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According to the latest report by IMARC Group, titled “Cable Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global cable management market size reached US$ 22.85 Billion in 2021. A cable management system avoids detrimental situations by installing and insulating cables in electronic devices or communication systems. It involves setting up tools to secure cables used for electricity and data transmission services in a building in a quality-oriented, functional manner. It is used to route and branch cables in multiple directions, protect wiring components, track physical networks, and reassign surplus resources. Through cable management, regulatory authorities can verify code compliance and other quality mandates based on the traceability of different connections. Enhancing power supply protection, improving aesthetics and extending data asset life are some of the major advantages of this system. Due to its versatility, it finds application in numerous end-use industries, such as information technology (IT), construction, healthcare, manufacturing, marine, telecommunication, and energy.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cable Management Market Trends:
The global market is majorly driven by the escalating demand for developments in the telecommunication sector. This can be attributed to rapid digitization across the globe. In addition to this, the widespread network upgrades, along with the ongoing repairments and maintenance of the existing cable systems, are providing an impetus to the market growth. Significant growth in the information technology (IT) and telecommunication sector, coupled with the incorporation of advanced technologies, such as artificial intelligence (AI) and the internet of things (IoT) with cable management, are also fueling the market. Apart from this, the commercialization of renewable energy with an enhanced focus on sustainable development is further creating a positive outlook for the market. Some of the other factors propelling the market include the deployment of high-speed 5G and Wi-Fi networks and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 36.06 Billion by 2027, exhibiting at a CAGR of 7.8% during 2022-2027.
Market Summary:
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