Global Cross-Connect System Market Is Expected to Generate $7.1 Billion by 2031: Allied Market Research
Rise in investments in optical fiber cable (OFC) network infrastructure serves as a potential opportunity for the expansion of the global cross-connect system market. Based on type, the fiber segment held the highest share in 2021, accounting for nearly two-fifths of the global market. Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global market share.
Portland, OR, Feb. 07, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global cross-connect system market garnered $2.5 billion in 2021, and is estimated to generate $7.1 billion by 2031, manifesting a CAGR of 11.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
|Market Size in 2021||$2.5 billion|
|Market Size in 2031||$7.1 billion|
|No. of Pages in Report||290|
|Segments covered||Type, Application, and Region.|
|Drivers||Surge in usage of cross-connect system in datacenters Emergence of internet of things (IoT)|
|Opportunities||Rise in investments in optical fiber cable (OFC) network infrastructure|
|Restraints||Rise in concerns related to high installation cost|
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global cross-connect system market, owing to implementation of global lockdown which resulted to temporary closure of production and manufacturing facilities.
- Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the cross-connect system ecosystem, it’s calculated that the market had experienced a decline during 2019-2020.
- Furthermore, the pandemic had disrupted the global supply chain, thereby creating significant gap in supply chain. Economic impact of the pandemic has been disruptive. Key players operating in the cross-connect system industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop cross-connect system market solutions, which led to decreased revenues for the financial year 2020-2021.
- However, the market has recovered in 2021 and is expected to remain in the growth stage during the forecast period.
The research provides detailed segmentation of the global cross-connect system market based on Type, Application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the fiber segment held the highest share in 2021, accounting for nearly two-fifths of the global cross-connect system market, and is expected to continue its leadership status during the forecast period. However, the COAX segment is expected to register the highest CAGR of 14.21% from 2022 to 2031.
Based on application, the connectivity segment accounted for the highest share in 2021, contributing to around 90% of the global cross-connect system market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the Protection Switching and Network Restoration segment is expected to manifest the highest CAGR of 15.77% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global cross-connect system market share, and Europe is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 13.67% during the forecast period.
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Leading market players of the global cross-connect system market analyzed in the research include Huawei Technologies Co., Ltd., Optiwave Systems Inc., Sercalo Microtechnology Ltd., Xros Inc., CommScope, Equinix, Inc., CoreSite, Cyxtera Technologies Inc., Fujitsu Ltd., ZTE Corporation.
The report provides a detailed analysis of these key players of the global cross-connect system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cross-connect system market analysis from 2021 to 2031 to identify the prevailing cross-connect system market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cross-connect system market outlook assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cross-connect system market trends, key players, market segments, application areas, cross-connect system market forecast and market growth strategies.
Cross-Connect System Market Report Highlights
- CAT Cables
- Protection Switching and Network Restoration
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Market Players: Huawei Technologies Co., Ltd., Optiwave Systems Inc., Sercalo Microtechnology Ltd., Xros Inc., CommScope, Equinix, Inc., CoreSite, Cyxtera Technologies Inc., Fujitsu Ltd., ZTE Corporation
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