Industrial Cable Monitoring Market by Type (Distribution Board, Junction Box, Conduits, Trunking, Cable Tray, Bus Bar, and Others), Material (Metallic, Non-Metallic), End Use (IT & Telecom, Commercial Construction, Healthcare, Energy, Manufacturing & Automation, Marine, Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
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Jul 2020 |
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Industrial cable monitoring is a device that is installed in the form of cables in electronic devices or communication systems to prevent from detrimental situations such as abnormalities, failures, and extreme conditions. It plays an important role in electricity and data transmission. Industrial cable monitoring helps in managing the systems that further minimize planning process by properly maintaining documented physical networks. Moreover, it ensures effective power distribution; provides enhanced safety, easier customization, and communication; and requires low maintenance.
The industrial cable monitoring market is expected to witness considerable growth from 2019 to 2026 due to increase in demand for the devices able to monitor the abnormalities in the working process. Furthermore, rapid advancements in infrastructure & telecommunication and high frequency of repair and maintenance of the existing technology foster the growth of the industrial cable monitoring management market. In addition, increase in growth of the IT & telecom and e-commerce sectors and rise in R&D activities for the development of 5G technology boost the industrial cable monitoring market growth.
The factors such as increase in government initiatives toward for the promotion of monitoring devices across various industry verticals and rise in demand for the energy-efficient applications drive the growth of the industrial cable monitoring market. However, high cost and intense competition among domestic players and variation in raw material prices restrain the market growth. Furthermore, growth in usage of sensor-enabled equipment, increase in dependence on the technologies, and incorporation of IoT in cable monitoring are anticipated to provide lucrative opportunities for the growth of the industrial cable monitoring market.
The industrial cable monitoring market share is segmented into type, material, end use, and region. Based on type, the market is classified into distribution board, junction box, conduits, trunking, cable tray, bus bar, and others. Based on material, the market is bifurcated into metallic and non-metallic. By end use, it is segregated into IT & telecom, commercial construction, healthcare, energy, manufacturing & automation, marine, mining, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the industrial cable monitoring industry include Cooper Industries (Eaton), Legrand, Prysmian S.p.A., Atkore International Holdings Inc., Leviton Manufacturing Co., Inc., Panduit, Thomas & Betts (ABB group), Chatsworth Products, Nexans, Schneider Electric SE, and HellermannTyton. These key players focus on R&D activities related to industrial cable technologies and adopt various strategies such as acquisition, mergers, collaboration, and others to enhance products in the market.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the global industrial cable monitoring market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
By Type
- Distribution Board
- Junction Box
- Conduits
- Trunking
- Cable Tray
- Bus Bar
- Others
By Material
- Metallic
- Non-Metallic
By End Use
- IT & Telecom
- Commercial Construction
- Healthcare
- Energy
- Manufacturing & Automation
- Marine
- Mining
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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