Portland, July 13, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global AV cables for residential market generated $273.0 million in 2018, and is estimated to reach $502.1 million by 2026, registering a CAGR of 7.7% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

Increase in penetration of audio-video devices, rise in demand for 4K/UHD televisions, and upsurge in adoption of miniature multimedia devices drive the growth of the global AV cables for residential market. However, rise in popularity of wireless streaming platforms hinder the market growth. On the other hand, technological advancements in HDMI Cable for applications of high bandwidth create new opportunities in the coming years.

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Covid-19 scenario:

  • During the coronavirus pandemic, the demand for AV cables has been increased due to its application in audio-video devices for video conferencing and corporate meetings during “work from home”.
  • However, the sales channel and manufacturing activities have been negatively impacted during the global lockdown.

The report offers a detailed segmentation of the global AV cables for residential market based on type, component, cable category, and region.

Based on type, the HDMI segment contributed to the largest share in 2018, accounting for more than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the same segment is expected to register the highest CAGR of 9.8% from 2019 to 2026. The report also analyzes segments such as RCA, DVI, VGA, and others.

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Based on cable category, the coaxial cable segment accounted for the largest share in 2018, holding two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the fiber optics segment is estimated to portray the highest CAGR of 8.9% during the forecast period.

Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 10.2% from 2019 to 2026.

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Leading market players analyzed in the research include Amphenol Corporation, Black Box Corporation, AV Supply group, Commscope, Belden Inc., LEGRAND SA, Foxconn Technology Group (Belkin), WESCO International (Liberty AV), Nexans, and Prysmian GroupX.

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