Global Cable and Accessories Market Overview:
As per MRFR analysis, the Cable and Accessories Market Size was estimated at 68.17 (USD Billion) in 2022. The Cable and Accessories Market is expected to grow from 71.61 (USD Billion) in 2023 to 111.6 (USD Billion) by 2032. The Cable and Accessories Market CAGR (growth rate) is expected to be around 5.05% during the forecast period (2024 - 2032).
Key Cable and Accessories Market Trends Highlighted
Amidst the evolving technological landscape, the Cable and Accessories Market is poised for significant growth. Key market drivers include rising demand for reliable and high-speed data connectivity, rapid urbanization, and the proliferation of smart devices.
The increasing adoption of cloud-based services and the growing need for bandwidth-intensive applications are further fueling market expansion.
Opportunities abound in the Cable and Accessories market, notably in fiber optic cables and wireless accessories. Fiber optic cables offer superior bandwidth capacity and reduced latency, making them ideal for high-speed data transmission.
Wireless accessories, such as Bluetooth headsets and portable chargers, are witnessing growing demand due to the increasing use of smartphones and tablets.
Recent trends in the Cable and Accessories market include the adoption of advanced technologies, such as artificial intelligence (AI) and the Internet of Things (IoT). These technologies enable real-time monitoring, predictive maintenance, and enhanced user experiences.
Additionally, the rising emphasis on sustainability has led to the development of eco-friendly cables and accessories, which are manufactured using recycled materials and energy-efficient processes.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cable and Accessories Market Drivers
Rising Demand for High-Speed Internet Connectivity
The increasing adoption of smart devices, streaming services, and cloud-based applications is driving the demand for high-speed internet connectivity. This, in turn, is fueling the growth of the Cable and Accessories Market, as cables and accessories are essential for transmitting data at high speeds.
The growing popularity of fiber optic cables, which offer significantly higher bandwidth than traditional copper cables, is further contributing to the market growth.
Additionally, the deployment of 5G networks, which require high-quality cables and accessories to support faster data transmission, is expected to provide a significant boost to the market in the coming years.
Expansion of Smart Cities and Buildings
The growing trend towards smart cities and buildings is also driving the demand for cables and accessories. Smart cities require a robust network infrastructure to connect various devices and sensors, which is leading to increased demand for cables and accessories.
Similarly, smart buildings require advanced cabling solutions to support automation, energy efficiency, and security systems. The increasing adoption of smart building technologies, such as building management systems (BMS) and Internet of Things (IoT) devices, is expected to drive the demand for cables and accessories in the Cable and Accessories Market.
Increasing Focus on Renewable Energy
The growing emphasis on renewable energy sources, such as solar and wind power, is creating new opportunities for the Cable and Accessories Market. Renewable energy systems require specialized cables and accessories to transmit electricity efficiently over long distances.
The increasing deployment of solar and wind farms, particularly in remote areas, is driving the demand for durable and reliable cables and accessories.
Additionally, the development of electric vehicles (EVs) is expected to further boost the market growth, as EVs require specialized charging cables and accessories.
Cable and Accessories Market Segment Insights:
Cable and Accessories Market Cable Type Insights
Cable Type Segment Insights and Overview The global Cable and Accessory Market is segmented based on cable type into coaxial cables, fiber optic cables, twisted pair cables, USB cables, HDMI cables, and VGA cables. Among these, fiber optic cables held the largest market share in 2023, and are projected to continue their dominance throughout the forecast period.
The growth of this segment can be attributed to the increasing demand for high-speed data transmission and bandwidth-intensive applications such as cloud computing, video streaming, and 5G networks.
Coaxial cables are expected to witness a steady growth rate during the forecast period due to their widespread use in cable television and broadband internet applications. Twisted pair cables are also anticipated to experience significant growth, primarily driven by their use in structured cabling systems and Ethernet networks.
USB cables, HDMI cables, and VGA cables are essential components of consumer electronics and computer systems. USB cables are used for data transfer and charging, while HDMI cables are used for transmitting high-definition video and audio signals.
VGA cables are commonly used for connecting computers to monitors and projectors. This growth is driven by the increasing demand for high-speed data transmission, the expansion of broadband networks, and the growing adoption of electronic devices.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cable and Accessories Market Application Insights
The Cable and Accessories Market is segmented based on application into Telecommunications, Data Communication, Power Transmission, Security Systems, Automotive, and Industrial. The Telecommunications segment held the largest market share in 2023 and is expected to continue to dominate the market throughout the forecast period.
The growth of this segment can be attributed to the increasing demand for high-speed internet and broadband services. The Data Communication segment is also expected to witness significant growth over the forecast period due to the increasing adoption of cloud computing and data center applications.
The Power Transmission segment is expected to grow at a steady pace due to the increasing demand for electricity and the need to upgrade and expand power transmission networks. The Security Systems segment is expected to witness moderate growth due to the increasing demand for security systems in both residential and commercial buildings.
