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Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global RF cable market is expected to grow by $2.
7 billion, with a compound annual growth rate of nearly 7%.
Regionally, Asia Pacific was the largest regional market
for RF cables in 2019.
49% of the market growth is expected to come from Asia Pacific
during the forecast period.
China and Japan are the major markets
for RF cables in the region.
Increasing broadband users and continuous investment in 5G technology will greatly drive the growth
of the RF cable market in the region.
Overall, the market in Asia Pacific will grow faster than other regions
during the forecast period.
According to the report, the continuous development of smart cities for efficient management of assets and resources in the global economy is one of the key factors driving the growth of the
market.
Governments are working with
different IT solution providers, telecommunication network infrastructure providers, and several others.
For example, multinational companies including IBM, Microsoft, Cisco Systems, Schneider Electric are undertaking several initiatives and working to develop IT solutions to develop smart cities
.
The mission of smart cities is also gaining traction in emerging economies, including India, with plans to develop about 100 cities into smart cities
.
Factors such as the growth of smart city development will drive the RF cable market to grow
at a CAGR of nearly 7% during the forecast period.
Technavio, an international market research institution, recently released a report that from 2020 to 2024, the global RF cable market is expected to grow by $2.
7 billion, with a compound annual growth rate of nearly 7%.
Regionally, Asia Pacific was the largest regional market
for RF cables in 2019.
49% of the market growth is expected to come from Asia Pacific
during the forecast period.
China and Japan are the major markets
for RF cables in the region.
Increasing broadband users and continuous investment in 5G technology will greatly drive the growth
of the RF cable market in the region.
Overall, the market in Asia Pacific will grow faster than other regions
during the forecast period.
According to the report, the continuous development of smart cities for efficient management of assets and resources in the global economy is one of the key factors driving the growth of the
market.
Governments are working with
different IT solution providers, telecommunication network infrastructure providers, and several others.
For example, multinational companies including IBM, Microsoft, Cisco Systems, Schneider Electric are undertaking several initiatives and working to develop IT solutions to develop smart cities
.
The mission of smart cities is also gaining traction in emerging economies, including India, with plans to develop about 100 cities into smart cities
.
Factors such as the growth of smart city development will drive the RF cable market to grow
at a CAGR of nearly 7% during the forecast period.
