The global microduct market is expected to hold a valuation of US$ 5.54 billion in 2023. By 2033, the numbers are projected to surge beyond US$ 17.36 billion. The CAGR during the forecast period is anticipated to be 12.1%.
The cloud computing market is expanding owing to increased demand for data security and ease of accessing data. The microducts assist in the functioning of the servers which are used in cloud computing technology. Thus, increasing demand for cloud computing is expected to surge the sales of microduct during the forecast period.
In recent times, a lot of companies have started adopting remote working policies. The application of microduct assists in handling the servers by providing better installation routes. This can be attributed to their ability to act like cable management systems.
One of the primary benefits of the microduct is that it reduces capital expenditure and acts as a protective sheath for fiber optic cables. This is especially crucial for the Information Technology market. Therefore, the US$ 8 trillion Information Technology market is no less than a goldmine.
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The lifecycle associated with microduct is quite high, and this might assist in reducing the cost over the course of time. The microduct also helps in increasing the network capacity, and this helps in serving numerous users simultaneously. However, the market growth might be plagued owing to fluctuating prices of raw materials and high maintenance costs.
The FMI analysts are of the view that the ‘surging Information Technology market and cloud computing market, the ability to assist in remote working conditions, providing protective layer to the fiber optic cables, higher life cycle, and numerous other factors are expected to surge the microduct market growth.’
Key Takeaways:
- The market is expected to register a CAGR of 12.1% between 2023 and 2033.
- In 2023, the market size is expected to reach a valuation of US$ 5.54 billion.
- By 2033, the numbers are expected to breach the mark of US$ 17.36 billion.
- On the basis of regional analysis, Asia Pacific is expected to be the dominant market. North America is expected to be the significant market in terms of CAGR.
- The United States market is expected to grow owing to a huge Information Technology market.
- Growing trend of remote working is projected to surge the market growth across Europe.
- Japan market is expected to be driven by a huge telecom sector.
- South Korea being synonymous with a mammoth fiber optic cable market, represents bright prospects for the market.
- On the basis of type, the flame retardant segment is expected to hold the leading market share.
- On the basis of application, the FTTX segment is expected to hold the dominant market share. As per the CAGR, the data center segment is expected to hold a significant position.
Competitive Landscape
The key players operating in the microduct market are expected to invest in profitable mergers and acquisitions. The strategy is also to invest in marketing activities in order to capture a significant chunk of the market. With manufacturers seeking to act responsibly to reduce carbon emissions, sustainable development initiatives are expected to be part of a long-term strategy. The manufacturers are putting millions of dollars into implementing the latest technology to increase the efficiency of production.
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