The global cable assembly market has been witnessing steady growth over the past few years owing to increasing demand from various end-use industries including electronics, IT & telecommunication, automotive, industrial, and defense among others. Cable assemblies find widespread application in connecting and transferring signals, power, and data between various components and systems. Rising electronics production worldwide as well as growing penetration of advanced technologies such as IoT, AI, and 5G networking is fueling consumption of cable assemblies on a global level. Furthermore, automation trends across industries are propelling demand for cable assemblies that can efficiently connect industrial machinery and equipment. The cable assembly market is anticipated to continue thriving over the forecast period with technological advancement and modernization of various sectors worldwide.
Market Dynamics:
Growing demand for electronics devices and components from consumer electronics, automotive electronics, and medical devices manufacturing is a key factor driving the global cable assembly market. In addition, the increasing adoption of machine connectivity solutions across the manufacturing sector coupled with rapid industrialization in emerging economies is augmenting market growth. However, the availability of cheap Chinese imports is a major threat as it intensifies price wars among manufacturers. On the other hand, rising focus towards the development of smart cities and the incorporation of connected devices offers significant opportunities for cable assembly providers, especially in fiber optic cables and networking solutions.
Key features of the study:
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