requires the storage and management of data over network infrastructures, which will drive the market growth.
 

Higher transmission rates and increased bandwidth requirements have encouraged data center operators to upgrade cable architecture to meet the needs of their customers. The demand for real-time information, which requires faster and uninterrupted data transfer, is fueling the global market expansion.
 

Different infrastructure development projects were temporarily halted due to the COVID-19 pandemic in the first half of 2020. Leading market players decreased their spending on infrastructure solutions, reducing demand for structured cabling. In the second half of 2020, various industries including IT & telecom and BFSI increased their focus on improving their cabling infrastructure to offer optimum quality services to their customers. This factor encouraged market participants to introduce new structured cabling solutions.
 

Increasing usage of software solutions for maintaining and managing the functioning of cabling infrastructures

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A software package enables enterprises to maintain the performance, analysis, and operation of various cabling systems. Market leaders are offering cable management software that gives an overview of the system's networking infrastructure, reducing the manual check of device connections. Software solutions that efficiently control complicated network infrastructures are being increasingly used by customers in different sectors such as BFSI, IT & telecom, and government. Moreover, the growing installation of modern cabling hardware solutions will increase the demand for cable management software to help in planning, project management, configuration, and monitoring of network architectures.
 

Browse key industry insights spread across 307 pages with 285 market data tables and 32 figures & charts from the report, “Structured Cabling Market Size By Component (Hardware [Cables {Copper, Fiber-Optic}, Communication Outlet System, Patch Cables & Cable Assemblies, Patch Panels & Cross Connects, Racks & Cable Management], Software, Service [Consulting, Installation & Deployment, Maintenance & Support]), By Application (BFSI, Commercial, Energy, Government, Healthcare, Industrial, IT & Telecom, Transportation), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/structured-cabling-market
 

Growing digitalization in the BFSI sector will foster the structured cabling market progression

Government initiatives to enhance the penetration of online banking services will increase demand for cabling solutions. For instance, in September 2020, the European Commission accepted the agreement for the creation of a unified payment solution for consumers and merchants across Europe. The BFSI sector is increasingly storing sensitive customer data that requires reliable storage solutions. The rising IT security threats have encouraged organizations to invest in reliable data center infrastructure management solutions impelling the industry growth.
 

Rising number of organizations are implementing cloud-based technologies

The growing adoption of cloud-based technologies in businesses will increase the acceptance of structured cabling solutions. Several companies in North America are transforming their infrastructure facilities into cloud-based systems for effective management and data security. For instance, in October 2021, Google LLC developed a new cloud region in Canada to improve business continuity planning through decentralized and secure infrastructure. The move will aid in meeting IT disaster recovery requirements while protecting data integrity. The industry is witnessing a rise in the demand for many servers and storage devices that will store a massive volume of data. Businesses are dependent on effective cabling solutions that reduce wiring complexities and improve data transmission between servers.
 

Innovation and upgrades in structured cabling solutions form a key strategy among market participants

As telecom operators are expanding their networks, companies are introducing new structured cabling solutions to accelerate fiber installations, service, and extension of connections. For instance, in August 2021, CommScope Holding Company Inc. introduced the Fiber Optic Splice Closure (FOSC) modular solution. This dome splice closure expands on FOSC's lineage of advancement and safeguards fiber optic interconnection by introducing a new & reconfigurable seal configuration that uses NOVUX technology for fiber-deep configurations and implementation. The market players are focused on offering tailored structured cabling solutions for different industry verticals.
 

Prominent leaders operating in the market include ABB Ltd., Anixter International, CA Technologies, Cisco Systems, Inc., CommScope Holding Co., Inc., Corning, Inc., Fiber Mountain, Inc., Fujitsu Limited, Furukawa Electric Co., Ltd., General Cable Technologies Corporation, IBM Corporation, Legrand S.A., Metz Connect, Nexans S.A., Panduit Corporation, Reichle & De-Massari AG, RiT Tech (Intelligence Solutions) Ltd., Rittal GmbH & Co., KG, TE Connectivity, and The Siemon Company.