Ethernet Cable to Stretch $1.42B by 2024
There’s a great future in Ethernet cables.
That’s the word from Hexa Research. The firm expects the global market in this category to reach $1.42 billion by 2024. It says that will be driven by growing consumer demand for broadband Internet services, data center installations, and the IT sector’s growing influence.
Ethernet cable companies are bulking up to address the demand, according to Hexa Research. It points to General Cable Corp.’s 2008 acquisition of Isotec Inc. and Gepco for $46 million as an example of that.
The research firm also notes moves by companies including Belden Inc., General Cable, and SAB Brockskes to adopt more efficient materials for high-speed data transfer and durability. In addition to the companies named above, Hexa Research says key players in the Ethernet cable market include Anixter Inc., Nexans, Prysmian Group, Rockwell Automation, Schneider Electric, and Siemon.
Speaking of materials, copper cables contributed the most revenue to the Ethernet cable market last year, according to Hexa. But, it says, because fiber optic cables offer an array of benefits they should increase marketshare between now and 2024.
“Copper cable dominated the global market and is growing at a CAGR of 10 percent over the forecast period owing to its ability to provide high-speed connectivity at a low price, and are the most viable choice in industrial applications,” Hexa Research wrote. “However, it is estimated that the fiber optic cable is expected to grow significantly over the forecast period due to benefits provided by it such as long distance connections, higher speed & durability and high efficiency of the internet.”
In terms of geography, the Asia Pacific is the part of the world with the greatest demand for Ethernet cables. Hexa Research said Asia-Pac accounted for 35.6 percent of that revenue last year. And China, it said, has the highest demand for fiber optics within the region.
Edited by Alicia Young