The global microduct market is poised for remarkable growth between 2023 and 2033, targeting a substantial market value of over US$ 17.36 billion, with a strong annual growth rate of 12.1%. This industry is expected to thrive in the coming decade, offering promising opportunities for businesses and investors.
The use of cloud computing is growing rapidly because more and more people want to keep their data safe and find it convenient to access their information. Microducts play a crucial role in helping the servers that power cloud computing work efficiently. So, as the demand for cloud computing continues to rise, it’s expected that more microducts will be sold in the future.
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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.
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 a protective layer to the fiber optic cables, higher life cycle, and numerous other factors are expected to surge the microduct market growth.’
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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