The global structured cabling market revenue stood at $6,912.1 million in 2021, and it is predicted to rise to $12,916.5 million by 2030. According to the estimates of the market research organization, P&S Intelligence, the market will exhibit a CAGR of 7.2% from 2021 to 2030 (forecast period). The major factors fueling the expansion of the market are the growing requirement for high bandwidths and demand for effective cabling management. Additionally, the advent of the internet of things (IoT) is also supporting the growth of the market across the globe.
The surging penetration of the internet has caused a sharp rise in the need for high bandwidths, as high bandwidths enable the smooth operation of various business processes. Since cabling can provide high bandwidths, the growing demand for improved bandwidths is driving the expansion of the structured cabling market. Enterprises are rapidly modifying their information technology (IT) infrastructure, on account of the mushrooming use of bandwidth-intensive applications, such as IP-based videoconferencing, digital audio and video, and voice over IP (VoIP).
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Cabling is being increasingly used by companies operating in the government, commercial, industrial, and telecommunication sectors for improving their IT infrastructure. Structured cabling assists in making cabling management simple, as it can be easily managed and laid down without requiring a large number of skilled staff members. Thus, the soaring requirement for hassle-free IT infrastructure is propelling the progress of the market, as it reduces the time and costs for government agencies, industries, and data centers.
It provides a more standardized and organized approach in comparison to patch cords. Depending on product, the structured cabling market is divided into fiber cables, copper cables, fiber components, and copper components. Out of these, the fiber cables category is predicted to demonstrate the highest growth rate in the market in the forthcoming years. This is credited to the growing requirement for high bandwidths, high network security, reliable networking, and low signal attenuation.