Cable Assembly Market Size, Share, Growth Analysis, By product(Custom/Application Specific Assemblies, Rectangular Assemblies, Radio Frequency (RF) Assemblies, Circular Assemblies), By application(Automotive, Telecom, Computers and Peripherals, Industrial), By Region - Industry Forecast 2024-2031

Global Cable Assembly Market size was valued at USD 157.63 billion in 2022 and is poised to grow from USD 167.56 billion in 2023 to USD 273.17 billion by 2031, at a CAGR of 6.30% during the forecast period (2024-2031).

Cable assemblies are generally used to protect cables and transport power, signals, and information to the intended use. The cable assembly is simple to set up, fix, and maintain, which speeds up replacement processes. In order to expand after the COVID-19 epidemic, cable assembly businesses are currently concentrating on high-growth applications including high performance computing (HPC), artificial intelligence (GPU to GPU), core routing, switching, and infotainment systems. Due to the multiple benefits provided by cable assembly, such as minimum cable waste, excellent performance, convenience of set up, etc., the market is thus anticipated to expand at a considerable rate throughout the forecast period.

The cable assembly market Growth is due to rising need for high-speed cable assemblies for computers, servers, switches, and other data and communication equipment. Additionally, it is projected that the increased consumer adoption of PCs, laptops, and the internet would fuel the expansion of the cable assembly business. Additionally, it is predicted that the growing demand for high bandwidth communication will restrain the expansion of the cable assembly industry. On the other hand, it is anticipated that the price increase relative to wire harnessing will restrain the expansion of the cable assembly market over the forecast period.

US Cable Assembly Market  is poised to grow at a sustainable CAGR for the next forecast year.