October 23, 2018 - The global cable management market is predicted to grow at significant CAGR during the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for converged infrastructure and high density servers is anticipated to drive the market. Cable management ensures effective power distribution and easy customization. It provides enhanced safety and requires low maintenance. In addition, it can reduce deployment time of systems, optimize cable bandwidth, and provide high cable density. All these factors are anticipated to contribute to market growth in near future.
High demand for networks offering high bandwidth globally demanding strong management structure and efficient fibers can influence growth of market. In addition, continual technological advancements in telecommunication and infrastructure sector coupled with increasing repair and maintenance activities of existing technology can further fuel market growth. Moreover, ongoing developments in commercial and residential construction in developing economies are expected to augment demand for advanced cable management solutions over the forecast period.
Most companies are focusing on R&D activities to develop innovative products and to gain traction among consumers. For instance, Epson recently launched PowerLite Pilot 3 connection and control box that can maximize cable management and control for classroom projectors. It can be easily mounted on walls and supports an array of devices. In addition, it can be used as an extension box to enhance range of cables. Moreover, the device is compliant with Restriction of Hazardous Substances (RoHS) and environment-friendly.
The worldwide cable management market can be segregated on the basis of material, application and region. Europe, North America, and Asia Pacific are the major regional segments of the market. North America held the largest market share in terms of revenue in recent past. High demand for innovative cable management solutions attributed to cost-effectiveness, safety and security, flexibility, and space-saving features are some of the major regional growth drivers.
Asia Pacific is expected to witness significant growth over the forecast period. This growth can be attributed to urbanization and rising population in the region. In addition, rising investments in energy, infrastructure, and technology development can positively influence growth of the market for cable management in the region. Moreover, increasing penetration of major market players in developing countries such as China and India owing to easy availability of raw materials and low labor costs can further fuel regional market growth. Introduction of billion dollar investment projects in India related to telecom, infrastructure, and energy can also surge demand over the forecast period.
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Europe is anticipated to witness steady CAGR over the forecast period. This expansion can be accredited to presence of various leading market players such as Nexans, Prysmian, and Legrand in the region. In addition, emergence of European economy from economic crisis of 2009 and improvement in labor market conditions can further fuel regional market in near future. Moreover, supportive government initiatives such as favorable industrial amendments and manufacturing regulations can augment market growth in the region over the next few years.
Some of the leading companies in the global cable management market are Thomas & Betts Corp., TE Connectivity Ltd., Niedax Group, HellermannTyton Group PLC, and Marco Cable Management.
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