Optical Fiber and Plastic Conduit Market to Reach $11.77 Bn, Globally, by 2026 at 20.6% CAGR: Allied Market Research
Prime Determinants of Growth
Widespread implementation of 5G, rise in adoption of fiber to the home (FTTH) connectivity, advent of the internet of things (IoT), and demand for highly secure and safe wiring systems drive the growth of the global optical fiber and plastic conduit market. However, high installation cost of optical fiber and conduits and rise of the wireless communication systems hinder the market growth. On the other hand, rise in investments in optical fiber cable (OFC) network infrastructure and emerging trends toward cable-in-conduits systems create new opportunities in the market.
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Plastic Optical Fiber Segment to Maintain Its Lead Position during the Forecast Period
Based on product type, the plastic optical fiber segment contributed to more than three-fifths of the total share of the global optical fiber market in 2018 and is expected to maintain its lead position during the forecast period. This is due to rise in adoption in home networks, digital home appliances, industrial networks, and car networks. Moreover, the glass optical fiber segment is estimated to register the largest CAGR of 22.3% from 2019 to 2026, owing to benefits such as greater bandwidth, immunity to interference from vibrations & electricity, and lightweight.
Flexible Conduits Segment to Continue Its Lead Position in terms of Revenue By 2026
Based on connectivity, the segment of the flexible conduit held the highest market share of the global plastic conduit market in the IT and telecom market, accounting for more than two-thirds of the total share in 2018, and is estimated to continue its lead position in terms of revenue during the forecast period. This is due to increase in installation work for commercial and domestic wirings in the IT & telecom sector. However, the rigid conduits segment is estimated to grow at CAGR of 10.2% from 2019 to 2026, owing to its features such as prevention of corrosion & water damage and reduction in the electromagnetic fields that are formed by electrons flowing through the conductors.
North America to Maintain Its Dominance during the Forecast Period
Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global optical fiber and plastic conduit market in 2018, and is expected to maintain its dominance during the forecast period. This is attributed to rise in investment in defense industries, need to enhance the security infrastructure, and large-scale acceptance in the telecommunication sector. However, Asia-Pacific is expected to maintain the fastest CAGR of 13.4% from 2019 to 2026, owing to rise in penetration of the Internet in developing countries, such as India, China, and Taiwan, increase in industrialization, and increase in awareness associated with benefits of the technology.
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