Fiber Optical Cable Global Market Report 2023 – By Product Type (Singlemode Cable, Multimode Cable), By Application (Telecom, Oil & Gas, Military & Aerospace, BFSI, Medical, Imaging, Railway, Other Applications), By Type (Glass Optical Fiber, Plastic Optical Fiber) – Market Size, Trends, And Global Forecast 2023-2032

The multimode fiber optic cable market consists of sales of multimode fiber cables and related services that are used in various industries such as telecom, broadcasting, military/aerospace, healthcare, and power. The multimode fiber cable is an optical fiber cable, which is designed to carry multiple light rays simultaneously with a slightly different reflection angle. Multimode fiber cable can be used for short distances as the modes disperse over longer lengths.

The single-mode fiber optic cable market consists of sales of single-mode fiber optic cables and related services that are used in various applications such as in data centers, community antenna televisions, military, telecommunication and networking, factory automation, and industrial networking. Single-mode optical fiber is an optical fiber designed to carry a single mode of light as a carrier that is used for long-distance signal transmission.

The communication and energy wire and cable manufacturing market consists of sales of communication and energy wires and cables by entities (organizations, sole traders and partnerships) that produce insulating fiber optic cable, and insulated nonferrous wire and cable from nonferrous wire drawn in other establishments.

Communication hardware is any device capable of transmitting analog or digital signals over a communication cable, telephone, or wireless technology. These devices are installed in a computer's internal memory or as a peripheral. The main types of communications hardware are general communication equipment, broadcast communications equipment and telecom infrastructure equipment. A general communication equipment are the equipment, switches, lines and systems used in connection with voice, data and other communications activities for exchange between two stations, transmitter, and receiver. They are applied in military use and civil use. The end users of these hardware are telecom operators, internet service provider, cable operator, personal user and business and government institutions. The global communications hardware market is segmented - 1) By Type: General Communication Equipment, Broadcast Communications Equipment, Telecom Infrastructure Equipment 2) By Application: Military Use, Civil Use 3) By End-User: Telecom Operators, Internet Service Provider, Cable Operator, Personal User, Business and Government Subsegments Covered: Alarm Systems And Equipment, Fire Detection Equipment, Smoke Detectors, Intercoms Systems And Equipment, Traffic Signals, Other General Communication Equipment, Pagers, Transmitting Antennas, GPS Equipment, Cellular Telephone, Other Broadcast Communications Equipment, Switching Equipment, Bridges, Gateways And Routers, Other Telecom Infrastructure Equipment The global communications hardware market size grew from $685.28 billion in 2022 to $746.09 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The communications hardware market is expected to grow to $1027.51 billion in 2027 at a CAGR of 8.3%. The communications hardware market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human to computer interaction. Smart cities are integrated with communication equipment, thereby benefitting the companies operating in this market. APG Algemene Pensioen Groep N.V. announced investment of €250 million in “Smart City Infrastructure Fund”, for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. Major companies in the communications hardware market include Apple, Huawei, Samsung Electronics Co., Ltd., AT&T Inc., Compal Electronics, Inc., Cisco Systems, Inc., Xiaomi Corporation, Hon Hai Precision Industry, Lenovo Group Limited and T-Mobile USA, Inc. The communications hardware industry is increasingly targeted by hackers, so exposing various security issues. For instance, in December 2021, according to a report published by Darktrace, a UK-based provider of AI-based cyber security, in 2021, the information technology (IT) and communications sector was predicted to be the most targeted. According to Darktrace's research, in 2021, its artificial intelligence autonomously stopped an average of 150,000 threats against the industry per week. Additionally, the business discovered that email was the most frequently used method of attempted break-in, with businesses in the sector receiving an average of 600 different phishing campaigns each month in 2021. Hence, these security issues hindered the growth of the communications hardware industry during the historic period. Rapid increase in energy consumption has been a major threat to environmental protection and sustainable development, thus driving the development of green technologies. For instance, communications hardware accounts for about 2%-4% of the total global carbon emissions. Due to access to the high-speed internet provided by next-generation wireless networks and increased smartphone usage, data traffic has increased significantly. This has triggered a significant expansion of network infrastructures and increased the energy demands. Environment friendly batteries, renewable energy sources, and intelligent management of the power systems are being developed to reduce carbon emissions. In January 2020, Samsung Electronics Co., Ltd., a South Korea-based electronics company completed the acquisition of TeleWorld Solutions (TWS), for an undisclosed amount. The acquisition will help Samsung to meet the growing needs of the mobile carriers’ for improved 4G and 5G networks. TeleWorld Solutions is a US-based company that offers design, testing and optimization services to mobile service and cable operators, equipment OEMs and other companies. Asia-Pacific was the largest region in communications hardware market