LONDON--(BUSINESS WIRE)--The global reels and spools market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global reels and spools market is the growth in the data center market. With the increase in the volume of data generated in various industries, the demand for data centers is growing at an unprecedented rate. Companies such as Apple, Microsoft, and Facebook are rigorously investing in the development of their own data centers. For instance, in 2017, Apple invested about USD 1.375 billion in setting up a new data center in Iowa, US. The growth of the global data center market is expected to increase the demand for reels which are used to wind the optical fiber cables used in the day-to-day operations.
This market research report on the global reels and spools market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the expansion of 5G network as one of the key emerging trends in the global reels and spools market:
Global reels and spools market: Expansion of 5G networks
Several telecommunication companies across the world are focusing on the feasibility and compatibility of 5G network technology. Some of the established players have already launched 5G technology in the market. The growth in 5G technology is likely to boost the demand for cables necessary for the delivery of radio frequency signals to meet the growing demand for high transmission rates at low latency. Hence, the growth in the demand for cables is expected to accelerate the need for reels for the safe storage and transportation of cables.
Global reels and spools market: Segmentation analysis
This market research report segments the global reels and spools market by product (reels, and spools) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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