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Europe AV Cable Market is expected to reach US$ 15,012.52 million by 2030

Europe AV Cable Market is growing at a CAGR of 8.4% to reach US$ ? 15,012.52 million by 2030 from US$? 8,051.27? million in 2023 by Type, and Industry Vertical.

By The Insight Partners

Huge Job Opportunities Broadcasting Industry Boosts Europe AV Cable Market Growth

According to our latest study on “Europe AV Cable Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Staffing Type, Recruitment Channel, and End User,” the market size is projected to grow from US$ 8,051.27 million in 2022 and is projected to reach US$  15,012.52 million by 2030; it is expected to grow at a CAGR of 8.4% from 2023 to 2030.

The Europe AV cable market is segmented into Germany, France, the UK, Russia, and the Rest of Europe. Increasing demand for high-speed connectivity and growing video gaming and broadcasting industries are driving the adoption of AV cables. The growth of the video game industry in France is boosting the growth of the AV cable market. AV cables enable TV screens and speakers to render video and audio. According to CYBERCREW.UK., in 2020, the video game industry in the UK was the largest in Europe and the fifth-largest globally. In 2020, consumers in the UK spent EUR 4.2 billion (US$ 4.7 billion) on video games. The gaming market in the UK has gained a 14.5% growth from 2019 to 2020. Moreover, the demand for the 5G download speed in the UK is increasing. The demand for 5G connectivity is fueling the adoption of fiber optic cables in the country. According to OOKLA, the 5G operators in the UK were providing their 5G services at 4,250 sites in the UK in May 2023, an increase of 2,220 from 2022. Therefore, the Europe AV cable market size is anticipated to grow during the forecast period.

Europe AV Cable Market – Revenue and Forecast to 2030 (US$ Million)

Source: The Insight Partners Analysis

The Europe AV cable market is bifurcated into type and industry vertical. Based on type, the AV Cable market is categorized into SDI coaxial cables and (BNC) connectors, fiber optical cables and connectors, HDMI and IP cables, patchbays, and audio cable. Based on industry vertical, the AV Cable market is segmented into sports and live events, museum and attractions, retail, healthcare, hospitality, education, broadcast, and others. Geographically, the Europe AV cable market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe.

Impact of COVID-19 Pandemic on Europe AV Cable Market Growth

According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic has affected major economies such as Germany, France, Italy, and Russia, which experienced inflation and a slowdown in the economy. Due to the emergence of the COVID-19 outbreak, the Europe AV cable market witnessed a decline in the demand for cables, which led to low revenue generation for the vendors. However, the production increased rapidly after the initial drop. The manufacturing facilities of the electrical, electronics, and semiconductors industries were temporarily discontinued owing to the slowdown and unavailability of the workforce across Europe. Further, travel bans and disruptions in manufacturing and production due to facility shutdowns were a few factors that led to workforce shortages, which led to a slowdown in the AV cable market growth in the region in 2020. During lockdowns, many organizations in Europe suffered a major loss of revenue and business due to the shutdown of manufacturing units. In addition, to combat the economic slowdown, the French government took various initiatives. According to the report by International Institute for Sustainable Development, the French government, in 2020, unveiled a €100 billion stimulus package to aid in the nation's recovery from the COVID-19-related economic downturn to obtain 100% fiber coverage in France; of which €240 million was planned to be given to the public fiber networks. Thus, such government initiatives are expected to support the AV cable market growth in Europe during the forecast period.

Amphenol Corporation, Prysmian Group, and Belden Inc. are among the key market players operating in the Europe AV Cable market.

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