The global market for cable management systems is likely to report a remarkable growth in the coming years. The opportunity that this market holds is expected to expand at CAGR of 9.80% during the period from 2016 to 2024 and rise from US$14.7 bn in 2015 to a value of US$33.9 bn by the end of 2024.

The world is undergoing a period of rapid digitization, thanks to the emergence of fiber-optic and coaxial cables. The rise in wiring and cabling in devices as well as infrastructure is leading to increased incidence of cable spaghetti (a situation where cables are badly entangled), thereby accelerating the need for cable management systems across the world.

The advent of fiber-optic and coaxial cables has brought in rapid digitization across the world, leading to high utilization of wiring and cables in infrastructure as well as equipment.

The humongous growth of information technology and the increasing number of enterprises and institutions that employ high-performance cabling has fueled the demand for advanced cable management systems for data and communication applications, finds a new study by Transparency Market Research.

As a result, manufacturers of these systems are focusing aggressively on introducing new products and systems that are capable of adapting to these varying demands.

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According to TMR, an upsurge in the adoption of communication technology is imminent in the near future. Market participants will need to increase research and development activities to cope up with rapidly evolving technologies.

At the forefront of this market are Schneider Electric SE, Thomas & Betts Corp., Legrand SA, HellermannTyton Group Plc., Cooper Wiring Devices, and TE Connectivity Ltd.