The latest industry research report on Residential Cable Market by MRC provides a thorough analysis of the Global Residential Cable Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Residential Cable industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

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key players in the global residential cable market: Belden, General Cable Technologies, Nexans, NKT group, Polycab, and Prysmian Group.

Other Prominent Vendors in the market are: Amphenol, Anchor Electricals, Finolex Cables, Habia Cable, Havells India, Hengxin Technology, KEI Industries, Kingsignal Technology, Legrand, LS Cable & System, Trigiant Group, V-GUARD INDUSTRIES, W. L. Gore & Associates, and Zhuhai Hansen Technology.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing popularity of fiber optic cables. Fiber optics is a method of transmitting information through a fiber optic network cable, which contains strands of glass fibers inside an insulated casing. These cables are designed for long distance, high-performance data networking, and telecommunications.”

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According to the report, one driver in the market is rise in rural electrification. Rural electrification is the process of delivering power to the remote or rural areas of a country. The expansion of electricity services and electrification are crucial for the social and economic development of any country. Currently, electricity services in the rural areas in emerging economies are in the developmental stage, with the governments of these countries introducing various programs to improve the condition of electricity in such areas. With the rise in such initiatives, the market potential for residential cables, which find use in a variety of household applications along with their use as power cables, is likely to grow.

Further, the report states that one challenge in the market is declining CATV subscriber base in several countries. The cable industry has witnessed a decline in the number of TV subscribers in the developed nations where efficient Internet services are available. This decline is witnessed despite the rise in the number of cable broadband subscribers and is attributed mainly to customer preference toward satellite TV, streaming, and IPTV-based services. Streaming service providers such as Hulu, Netflix, Hotstar, and Amazon Prime Video offer monthly access to online shows at a price that is lower than the CATV subscription rate. Such services are also known as subscription video-on-demand (SVoD).

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The cables and wires industry has witnessed a significant growth over the past two decades. The industry has transformed from a small-scale to a large-scale industry in the current period. The substantial growth witnessed in the industrial, manufacturing, and construction sectors has resulted in the development of all the economies across the globe. The growth in commercial and residential construction has played a crucial role in driving the market for wires and cables.

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