The State of the World Cable Assembly Market
New from Bishop & Associates, the 2024 World Cable Assembly Report takes a close look at cable assembly sales, markets, and products, and the global conditions that will shape this product area in the years ahead.
Cable assembly sales in 2023 were down – except in the regions where they were up. That unevenness describes a market at the center of ongoing technological shifts and geopolitical turmoil, including lingering pandemic supply chain issues, manufacturing exodus out of China, war in multiple regions, global inflation, material shortages, and a confluence of new technologies that have shifted demand into high-speed and high-power products areas. All these factors affected the cable market in 2023. Things are on track for improved performance in 2024, but many variables remain.
Cable Assembly Sales
Looking back, three key industries dominated the cable assembly market in 2022: Automotive, the largest segment with a market value of $59,121 million representing 27.6% of the overall market; Telecom/Datacom, with a market value of $41,104 million, or 19.2% of the market. Computers and peripherals was the third largest market sector, with a value of $26,733 million, or 12.5% of the total market value.
As we examine 2023 figures, Automotive is anticipated to remain the largest market segment in 2023, while Telecom, the second largest market sector in 2023, will continue to see strong demand. The fastest growing market segment is Telecom/Datacom with a five-year (2023 through 2028) CAGR of 8.0%. This market growth is primarily the result of the growth of mobile devices and the need for bandwidth and speed in the network infrastructure. The expansion of services, particularly in wireless, in emerging/developing countries is also a key factor. What types of cable products will these markets need this year and in the years ahead — and what regions and companies will produce them? How has the pandemic changed the demand across markets? What role will 5G, AI, automation, and electrification play in the development of new cable assemblies?
World Cable Assembly Market 2024, a new market research report by Bishop & Associates, takes a close look at cable assembly sales in regions, markets, cable product types, and providers that enable cable products to make connections for every technology. The report examines the past year’s performance and provides an outlook for the next five years. This 17-chapter, 230-page report includes breakdowns by region, end-use equipment sector, and cable assembly type, with numerical and graphic presentations that help readers understand this dynamic and essential part of the interconnect world. Constantly evolving technology is having a profound effect on the design and implementation of cable assemblies. Discover which cable assemblies will benefit most from this evolution and where to focus investments.
World Cable Assembly Market 2024 is available now. See other interconnect industry market research reports at Bishop & Associates.
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