Allied Market Research released a report that the North American patch cord cable market will reach $2.39 billion by 2025, with a compound annual growth rate of 12.3%.
The report believes that the surge in demand for high-speed connections and advances in cable technology have driven market growth. However, the negative impact of the Internet of things technology in the region has also hindered the growth of the market to some extent. On the other hand, the development of data centers and the emergence of the 5G technology revolution have created more opportunities for market growth.
In 2018, copper cables accounted for more than half of the North American patch cable market and will remain dominant throughout the forecast period, primarily due to increased availability in distribution, telecommunications and other applications. However, due to the surge in the use of telecommunications and computer networks, the growth rate of fiber-optic cables is the highest, with a compound growth rate of 15.7% expected during the forecast period.
In terms of product types, CAT 6 cables account for the largest share of market revenue, reaching more than 25%. However, during the forecast period, with the demand for high-speed connections, CAT 7 cable will increase at the fastest compound annual growth rate of 26.8% during the forecast period.
From the application field, the network sector has the highest growth rate, with a compound annual growth rate of 12.7% during the forecast period. From a country perspective, the United States will dominate the North American market, with a market share of more than 75% in 2018. This is because the accessibility of various data centers is easy. However, due to increased investment in the domestic cable manufacturing industry, Canada is estimated to grow at a compound annual growth rate of 14.9% from 2018 to 2025.
