The global RF cable market is expected to grow by $2.7 billion in 2020-2024, with a compound annual growth rate of nearly 7%, according to a report released by Technavio, an international market research organization.
From a regional perspective, Asia Pacific is the largest RF cable market in 2019. It is expected that 49% of the market growth will come from the Asia Pacific region in the forecast period. China and Japan are the main markets for RF cables in the region. More and more broadband users and constant investment in 5g technology will greatly promote the growth of RF cable market in the region. Overall, the market growth in the Asia Pacific region will be faster than that in other regions in the forecast period.
According to the report, the continuous development of smart cities used to effectively manage assets and resources in the global economy is one of the key factors to promote market growth. Governments are working with different IT solution providers, telecommunications network infrastructure providers and several others. For example, multinational companies including IBM, Microsoft and Cisco Systems are taking a number of initiatives and are committed to developing IT solutions to develop smart cities.
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