Pre-terminated Systems Market Worth $3.2 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 4, 2019 /PRNewswire/ -- According to the new research report "Pre-terminated Systems Market by Component (Cables, Patch Panels, Patch Cords, Connectors, and Adapter Panels), Service (Design & Engineering, Installation, and Post-installation), Vertical, and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Pre-terminated Systems Market is expected to grow from USD 2.1 billion in 2019 to USD 3.2 billion by 2024, at a CAGR of 9.0%. The growth of this market is mainly propelled by the increasing formation of data centers and the rising demand for transmission bandwidth and network reliability. The growing trend of VoIP, LTE, and 5G networks is likely to provide lucrative opportunities to the pre-terminated systems market.
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Components to witness higher CAGR during 2019-2024
Components are expected to exhibit a higher CAGR in the pre-terminated systems market from 2019 to 2024. The component segment comprises cables, connectors, brackets and adapters, patch panels, patch cords, cassettes and modules, pigtails, and fiber enclosures. Pre-terminated systems not only lower the labor cost but also reduces congestion cable pathways and spaces, on-site installation time, and security-related risks.
Enterprises and data centers vertical expected to exhibit highest CAGR in pre-terminated systems market from 2019 to 2024
The pre-terminated systems market for the enterprises and data centers vertical is expected to grow at the highest CAGR from 2019 to 2024. In this vertical, the network of cabling systems plays a vital role in the smooth and faster transmission of voice, data, and video signals from one point to another or from one system to another by connecting two distinct user locations for sharing information. Pre-terminated solutions are used to provide a plug-and-play solution for links between switches, servers, patch panels, and zone distribution areas in data centers and IT and telecom facilities, thereby driving the growth of this market for these verticals.
Growing demand for connectivity solutions will boost demand for pre-terminated systems in APAC during foecast period
The pre-terminated systems market in APAC is expected to grow at the highest CAGR during the forecast period. Owing to the rapid urbanization and infrastructure activities, the market for pre-terminated systems is expected to grow in APAC. Data centers in this region are undergoing a dramatic change owing to the digital transformation of businesses. An increase in public and private sector investments in infrastructure projects to meet the demands of several industries, such as enterprise, banking, telecom, and government, is expected to drive the growth of the pre-terminated systems market in APAC.
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163 – Pages
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Key players in the pre-terminated systems market include TE Connectivity Ltd. (Switzerland), Optical Cable Corporation (US), Corning Incorporated (US), CommScope Holding Company, Inc. (US), Amphenol Corporation (US), HellermannTyton PLC (Austria), HUBER+SUHNER AG (Switzerland), Belden Inc.(US), Legrand SA (France), and Nexans SA (France). These players are increasingly adopting growth strategies such as product launches and developments, mergers and acquisitions, contracts, partnerships, and agreements to develop and introduce new technologies and products in the market.
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