in 2022. Western Europe was the second largest region in communications hardware market. The regions covered in the communications hardware market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the communications hardware market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The communications hardware market consists of sales of telephone apparatus, and broadcasting and wireless communications hardware. It includes sales of wired and wireless communication hardware equipment. Examples of telephone apparatus hardware are central office switching equipment, cordless telephones (except cellular), PBX equipment, telephone answering machines, local area network (LAN) modems, multi-user modems and other data communications equipment such as bridges, routers and gateways. Examples of broadcasting and wireless communications hardware include transmitting and receiving antennas, cable television equipment, Global Positioning System (GPS) equipment, pagers, cellular phones, mobile communications equipment, and radio and television studio broadcasting equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The communications hardware market research report is one of a series of new reports from The Business Research Company that provides communications hardware market statistics, including communications hardware industry analysis, communications hardware market size, regional shares, competitors with a communications hardware market share, detailed communications hardware market segments, market trends and opportunities, and any further data you may need to thrive in the communications hardware industry. This communications hardware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The communication and energy wire and cable market consists of sales of communication and energy wires and cables by entities (organizations, sole traders, and partnerships) that produce insulating fibre optic cable and insulated nonferrous wire and cable from nonferrous wire drawn in other establishments. The main types of communication and energy wire and cable are other cables and fibre-optic cable. The cable designs are ribbon tube, loose tube, tight-buffered, central core, and other cable designs. The deployments are underground, underwater, aerial, and other deployments. The global communication and energy wire and cable market size is expected to grow from $146.89 billion in 2021 to $162.23 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global communication and energy wire and cable market size is expected to grow to $201.19 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%. The growth in the communication and energy wire and cable market is due to increasing infrastructure and rapid population growth. Population refers to the whole number of people or inhabitants in a country or region. A wire is used to carry electricity, bear mechanical loads, transmit telecommunication signals, and heat jewellery, clothing, automobiles, or any industrially manufactured parts like pins, bulbs, and needles. For instance, in June 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, the current population of China is 1,450,341,718. Therefore, rapid population growth is driving the growth of the communication and energy wire and cable market. Polymer optic fibre is widely used in automotive, aircraft manufacturing, electronics, and other industries apart from the telecommunications industry. Polymer optic fibre, which is similar to glass optic fibre, is made with polymer and transmits light through the core of the fibre. It comprises polymethyl methacrylate (PMMA) which facilitates light transmission, along with fluorinated polymers, which are the cladding material. Polymer optic fibres are lightweight, comparatively less expensive, and support bit rates of up to 10Gbps. Polymer optic fibre applications include the Internet of Things, home networking, and sensors for structural health monitoring. Major companies offering polymer optic fibre include the following: Mitsubishi Rayon, Asahi Kasei, Asahi Glass, and Fujifilm. Major players in the communication and energy wire and cable market include Sumitomo Electric Industries Ltd., Prysmian Group, Furukawa Electric, Leoni AG, and Southwire Company LLC. Asia-Pacific was the largest region in the communication and energy wire and cable market. The regions covered in the global communication and energy wire and cable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the communication and energy wire and cable market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global communication and energy wire and cable market is segmented - 1) By Type: Fiber Optical Cable, Others 2) By Cable Design: Ribbon Tube, Loose Tube, Tight Buffered, Central Core, Others 3) By Deployment: Underground, Underwater, Aerial, Others

The insulated cable is a cable that is resistant to electric current as it consists of non-conductive material. Insulated cables are used in lights, fans, computers, television, and telephone. Insulated cables are used in various applications such as electrical equipment, construction, telecommunications, and motor vehicles. The main types in the insulated cables market are copper, aluminium, fiber optic, others. The copper in the insulated cables market refers to the wires that are insulated with copper. The various voltages are low voltage, medium voltage, high voltage. These are used in electrical equipment, construction, telecommunications, motor vehicles, and industrial machinery. The global insulated cables market is segmented - 1) By Type: Copper, Aluminum, Fiber Optic, Other Types 2) By Voltage: Low Voltage, Medium Voltage, High Voltage 3) By Application: Electrical Equipment, Construction, Telecommunications, Motor Vehicles, Industrial Machinery The global insulated cables market will grow from $117 billion in 2022 to $125.3 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global insulated cables market is expected to grow to $158.77 billion in 2027 at a CAGR of 