world is moving towards improved standards of living as the developing economies such as South Africa, India, and Brazil, are going through rapid urbanization.
Portland, OR -- (SBWIRE) -- 10/26/2017 -- The cable management market is segmented based on the type, end user, and geography. Among the different types of cable management products, cable conduits constituted the maximum share of global revenue in 2015, owing to their strength, wide range of varieties, and compatibility for oil & gas, paint, and other industries. Cable tray was second largest revenue generating type in 2015 and is estimated to grow at the notable rate of over 11% during the forecast period. The demand for innovative cable tray solutions has increased worldwide because of their adoption in armored, metal-clad, and other cables.
Cable Management Market is expected to garner $25.1 billion by 2022, registering a CAGR of 12.4% during the forecast period 2016-2022. The insulation and installation of cables in electronic devices or communication systems to avoid detrimental situations is referred as cable management. The design of present cable management systems is quality oriented as well as functional. Varieties such as cable trays, conduits, raceways, optical fiber channels, and others, with a plethora of features, are available in the new-generation cable management solutions.
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Cable management products provide solutions for various industries for efficient use of energy and data management. Advancements in technology has driven this market to provide more compact and advanced products that are expected to meet end user requirements. The data centers in IT, high speed connectivity in telecommunication, heat- and temperature-resistant solutions in the aerospace and automobile industries, products with high strength in the construction industry and others are some of the evolved forms of cable management products.
Cable Connectors & Glands
End users demand cable management solutions on account of rising demand for product safety, reliability, and ability to meet relevant standards. In addition, lower installation cost is further fueling the market growth. The end users for cable management products are IT & telecommunication, construction, manufacturing & automation, energy, marine, mining, healthcare, and others. Among all, the commercial construction sector leads by contributing nearly 19% of global revenue in 2015 and is estimated to grow at a rapid rate of over 13% during the forecast period. The key reason for this increasing growth is immense use of cable management solutions in retail stores and rapid urbanization and industrialization happening in BRIC economies, which demands safety and proper management of cables.
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