Cable management systems are products that secure cables for data communication and electrical services in a building, organization, vehicle, plant, and industry. Cable management systems are mainly used in end-use industries such as telecommunication, IT, healthcare, power distribution, aerospace, maritime, oil and gas, automotive, manufacturing, and mining.
The cable management system market, which had a valuation of US$ 7,190.2 million in 2013, is expected to report a CAGR of 11.8% between 2014 and 2020. The primary factors fueling the cable management systems market have been identified by Transparency Market Research and are discussed below.
Browse Market Research Report of Cable Management System Market: http://www.transparencymarketresearch.com/cable-mangement-system-market.html
Growth in Construction Industry in BRICS Economies
The construction industry in the BRICS economies – Brazil, India, China, and South Africa – has seen tremendous growth in recent years. Along with economic growth and political stability, these countries have also been witnessing massive investments in construction and infrastructure projects such as large-scale transport projects and building of roads, bridges, and ports.
In addition, the rise in disposable incomes and improving standards of living in these economies has led to an increase in demand for housing, which spurs the overall construction industry. This development has had a direct impact on the demand for cable management systems.
The recovery of the construction sector in developed countries is also boosting the global cable management systems market.
Major Infrastructure Development Projects in MENA
People in the Middle East and Africa (MENA) region have been demanding better pubic services such as proper roads and electricity and cable networks. Last month, the Arab Fund for Economic and Social Development, the International Finance Corporation (a member of the World Bank Group), the Arab Petroleum Investment Corporation, and The Arab Investment Company invested US$125 million in the IFC Middle East and North Africa Fund, to provide equity financing to private companies to help spur infrastructural growth in the region.
Infrastructural development projects mean greater potential demand for cable management systems.
Browse Market Research Press Release of Cable Management System Market: http://www.transparencymarketresearch.com/pressrelease/cable-mangement-system-market.htm
Rising Demand for and Consumption of Energy Sources
There is a constant need to balance the escalating demand for energy and the focus on reducing energy consumption in order to protect the earth’s environment. Cable management systems play an important role in minimizing the consumption of wasted energy. Cable management systems that aid natural ventilation of cables are in considerable demand today. Steel wire cable containment systems, for instance, are largely popular owing to its speed of installation, reduced use of raw materials, flexibility, and ability to use energy efficiently.
Accelerating Bandwidth Requirements and Upgradation of Existing Networks
The rapid growth of internet-connected devices such as smartphones and tablets has revolutionized the consumption of broadband service consumption in homes. According to a Cisco report on bandwidth consumption and broadband reliability in the U.S., the percentage of homes with four or more internet-connected devices rose to 43% in November 2011, from 32% in May 2010. The amount of bandwidth consumption per home has also grown, leading broadband providers to build more complex home networks and upgrade existing ones.
The need of internet service providers to meet the evolving requirements of subscribers has fueled the demand for cable management systems in recent years.
Some of the prominent players functioning in the overall cable management systems market are Maxell Industries LLC, Legrand SA., Allied Tube & Conduit, Schneider Electric SE, TransDelta International Industries LLC, Cope, Cooper Wiring Devices, Kripson Electricals, Oglaend System Group, Thomas & Betts Corp., Voestalpine Metsec Plc., Marco Cable Management, Niedax Group, TE Connectivity Ltd., Chatsworth Products Inc., and Enduro Composites Inc.