London, 3 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global interconnect market 2015-2019, which is expected to grow at a CAGR of 8.68% during the forecast period of 2014-2019.
The increase in demand for bandwidth that is fueled by the growing smartphone market is a key factor that is expected to boost growth in this market. Due to the increasing penetration of smartphones, many users are now gradually streaming music and videos from online libraries, which results in high data traffic. To avoid such instances, many companies are now expanding their bandwidth and increasing their investments in the telecom infrastructure, which will drive the prospects for growth in this market.
“The introduction of IT intelligence across the shop floor ensures real-time data from the connected devices. This enables communication and transportation of large amounts of data quickly and reliably, resulting in an optimized supply chain,” says Faisal Ghaus, Vice President of Technavio.
“Some of the industrial communication products are industrial ethernet, I/O links, and industrial wireless communication. These devices employ interconnects to ensure smooth operations.”
Key Market Drivers:
- Increasing Demand for Bandwidth
- Growing Demand for Mobility
- Growth in Data Center Construction Market
- Outsourcing Production to Developing Regions
Key Market Trends:
- Real-time Data for Industrial Applications
- Simplification and Consolidation of Products
- Emerging Smart Cable Guard Systems Market
Key Market Vendors:
- Amphenol Corp.
- Hon Hai Precision Industry Co., Ltd.
- Molex Incorporated
- TE Connectivity Ltd.
- Yazaki Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
