LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global industrial communication cables market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global industrial communication cables market will grow at a CAGR of over 12% during the forecast period. The increasing penetration of Power over Ethernet is a major factor driving the market’s growth.
Power over Ethernet enables a single 8-wire Ethernet cable to transmit data and direct current. Power over Ethernet is used as an essential power feature of a network switch, or via peripheral devices, installed between the switch and the physical devices in the network. The adoption of Power over Ethernet in industrial facilities has proven to be economical for the end-user while increasing the connectivity strength. Power over Ethernet also allows physical devices to be easily configured with a network.
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In this report, Technavio highlights the evolution of highly flexible industrial communication cables in the wake of wireless communication as one of the key emerging trends driving the global industrial communication cables market:
Evolution of highly flexible industrial communication cables in the wake of wireless communication
Several end-user industries have started using multiple networking systems. The end-user industries can choose from a number of options due to the introduction of wireless communication protocols. One system can be used for internal communications in an industry whereas the other can be used for external communications (i.e., the communication of an industrial facility with its conference rooms).
“Industrial communication cable manufacturers are facing issues related to the cable design for different environments. Industrial communication cables are designed for a specific range of temperature, pressure, and other parameters. However, this does not assure that these cables will run smoothly in rough environments. Industrial communication cables are also prone to external interference in the environment,” says a senior analyst at Technavio for research on automation.
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Global industrial communication cables market segmentation
This market research report segments the global industrial communication cables market into the following end-users (process industries and discrete industries) and key regions (the Americas, APAC, and EMEA).
The process industries segment held the largest market share in 2017, accounting for nearly 65% of the market. The high adoption of industrial communication protocols can be attributed to the early adoption of advanced technologies in process industries. The market share for this end-user is expected to decrease by 2022. The fastest growing end-user is discrete industries, which will account for about 35% of the total market share by 2022.
The Americas was the leading region for the global industrial communication cables market in 2017, accounting for a market share of approximately 44%. The high adoption of the IIoT among the end-user industries is driving the demand for industrial communication protocols in this region. In APAC, the increasing industrial investments is expected to drive the market during the forecast period.
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