Cable Management Market Is Set To Garner Staggering Revenues By 2030

Research analysts at Transparency Market Research had placed the evaluation of the global cable management market at US$ 19.4 billion in the year of 2018. They predict that the industry will expand at a significant CAGR of 9.97 % over the forecast period of 2019 to 2027. They also project that the global cable management market will grow to hit the mark of US$ 45.6 billion at the end of the forecast period i.e. 2027.

Emergence of coaxial as well as fiber optic cables along with rapid paced global digitalization have bolstered the requirement for advanced products in the global cable management market. Rise of cabling and wiring in various devices and infrastructure along with rising instances of harmful cable entanglements are also boosting the demand for products in the global cable management market.

Cable Trays Emerge as Dominant Segment in Cable Management Market

Segments in the global cable management market by the type of the product include cable tray, raceway, cable conduit, cable gland, cable tools and lug, cable tags, cable ladder, cable trunking, cable connector, cable reel and chain, cable duct, and route markers, among others. Additional safety, compactness, maintenance free deployment, high weight holding capacity, and cost efficient design, are some of the key characteristics that have motivated the rising adoption of cable trays in numerous end use industries, most notably in oil and gas. This trend is anticipated to boost the global cable management market in coming years. The cable tray segment also reported highest share in the global cable management market during the forecast period, anticipated to record the revenue share of whopping 14%.

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Segments in the global cable management market by material type are non-metallic and metallic materials. Key end use industries for the products in the global cable management market include manufacturing, healthcare, mining, energy and utility, transportation and logistics, oil and gas, and construction (including commercial as well as residential construction). Many institutions as well as enterprises around the world have increasingly becoming dependent of information technology. This has created huge demand for high performance cabling, which, in turn, has fueled the demand for enhanced and latest cable management systems in the global cable management market.

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