The Automotive segment is expected to grow at a steady pace due to the increasing demand for automotive cables and accessories. The Industrial segment is expected to witness moderate growth due to the increasing demand for industrial cables and accessories in various industries.
Cable and Accessories Market Material Insights
The Material segment is a crucial aspect of the Cable and Accessories Market, influencing its overall performance and growth trajectory. Copper, Aluminum, Plastic, and Glass Fiber are the primary materials utilized in cable and accessory manufacturing, each offering unique properties and applications.
Copper, known for its excellent conductivity, is widely used in electrical cables, accounting for a significant share of the market revenue. Aluminum, a lightweight and cost-effective alternative, is gaining popularity in power transmission applications.
Plastic, due to its insulation properties, finds extensive use in telecommunication cables and accessories. Glass Fiber, with its ability to transmit signals over long distances with minimal loss, is revolutionizing the telecommunications and data center industries.
The Material segment presents a dynamic landscape, with ongoing advancements and innovations driving market growth and shaping industry trends.
Cable and Accessories Market Shielding Insights
The Cable and Accessories Market segmentation provides insights into the Cable and Accessories Market by dividing it into different segments and sub-segments. These segments are analyzed based on various factors such as product type, application, end-use industry, and region.
The Shielding segment is one of the essential segments of the Cable and Accessories Market. This segment includes Braided Shielding, Foil Shielding, and Unshielded sub-segments. The Cable and Accessories Market for Shielding is projected to grow from USD 24.3 billion in 2023 to USD 34.7 billion by 2032, at a CAGR of 4.5%.
The growth of the Shielding segment is primarily driven by the increasing demand for high-speed data transmission and EMI protection in various industries such as telecommunications, data centers, and consumer electronics.
Braided Shielding is expected to hold the largest market share during the forecast period due to its high flexibility and EMI shielding effectiveness.
Foil Shielding is another widely used type of shielding, offering excellent EMI protection and low attenuation. Unshielded cables are typically used in low-noise environments and applications where EMI protection is not critical.
The Cable and Accessories Market for Shielding is a highly competitive market with the presence of several well-established players.
Cable and Accessories Market Connector Type Insights
The Connector Type segment in the Cable and Accessories Market is expected to exhibit significant growth in the coming years, driven by the increasing demand for high-speed data transmission and the proliferation of connected devices.
RJ45 connectors, commonly used in Ethernet cables, held the dominant market share in 2023 and are projected to maintain their dominance throughout the forecast period. The rising adoption of IoT devices, cloud computing, and data centers is fueling the demand for RJ45 connectors.
USB connectors, primarily used in smartphones, laptops, and other portable devices, are also expected to witness substantial growth.
The increasing popularity of USB-C, with its faster data transfer speeds and power delivery capabilities, is contributing to the segment's growth. Additionally, the growing adoption of wireless charging technologies, such as Qi and Power over Ethernet (PoE), is expected to drive demand for USB connectors further.
HDMI connectors, known for transmitting high-definition video and audio signals, are another key segment in the Cable and Accessories Market. The increasing adoption of smart TVs, gaming consoles, and streaming devices is driving the demand for HDMI connectors.
The rising popularity of 4K and 8K resolutions is also contributing to the segment's growth. VGA connectors, primarily used in older computer monitors and projectors, are expected to experience a decline in demand due to the increasing adoption of digital display technologies.
However, they are still widely used in legacy systems and certain industrial applications. BNC connectors, commonly used in video surveillance systems and broadcasting equipment, are expected to maintain a steady growth rate. The increasing adoption of IP-based video surveillance systems and the growing demand for high-quality video transmission are driving the demand for BNC connectors.
F-type connectors, primarily used in coaxial cables for satellite and cable television, are expected to witness stable growth. The increasing penetration of cable and satellite TV services, particularly in emerging markets, is contributing to the segment's growth.
Cable and Accessories Market Regional Insights
The regional segmentation of the Cable and Accessories Market offers valuable insights into the market's geographical distribution and growth potential. North America dominates the market, accounting for around 35% of the global revenue in 2023.
The region's well-established infrastructure, technological advancements, and high demand for high-speed internet connectivity contribute to its dominance. Europe follows closely with a market share of approximately 28%, driven by the presence of major telecommunications companies and the increasing adoption of cloud-based services.
The Asia-Pacific (APAC) region is expected to witness significant growth in the coming years, owing to rapid urbanization, rising disposable incomes, and government initiatives to expand broadband connectivity.
South America and the Middle East and Africa (MEA) regions hold a smaller market share but present growth opportunities due to increasing investments in infrastructure and the expansion of mobile networks.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cable and Accessories Market Key Players and Competitive Insights:
Major players in the Cable and Accessories Market are constantly innovating and developing new products to meet the changing needs of customers. Leading Cable and Accessories Market players are investing heavily in research and development to stay ahead of the competition.
