February 21, 2024

The global Cable Assembly Market Growth Accelerated by Technological Innovations and Digitalization

Cable assemblies are commonly used in various electronic devices to transmit electrical signals, power and data between various components and ports within such devices. Cable assemblies provide for fast, safe and reliable transmission while simplifying integration of components. Some key advantages of cable assemblies include high conductivity, flexibility, resistance to interference and corrosion. The growing adoption of consumer electronics, electric vehicles, industrial automation and advancement in telecommunication infrastructure is fueling the need for high quality and efficient cable assemblies.

The global Cable Assembly Market is estimated to be valued at US$ 167.40 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological innovations and growing digitalization across industries are some key trends fueling growth in the cable assembly market. Advancements in 5G connectivity, internet of things (IoT), machine learning and augmented reality/virtual reality (AR/VR) are driving higher demands for various types of cable assemblies. Cable assemblies with higher bandwidth, low latency and improved performance are being increasingly adopted to support growing data transmission needs. Major companies in the market are also focusing on rapid prototyping, custom designs, miniaturization and development of unique cable assembly solutions to tap new growth opportunities arising from emerging technologies.

Key players related content comprises – Key players operating in the cable assembly market are Amphenol Corporation, Molex LLC, TE Connectivity Ltd., Belden Inc., Prysmian Group, Carlisle Interconnect Technologies, Nexans SA, L. Gore & Associates Inc., Panduit Corp., Fischer Connectors, JST Manufacturing Co., Ltd., Samtec Inc., L-com Inc., 3M Company, and Smiths Interconnect.

Segment Analysis
The global cable assembly market is segmented based on product type, industry vertical, and region. Based on product type, the market is divided into data cable assembly, high speed cable assembly, video and RF cable assembly, customized cable assembly, and others. The data cable assembly segment dominates the market and accounted for the largest revenue share in 2023 due to widespread use of local area network cables for high-speed data transmission in various industries.

Regional analysis – North America region currently dominates the market and is expected to maintain its dominance over the forecast period. This is attributed to early adoption of advanced technologies and presence of major players in the region.

Key Takeaways
The global Cable Assembly Market is expected to witness high growth over the forecast period. The global Cable Assembly Market is estimated to be valued at US$ 167.40 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it