Value of Cable Assembly Market Estimated at US$ 292.6 Billion by 2031
03 Sep 2022
The cable assembly market is projected to expand at a CAGR of 6.2% during the forecast period from 2022 to 2031. Integral role of cable assemblies in the production of diverse products, ranging from home electronics to wearables is driving the cable assembly market. Cable assemblies are extensively used in mass production, and are useful in saving time for an entire machine or individual equipment, due to numerous advantages such as high performance, minimal wastage of cable, and ease of set up among others. Range of attributes of cable assembly that make them significant for interconnecting electronic equipment, systems and components influences cable assembly market size. Cable assemblies feature an extensive range of connectors and terminals, which helps control input, output, data, and electrical current in an efficient and effective manner. Asia Pacific is at the forefront of global cable assembly market due to the presence of large number of cable assembly manufacturers in Japan, India, and China.
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