The Cable and Accessories Market is highly competitive, with a number of major players vying for market share. Some of the leading players in the Cable and Accessories Market include Corning Incorporated, Prysmian Group, Nexans, LS Cable & System, and Sumitomo Electric Industries. These companies offer a wide range of products and services to meet the needs of a variety of customers.
Leading Cable and Accessories Market player Corning Incorporated is a global leader in the development and manufacturing of optical fiber, cable, and connectivity solutions. The company's products are used in a wide range of applications, including telecommunications, data centers, and enterprise networks.
Corning has a strong commitment to innovation and has invested heavily in research and development over the years. As a result, the company has been able to develop a number of cutting-edge products that have helped to drive the growth of the Cable and Accessories Market.
Competitor Prysmian Group is another major player in the Cable and Accessories Market. The company is a global leader in the development and manufacturing of energy and telecommunications cables and systems. The Prysmian Group has a strong presence in Europe, the Americas, and Asia.
The company's products are used in a wide range of applications, including power transmission and distribution, telecommunications, and renewable energy. Prysmian Group is committed to sustainability and has a number of initiatives in place to reduce the company's environmental impact.
Key Companies in the Cable and Accessories Market Include:
- Nexans
- TE Connectivity
- OFS Fitel
- Corning Incorporated
- Amphenol ICC
- Furukawa Electric
- Hitachi Metals
- Amphenol Corporation
- Molex
- Prysmian Group
- Belden
- LS Cable
- Hindalco Industries
- Sumitomo Wiring Systems
- Sumitomo Electric Industries
Cable and Accessories Market Developments
The rising demand for high-speed internet connectivity, increasing adoption of fiber optics, and growing investments in smart cities are major factors driving market growth. Furthermore, advancements in cable technology, such as the development of self-healing cables and bend-insensitive fibers, are creating new opportunities for market expansion.
Key market players are focusing on strategic partnerships, acquisitions, and product innovations to gain a competitive edge. Recent developments include Corning's acquisition of 3M's Communication Markets Division, Prysmian Group's investment in a new fiber optic cable plant in India, and Nexans' launch of a new range of high-performance cables for data centers.
These developments indicate the growing importance of the Cable and Accessory Market in supporting the rapidly evolving digital infrastructure landscape.
Cable and Accessories Market Segmentation Insights
- Cable and Accessories Market Cable Type Outlook
- Coaxial Cables
- Fiber Optic Cables
- Twisted Pair Cables
- USB Cables
- HDMI Cables
- VGA Cables
- Cable and Accessories Market Application Outlook
- Telecommunications
- Data Communication
- Power Transmission
- Security Systems
- Automotive
- Industrial
- Cable and Accessories Market Material Outlook
- Copper
- Aluminum
- Plastic
- Glass Fiber
- Cable and Accessories Market Shielding Outlook
- Braided Shielding
- Foil Shielding
- Unshielded
- Cable and Accessories Market Connector Type Outlook
- RJ45
- USB
- HDMI
- VGA
- BNC
- F-type
- Cable and Accessories Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
68.17(USD Billion) |
| Market Size 2023 |
71.61(USD Billion) |
| Market Size 2032 |
111.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.05% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Nexans, TE Connectivity, OFS Fitel, Corning Incorporated, Amphenol ICC, Furukawa Electric, Hitachi Metals, Amphenol Corporation, Molex, Prysmian Group, Belden, LS Cable, Hindalco Industries, Sumitomo Wiring Systems, Sumitomo Electric Industries |
| Segments Covered |
Cable Type, Application, Material, Shielding, Connector Type, Regional |
| Key Market Opportunities |
Industrial automation Electric vehicle charging Renewable energy Smart cities Data center expansion |
| Key Market Dynamics |
Increased urbanization, rising infrastructure investment, expanding smart grid applications, and electrification of transportation. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cable and Accessories Market was valued at approximately 71.61 billion USD in 2023.
The Cable and Accessories Market is projected to grow at a CAGR of 5.05% from 2024 to 2032.
The Cable and Accessories Market is expected to reach a valuation of approximately 111.6 billion USD by 2032.
The Asia-Pacific region held the largest market share in the Cable and Accessories Market in 2023.
The telecommunications segment is expected to be the key driver of growth for the Cable and Accessories Market.
Some of the key competitors in the Cable and Accessories Market include Prysmian Group, Nexans, LS Cable & System, and Sumitomo Electric Industries.
The major trends influencing the Cable and Accessories Market include the increasing demand for high-speed data transmission, the growing adoption of cloud computing and the Internet of Things (IoT), and the increasing use of renewable energy sources.
The Cable and Accessories Market faces challenges such as the fluctuating prices of raw materials, intense competition, and stringent regulatory requirements.
The Cable and Accessories Market presents opportunities for growth in emerging markets, the increasing demand for fiber optic cables, and the development of new technologies.
Government regulations related to safety, environmental protection, and trade can impact the Cable and Accessories Market.
