In 2019-23, the global HDMI cable market has a compound annual growth rate of nearly 5%

According to a new research report by leading market research firm Markets and Markets, the global HDMI cable market size will grow by $1.
28 billion from 2019 to 2023, with a compound annual growth rate of nearly 5%.

Growing demand for 4K/UHD TVs and growing popularity of HDMI 2.
1 are the major factors
driving the growth of the market.

High-definition multimedia interface (HDMI) cables are used to transmit high-definition video and audio content, including 4K and 8K, and can be viewed
on high-definition-compatible electronic components such as TV screens, large displays, and monitor screens.
The demand for HDMI 2.
1 cables is rising worldwide because it offers faster speeds and better audio
.
The growing popularity of HDMI 2.
1 is one of the key trends in the HDMI cable market, which will positively
impact the market growth during the forecast period.

The demand for 4K/UHD TVs is increasing due to factors such as falling prices, increasing disposable income, increasing
number of commercial buildings, and growth in OTT channels.
HDMI cables provide an enhanced viewing experience
for 4K TVs by transmitting high-definition multimedia on the TV screen.
The growing demand for 4K/UHD TVs will be a significant factor driving the growth of the HDMI cable market, which will grow at a CAGR approaching 5%
during the forecast period.

From the perspective of product type, HDMI cables are divided into standard, high-speed and ultra-high-speed cables
.
The high-speed cable market accounted for the highest
market share of HDMI cables in 2018.
However, the ultra-high-speed market will set to be the market leader
by 2023.
During the forecast period, the ultra-high-speed segment will grow
at a faster rate than the overall market.
The standard and high-speed segments will grow at a slower rate than the overall market
.

In terms of regional markets, Asia Pacific had the highest
market share in 2018.
The market growth in this region will be faster than that of other regions, and Asia Pacific will hold the largest HDMI cable market share
over the entire forecast period.
China is the main market
for HDMI cables in the region.

The growing demand for HDTV screens with enhanced gaming experiences is expected to drive the growth
of the HDMI cable market in Asia Pacific.
The growth of the smart TV market and the adoption of new marketing plans and strategic partnerships among vendors will further drive the growth
of the HDMI cable market in the region.