The global RF cable market is expected to grow by $2.7 billion in 2020-2024, with a compound annual growth rate of nearly 7%, according to a report released by technavio, an international market research organization.
a regional perspective, the Asia Pacific region is a large RF cable regional market in 2019. It is expected that 49% of the market growth will come the Asia Pacific region in the forecast period. China Japan are the main markets for RF cables in the region. More more broadband users constant investment in 5g technology will greatly promote the growth of the RF cable market in the region. Overall, the market growth in the Asia Pacific region will be faster than that in other regions in the forecast period.
According to the report, the continuous development of smart cities used to effectively manage assets resources in the global economy is one of the key factors to promote market growth. Computer cable governments are working with different IT solution providers, telecommunications network infrastructure providers several others. For example, multinational companies including IBM, Microsoft, Cisco Systems Schneider Electric are taking a number of initiatives are committed to developing IT solutions to develop smart cities.
The mission of smart cities has also attracted more more attention in emerging economies, including India, plans to develop about 100 cities into smart cities. In the forecast period, factors such as the growth of smart city development will drive the RF cable market to grow at a compound annual growth rate of nearly 7%.