High definition multimedia interface (HDMI) cable market size expected to reach USD 4.41 billion by 2028
Escalation in demand for gaming consoles, TVs and video streaming services worldwide are set to push the demand of High Definition Multimedia Interface ( HDMI ) Cable Market
The global HDMI cable market is expected to reach USD 4.41 Billion by 2028, according to a new report by Reports and Data. HDMI is used for transferring uncompressed large amount of data. It is used for connecting high definition (HD) equipment. It had found a niche in the modern world and companies are using it commonly to transfer data, video or audio. It is an intelligent interface that delivers a very high quality data without any glitch. It is used to connect large display screens, TV screens or monitor screens.
HDMI was founded by Toshiba, Philips, Hitachi, Thomson, Sony, Panasonic, Silicon Image and RCA. It is supported by big brands like Warner Bros., Fox, Disney and Universal along with system operators EchoStar and DirecTV due to its high application in large screens.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 34% in the forecast period. Most of the companies working with HDMI cables are located in this region. Desire for high quality viewing experience is driving the growth of this market. High demand is from developing nations of this region mainly due to availability of skilled labor and emerging companies that deal with large amount of data.
However, advent of wireless HDMI cable is hindering he growth of the market.
Key participants include Tripp Lite, Shenzhen Dns Industries Co., Ltd, Koninklijke Philips N.V., Panasonic Corporation, Nordost, Kramer Electronics Ltd, Hitachi Ltd., Sony Corporation, Ce-Link and Belkin International, Inc.
Further key findings from the report suggest
• The segment for application is set to dominate the market size with an increase in disposable income and emergence of new buildings, commercial or otherwise, is leading to installation of projectors and TVs in them. This has significantly boosted the market. With rise in desire for high quality viewing option the HDMI cables are set to grow in coming years.
• Asia Pacific is forecasted to grow at a CAGR of 4.1% in the coming years. Most of the companies are located in this region. With the emergence of internet and growth of telecom, the demand from APAC has increased exponentially. Need for safe and secure, efficient and high speed data are fueling the market in this region.
• Key participants include Tripp Lite, Shenzhen Dns Industries Co., Ltd, Koninklijke Philips N.V., Panasonic Corporation, Nordost, Kramer Electronics Ltd, Hitachi Ltd., Sony Corporation, Ce-Link and Belkin International, Inc.
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