Cable Tray Market Forecast Report 2021: USD 3.20 Billion Market Growth Opportunity by 2025 |Technavio
NEW YORK , June 10, 2022 |PRNewswire| -- The cable tray market is expected to grow by USD 3.20 billion from 2020 to 2025, progressing at a CAGR of 10.64% as per the latest market report by Technavio. The key factor driving the cable tray market is the increased investments in data centers. Cable trays are used in designing the communication and power cable infrastructure in data centers. Rapid growth in data traffic due to factors such as increasing penetration of the IoT, developments in wired and wireless communication technologies, and rising deployment of AI across industries, is increasing the need for data centers, which, in turn, is driving the demand for effective cable management systems, such as cable trays. In July 2018 , Netmagic Solutions, a wholly-owned subsidiary of NTT Communications, an India -based cloud and managed IT services provider, announced the launch of two new high-density and hyper-scale data centers. The parent company, NTT Communications, invested $144 million in setting up these two new facilities.
Cable Tray Market Forecast Report 2021: USD 3.20 Billion Market Growth Opportunity by 2025 |Technavio
NEW YORK , June 10, 2022 |PRNewswire| -- The cable tray market is expected to grow by USD 3.20 billion from 2020 to 2025, progressing at a CAGR of 10.64% as per the latest market report by Technavio. The key factor driving the cable tray market is the increased investments in data centers. Cable trays are used in designing the communication and power cable infrastructure in data centers. Rapid growth in data traffic due to factors such as increasing penetration of the IoT, developments in wired and wireless communication technologies, and rising deployment of AI across industries, is increasing the need for data centers, which, in turn, is driving the demand for effective cable management systems, such as cable trays. In July 2018 , Netmagic Solutions, a wholly-owned subsidiary of NTT Communications, an India -based cloud and managed IT services provider, announced the launch of two new high-density and hyper-scale data centers. The parent company, NTT Communications, invested $144 million in setting up these two new facilities.