6.1%. Increased use of insulated cables and wires in the automotive sector will enhance the growth of the insulated cables market. Insulated wires are used to handle unique stress during the manufacturing process in the automotive industry and are also used to connect car batteries with other components. The heavy demand for insulated wires in the automotive industry is supported by the wide range of insulting wires offered by the manufacturers in the insulated cables market For instance, In April 2022, In a report published by European Automobile Manufacturers Association, a lobbying and standards group of the automobile industry in the European Union, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the increasing use of insulated cables and wires in the automotive sector is driving the growth of the insulated cables market. Major players in the insulated cables market are Southwire, General Cable, 3M, ABL Electronic Supplies, Inc., AFC Cable Systems, Amphenol Corp., Asia-Pacific Wire, and Cable Corporation Limited, Belden Inc., Cable USA, and LS Corporation Poor heat resistance is expected to limit the growth of the insulated cables market. The insulated cables are less resistant to high temperatures causing the wear and tear of the coated material outside the wire. The insulation material declines over some time increasing the risk of short circuits. For instance, the cross-linked polyethylene (XLPE) wires can operate at a temperature of 105 degrees for a limited time without reducing the service life of the cable however the wire when exposed to a temperature exceeding 200 degrees Celsius, will result in a short circuit. XLPE wires are made up of cross-linked polyethylene and insulated with an aluminum conductor. Therefore, the poor heat resistance in insulated cables limits the growth of the insulated cables market. The latest trend in the insulated cables market is the development of efficient, reliable, and eco-friendly cables used for power transmission. The new cables are produced to provide power transmission across long distances coupled with high thermal performance and high reliability. The new eco-friendly cables that reduce carbon emission, represent the next generation solutions for land cable systems. For instance, in April 2021, Prysmian Group, an Italy-based company specialising in the production of electrical cable, launched ECO CABLE. The cable industry's first certifiable green product label for the energy transition. The ECO CABLE label is assigned automatically based on recognised and measurable criteria derived from the EU Ecolabel Regulation no 66/2010 and in accordance with the main regulatory frameworks and requirements, with a very specific focus on cable products such as carbon footprint, absence of substances of very high concern, recyclability/circularity, recycling input rate, environmental benefits, and cable transmission efficiency. The Asia-Pacific was the largest region in the insulated cables market in 2022. North America is the second-largest region in the global insulated cables market share. The regions covered in the global insulated cables market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the insulated cables market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia. The insulated cables market consists of sales of insulated cables copper cable, insulated aluminium cable, insulated fiber optic cable, and other insulated cables. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The insulated cables market research report is one of a series of new reports from The Business Research Company that provides insulated cables market statistics, including insulated cables industry global market size, regional shares, competitors with a insulated cables market share, detailed insulated cables market segments, market trends and opportunities, and any further data you may need to thrive in the insulated cables industry. This insulated cables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Media is the means or communication tool through which information, educational, entertainment, data, or promotional messages are disseminated. The main types of media are tv and radio broadcasting, film and music, information services, web content, search portals, social media, print media, cable, and other subscription programming. Print media refers to paper publications that are being circulated in the form of physical editions of books, magazines, journals, and newsletters. The different revenue models include subscription, advertisement, sponsorship, others and involve various applications such as wired, wireless. The global media market is segmented - 1) By Type: TV And Radio Broadcasting, Film And Music, Information Services, Web Content, Search Portals And Social Media, Print Media, Cable and Other Subscription Programming 2) By Revenue Model: Subscription, Advertisement, Sponsorship, Other Revenue Models 3) By Application: Wired, Wireless Subsegments Covered: Radio Broadcasting, Television Broadcasting, Music Recording, Film And Video, News Syndicates, Libraries And Archives, All Other Information Services, Social Media, Internet Search Portals, Digital Publishing And Content Streaming, Search Engine Optimization Services, Directory, Mailing List, And Other Publishers, Book Publishers, Newspaper & Magazines Publishers The global media market size grew from $2,195.19 billion in 2022 to $2,371.64 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global media is expected to grow to $3,200.17 billion in 2027 at a CAGR of 7.8%. Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create a potential impact on audiences. Live events such as sports and music are expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment. For example, NextVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate. It also partnered with an events company Live Nation to broadcast live music to music fans worldwide. The rise in demand for VR content is expected to drive the growth of the media market going forward. Major companies in the media market include Google, Facebook Inc., AT&T Inc., Netflix Inc., The Walt Disney Company, Apple, Tencent Holdings Co Ltd., CBS Corporation, Charter Communications Inc., and Sony Corp. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on some of the media markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of 'lock down'. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the media market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost-effective, lightweight, and reduce risks associated with cranes and cable cams during filmmaking. Autonomous drones are flying gadgets equipped with multiple rotors, a built-in high-resolution camera, and algorithms for capturing videos and pictures. It offers a 360-degree experiential recording experience with minimum human intervention. They are used to capture aerial shots, taking footage and images without having a cameraman on an actual helicopter. For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu, and EHANG. North America was the largest region in the media market share in 2022. Africa is expected to be the fastest growing region in the forecast period. The regions covered in the global media market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the media market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The media market includes revenues earned by entities by offering television and radio programs, motion pictures, and commercials, along with video and audio recordings, games, and publications. Examples of revenues are license fees, subscriptions, and payments for advertising. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The media market research report is one of a series of new reports from The Business Research Company that provides media market statistics, including media industry global market size, regional shares, competitors with a media market share, detailed media market segments, market trends and opportunities, and any further data you may need to thrive in the media industry. This media market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Electrical equipment produces products that generate, distribute and use electrical power. Electrical equipment's primary function is to accomplish work by converting electrical energy and controlling electrical energy, including protecting systems, property, and people. The main types of electrical equipment are electric lighting equipment, household appliances, power generation, transmission, and control equipment, batteries and wires, and cables. Home appliances are electrical machines that aid in household functions such as cooking, cleaning, and food storage. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used by B2B and B2C end users. The global electrical equipment market is segmented – 1) By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables 2) By End-Use: B2B, B2C 3) By Sales Channel: OEM, Aftermarket 4) By Mode: Online, Offline Subsegments Covered: General Lighting, Automotive Lighting, Back Lighting, Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance, Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls, Secondary Batteries, Primary Batteries, Other Cables, Coaxial Cables, Fiber Optical Cable The global electrical equipment market size grew from $1503.21 billion in 2022 to $1630.86 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of electrical equipment is expected to grow to $2190.31 billion in 2027 at a CAGR of 7.7%. The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is a key to attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and the latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of the electronic equipment manufacturing market during the forecast period. Major companies in the electrical equipment market include Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., Siemens AG, LG Electronics, Sumitomo Electric Industries Ltd., Panasonic Corporation, Schneider Electric SE, Qingdao Haier Co. Ltd., Daikin Industries Ltd., and Whirlpool Corp. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the electrical equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the electrical equipment industry will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. The increasing use of portable electronic devices such as smartphones and tablets has led to the development of USB receptacles. USB receptacles offer convenient access to charge any kind of electronic device. The use of USB receptacles also eliminates the need to carry charging adapters. For example, EATON manufactures USB receptacles that have tamper-resistant shutters and LED indicator lights and can be used to charge electronic devices such as tablets, mobile phones, cameras, and MP3 players. For instance, some of the major companies manufacturing USB receptacles include Eaton, GE, and Philips. Asia-Pacific was the largest region in the electrical equipment market in 2022. Western Europe was the second largest region in the electrical equipment market share. Africa was the smallest region in the global electrical equipment market analysis report. The regions covered in the electrical equipment industry overview report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the global electrical equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The electrical equipment and component market consists of sales of power converters (i.e., AC to DC and DC to AC), power supplies, surge suppressors, and other general electrical equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electrical equipment market research report is one of a series of new reports from The Business Research Company that provides electrical equipment market statistics, including electrical equipment industry global market size, regional shares, competitors with an electrical equipment market share, detailed electrical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical equipment industry. This electrical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.