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(MoneyNewsWire.Net, December 11, 2018 ) The global communication and energy wire and cable market, a part of the electrical and electronics manufacturing industry, grew at a compound annual growth rate (CAGR) of around 3% during the historic period. The growth is Increasing Use Of Polymer Optic Fiber. Polymer optic fiber is widely being used in automotive, aircraft manufacturing, electronics and other industries apart from telecommunications industry
In the forecast period, the global communication and energy wire and cable market size is expected to be over $390 billion by 2021, growing at a CAGR of nearly 3%. This is expected due to rising demand for fire resistant cables in the communication and energy wire and cable industries globally. Furthermore, rising population, increasing fire resistant cables production capacities, and increasing per capita incomes are expected to drive the global communication and energy wire and cable market in the future.
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One of the major reasons for growth of the market is rapid increase in the demand for miniature connectors in industries such as mobile technology, aerospace, defense and medical equipment to enhance connectivity and minimize space in electrical and electronic devices. Miniature connectors’ also known as micro connectors include subminiature, micro miniature and ultra-micro miniature connectors. Major companies in the communication and energy wire and cable market, offering miniature connectors include Sumitomo Electric Industries Ltd, Prysmian Group And Furukawa Electric Industries Ltd.
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