COAXIAL CABLE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Coaxial Cable Market Size and Trends

The global coaxial cable market is estimated to be valued at US$ 19.45 Bn in 2024 and is expected to reach US$ 33.02 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.

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Wide applications of coaxial cables across television distribution systems, cable television, and broadband internet are promoting the demand for coaxial cables. Additionally, increasing investments by service providers to enhance connectivity infrastructure and expand internet coverage to rural areas will also contribute to the market growth. Moreover, rising demand for high-speed internet and growing penetration of multimedia devices and smart home appliances are further expected to drive the coaxial cable market during the forecast period.

Increasing demand for high-speed internet and broadband connectivity

With more people working from home and relying on fast internet connections for streaming, video conferencing, online classes, and more each day, the demand for high-speed internet has increased dramatically across the globe. Coaxial cables play a vital role in delivering broadband internet into homes and offices as they are able to support much higher bandwidth speeds compared to traditional copper wires. They have become the preferred medium for internet service providers looking to offer subscribers speeds of over 100 Mbps which is considered broadband as per current FCC regulations in many countries.

As people expect lightning-fast load times and minimal interruptions online, providers are under pressure to upgrade their infrastructure to fiber or coaxial networks that can handle today’s data-heavy usages. This has led to billions being poured into network expansion projects focused on deploying fiber deeper into neighborhoods right up to the premises while using coaxial cables for the last mile connectivity. 5G rollout has also increased the need for high-bandwidth backhaul connections between cell towers and the core network, for which coaxial cables provide a cost-effective solution able to meet capacity needs.

With work from home and online learning here to stay even post pandemic, guaranteeing smooth video calls and streaming is paramount. This sustained rise in bandwidth demand can only be met through networks empowered by coaxial infrastructure. While providers scramble to enhance networks nationwide to maintain lucrative high-speed internet subscriber bases, it spurs greater usage of coaxial cables, driving significant market growth.

Growth in the Telecommunications and Broadcasting Sectors

The telecommunication and broadcasting industries have been rapidly evolving due to trends like increased smartphone and cable TV penetration, proliferation of Over-The-Top (OTT) media services, and migration to newer broadcast technologies such as IP and fiber networks. All of this has led to exponential growth in network traffic volumes as well as changes in infrastructure requirements. Coaxial cables play a vital supporting role for telecom and TV networks undergoing revamps.

In the telecom domain, coaxial cables are being widely used for FTTx deployments as the last mile connectivity between fiber nodes and customer points. They continue delivering linear TV and also carry high-speed internet into homes for cable MSOs and telecom operators. 5G rollouts across regions have surged the need for faster, high-capacity backhaul links between cell sites and the core using coaxial cables. Pay TV subscribers are also rising in developing nations, increasing broadcast network upgrades using coaxial transmission systems.

OTT streaming has put pressure on networks to efficiently manage traffic. Edge computing deployments are happening to reduce latencies for smooth streaming and connectivity. This involves shifting network assets closer to end-users, again driving deployment of coaxial cables. Evolving broadcast standards such as DOCSIS for cable and ATSC 3.0 for terrestrial TV have stimulated network modernization projects too. With demand across both established and new domains within telecoms and broadcasting expanding continuously, it ensures good growth opportunities for coaxial cable suppliers.

For instance, in June 2021, CommScope Holding Company, Inc., a global leader in network infrastructure solutions, announced the acquisition of the coaxial cable business of Shenzhen Kingsun Science and Technology Co., Ltd., a prominent manufacturer based in China. This strategic move aimed to strengthen CommScope's position as a leading provider of high-performance coaxial cables for various applications, including telecommunications, broadcasting, and networking.