Market Size of Cable Tags Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.77 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cable Tag Market Analysis
The cable tag market was valued at USD 1492.64 million in 2020 and is expected to reach a value of USD 2077.141 million at a CAGR of 5.77% during the forecast period. Cable tags have the ability to withstand harsh weather conditions and high temperatures, such that printing on the tag does not fade away. Therefore, cables used in the manufacturing and automotive industries are labeled with these tags that avoid any damage, and it is easy to identify different cables in industrial processes. The cable tag companies are printing labels on stainless steel or aluminum tags, by punching the letters on tags. Stainless steel and aluminum tags have a longer life than that of paper or plastic, thereby, offering a competitive advantage. However, plastic ferrules and other plastic-coated, paper wrap-around cable label tags are used commonly in the market, owing to their low cost.
- The market for automation is increasing at a significant rate, owing to its adoption in industrial and urban use. Automation uses a large number of components, such as switchgear, relays, HVAC systems, human-machine interface (HMI,) and IT systems, which are connected through wires or cables.
- These cables may be small in size, ranging from 0.5 sq. mm to 35 sq. mm. Tracking the exact wire connection in an automation system is a challenging task for any skilled professional. Thus, the use of a cable tag has become an important component in the cable management process.
- Moreover, recently, data centers are growing drastically. With the rise in cloud computing, social media, big data, online gaming, and other online applications, there is a constant need for enhanced IT infrastructure that caters to the ever-increasing demand for resources; a factor that further supplements the demand for hyperscale data centers.
