Asia Pacific to Dominate Instrumentation Cable Market Through 2025
Rising need to improve
accuracy and speed of business processes to boost the growth of the global Instrumentation
cable market through 2025
According to
TechSci Research report, “Global Instrumentation
Cable Market By Type, By Application, By End User, By Region, Competition,
Forecast & Opportunities, 2025”, the global instrumentation
cable market is expected to grow at robust CAGR during the forecast period
on the back of increasing automation and remote monitoring systems in end use
industries. Major drivers for the growth of the instrumentation cable market
include technological advancements such as internet of things (IoT) and growing
utilization of advanced monitoring systems. Since, IoT and monitoring systems
require instrumentation cable for low-energy signal transfer, boosting the
instrumentation cable market, globally.
Additionally,
development of microprocessor based computerized instruments, therefore, strict
quality requirements are in place to ensure that instrumentation cables meet
the necessitated quality for the optimum transfer of signals, which is anticipated
to strengthen the demand for instrumentation cables over the next five years.
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Instrumentation cable
market, globally, can be segmented based on type, application, end user,
company and region. In terms of end user, market can be segregated into IT
& telecom, automotive, oil & gas, power, among others. IT & Telecom
and power are the leading segments in the instrumentation cable market due to
advent of Industrial Internet of Things (IIoT) and surging need for monitoring
and controlling electrical power systems.
Instrumentation
cables find application in various end use industries such as automotive,
power, oil & gas, IT & telecom, among others. IT & telecom and
power sectors have witnessed significant demand for these cables in the recent
years on account of their application in monitoring or controlling electric
power systems. Advent of IoT and IIoT and its adoption in industries for
gathering information is expected to further spur the adoption of instrumentation
cables through 2025.
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Southwire Company,
LLC, TE Connectivity Limited, TELDOR Cables & Systems Ltd., Olympic Wire
& Cable Corp., RPG Cables Ltd., Belden Incorporated, General Cable
Technologies Corporation, Prysmian S.P.A., Nexans S.A., Orient Cables (India)
Pvt. Ltd., among others are the leading players operating in global instrumentation
cable market.
“Asia-Pacific
dominated the global market for instrumentation cables in 2019 and the trend is
expected to continue during the forecast years as well. This is due to rapid
urbanization and industrialization in economies such as China, India, South
Korea among others in the region. Additionally, these countries plan to start
new electricity projects in the next five years, which is anticipated to positively
influence the growth of the instrumentation cable market through 2025.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Instrumentation Cable Market By Type, By
Application, By End User, By Region, Competition, Forecast & Opportunities,
2025” has evaluated the future growth
potential of global instrumentation cable market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
instrumentation cable market.
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