Outdoor Kitchen Appliances Market is anticipated to exceed USD 35 billion by 2028. A rapid rise in the use of smart electronic devices is propelling internet consumption globally. According to the International Telecommunication Union (ITU), approximately 4.9 billion individuals have used internet services in 2021. Rising use of internet services requires the storage and management of data over network infrastructures, which will drive the market growth.
Data centre operators have been encouraged to upgrade cable architecture to meet their customers’ needs by higher transmission rates and increased bandwidth requirements. The expansion of the global market is being driven by the demand for real-time information, which necessitates faster and uninterrupted data transfer.
In the first half of 2020, several infrastructure development projects were temporarily put on hold as a result of the COVID-19 pandemic. Leading industry participants cut back on their investments in infrastructure solutions, which decreased the need for structured cabling. In order to provide the highest quality services to their clients, a variety of industries, including IT & telecom and BFSI, increased their focus on improving their cabling infrastructure in the second half of 2020. This factor prompted market players to launch fresh structured cabling options.
Increasing usage of software solutions for maintaining and managing the functioning of cabling infrastructures
A software package enables enterprises to maintain the performance, analysis, and operation of various cabling systems. Market leaders are offering cable management software that gives an overview of the system’s networking infrastructure, reducing the manual check of device connections. Software solutions that efficiently control complicated network infrastructures are being increasingly used by customers in different sectors such as BFSI, IT & telecom, and government. Moreover, the growing installation of modern cabling hardware solutions will increase the demand for cable management software to help in planning, project management, configuration, and monitoring of network architectures.
Growing digitalization in the BFSI sector will foster the structured cabling market progression
Demand for cabling solutions will rise as a result of government initiatives to increase the uptake of online banking services. For instance, the European Commission approved the agreement for the development of a unified payment solution for customers and merchants throughout Europe in September 2020. Sensitive customer data is being stored by the BFSI sector more and more, necessitating dependable storage options. Growing IT security risks have prompted businesses to invest in dependable data centre infrastructure management programmes, propelling the industry’s expansion.
Rising number of organizations are implementing cloud-based technologies
The growing adoption of cloud-based technologies in businesses will increase the acceptance of structured cabling solutions. Several companies in North America are transforming their infrastructure facilities into cloud-based systems for effective management and data security. For instance, in October 2021, Google LLC developed a new cloud region in Canada to improve business continuity planning through decentralized and secure infrastructure. The move will aid in meeting IT disaster recovery requirements while protecting data integrity. The industry is witnessing a rise in the demand for many servers and storage devices that will store a massive volume of data. Businesses are dependent on effective cabling solutions that reduce wiring complexities and improve data transmission between servers.
Innovation and upgrades in structured cabling solutions form a key strategy among market participants
As telecom operators are expanding their networks, companies are introducing new structured cabling solutions to accelerate fiber installations, service, and extension of connections. For instance, in August 2021, CommScope Holding Company Inc. introduced the Fiber Optic Splice Closure (FOSC) modular solution. This dome splice closure expands on FOSC’s lineage of advancement and safeguards fiber optic interconnection by introducing a new & reconfigurable seal configuration that uses NOVUX technology for fiber-deep configurations and implementation. The market players are focused on offering tailored structured cabling solutions for different industry verticals.
Prominent leaders operating in the market include ABB Ltd., Anixter International, CA Technologies, Cisco Systems, Inc., CommScope Holding Co., Inc., Corning, Inc., Fiber Mountain, Inc., Fujitsu Limited, Furukawa Electric Co., Ltd., General Cable Technologies Corporation, IBM Corporation, Legrand S.A., Metz Connect, Nexans S.A., Panduit Corporation, Reichle & De-Massari AG, RiT Tech (Intelligence Solutions) Ltd., Rittal GmbH & Co., KG, TE Connectivity, and The Siemon Company.