According to a new report published by Allied Market Research, titled, "AV Cables for Residential Market by Type, Component, and Cable Category: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global AV cables for residential market size was valued at $273.0 million in 2018, and is projected to reach $502.1 million by 2026, growing at a CAGR of 7.7% from 2019 to 2026. The HDMI segment contributed nearly 30% share in 2018.
AV cables are the probes which are used by multimedia electronic devices for efficient input and output of audio and video signals. The AV cables for residential market is expected to grow swiftly that increases the adoption of audio-video devices and penetration of miniature multimedia devices.
The factors such as surge in usage of audio video devices, increase in demand for 4K/UHD televisions, rise in penetration of miniature multimedia devices, and increase in innovation of multimedia devices, and growth in adoption of 4K/UHD TVs in households are expected to drive the growth of the residential market. However, rise in adoption of wireless streaming platform reduces the need for AV cables and is expected to hinder the AV cables for residential market growth.
Nonetheless, advancements in HDMI cable for higher bandwidth applications coupled with display technology and growth in the multimedia & entertainment industry in emerging economies is projected to offer remunerative opportunities for the AV cables for residential market. The most commonly used HDMI version is HDMI 2.0a and HDMI 2.0b. The ports are a higher variant of HDMI 2.0, which offers advanced display technology called High Dynamic Range. Moreover, the emergence of media & entertainment industry has resulted in greater penetration of TVs and Cable TV network to households. Broadcasting channels provide information to consumers across different regions in different languages, which increases the demand for TVs and subscription for cable TV channels.
In 2018, the HDMI cable segment contributed over a 30% share in the AV cables for residential market and is expected to maintain its dominant position throughout the analysis period. Among the components such as connectors and adapters used with AV cables, the connectors secured highest share in 2018. However, adapters are expected to showcase highest growth rate during the forecast period, owing to increase in demand for convertible solutions. Moreover, North America is the major revenue contributor, owing to advancements in AV cables for use in latest display technologies such as 4K, 8K, and others.
The coaxial cable segment contributed the highest revenue share of about 40% in 2018. Coaxial cables and connectors are used to connect cables to other devices and are specifically designed to maintain shielding on the cable. High-quality connectors offer reliable and long-lasting connections. They are used for audio and video transmission in multimedia devices. Cable provides shield and insulation to the copper wire in coaxial cables. They are mostly used in cable TV services provided to end users. These further provide greater bandwidth in comparison to twisted pair cables. Therefore, advancements in coaxial cables foster the growth of the global market. For instance, 4-Feet Digital Audio Coaxial Cable by Amazon, which is high-purity coaxial cable, connects RCA-compatible digital audio components with aluminum braiding and dual foil shielding for crisp, clear audio.
Key Finding of The AV Cables for Residential Market:
- In terms of revenue, HDMI contributed the maximum AV cables for residential market share in 2018, and is expected to maintain its lead throughout the forecast period.
- Adapters are expected to grow at the highest CAGR during the forecast period.
- In 2018, the coaxial cables segment held nearly two-fifths of AV cables for the residential market share, which was the highest among all cable categories.
- In 2018, North America accounted for over a 35% share globally, and is expected to dominate the AV cables for residential market forecast.
Region-wise, the global AV cables for residential market trends are analyzed across North America Europe, Asia-Pacific, and LAMEA. In 2018, in terms of revenue, North America accounted for 35.7% of the total market revenue and is expected to retain its dominant position. However, the Asia-Pacific region is expected to grow at the highest CAGR, owing to advancements in these multimedia devices and rise in purchasing capacity have led to their further adoption in the region, followed by huge population base.
The major companies profiled in the AV cables for residential market report include Amphenol Corporation, AV Supply group, Black Box Corporation, Belden Inc., Commscope, Foxconn Technology Group (Belkin), LEGRAND SA, Nexans, WESCO International (Liberty AV), and Prysmian Group. The report also includes profiles of some distributors including Extron, and Eurocables.