The leading players in the global cable connectors and adapters market are likely to explore further opportunities through aggressive pricing strategies in the near future, in order to generate higher sales volume. More and more players are beginning to work closely with their customer base to further develop and design products that could better suit the dynamic specific needs, in turn improving their own brand value. They are expected to steadily overcome the limitations in design such as small product sizes while bringing about improvements such as lower weigh and better durability.
According to the TMR report, the global cable connectors and adapters market is expected to reach US$85.75 bn by the end of 2022, rising from its 2014 evaluation of US$47.78 bn and expanding at an optimistic CAGR of 7.8% from 2014 to 2022. For the same forecast period, external cable connectors and adapters are expected to expand at a leading pace, thereby maintaining their already earned lead in the market in terms of demand volume. From a regional perspective, Asia Pacific led the global cable connectors and adapters market and is also likely to continue in this position over the coming years, owing to the growing number of datacenters in Indonesia, Australia, India, and China.
Digitization Trends Herald Fresh Demand for Advanced Cable Connectors and Adapters
“Governments and private companies alike are showing an increasing interest in the digital realm. Programs initiated by numerous governments to promote digital trends across industry verticals and operations has so far been the leading driver for the proliferation on the Internet on a global scale, consequently driving the global cable connectors and adapters market,” states a TMR analyst. Effective technology application and communication solutions are becoming increasingly necessary as more and more critical data is being accessed or transmitted across digital platforms.
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The awareness about social media and accessibility to information through these mediums has additionally created need for better and more secure 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.
Influx of Wireless Technologies to Hinder Cable Demand
The evolution of wireless technologies has progressively threatened to make wired technologies, cable connectors, and adapters obsolete. This is bottlenecking the global cable connectors and adapters market to a large extent by simply removing their need, while users begin 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.