The fiber optic test equipment market (hereafter referred to as the market studied, unless specified otherwise) is estimated to be USD 873. 54 million in 2021. It is expected to reach USD 1,346. 82 million by 2027, registering a CAGR of 7.
New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fiber Optic Test Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271889/?utm_source=GNW 15% from 2022 to 2027 (henceforth referred to as the forecast period). Key Highlights As the telecommunication industry is rapidly adopting fiber optic cables for attaining high-speed data transfer, the importance of testing equipment for these has increased over the years in manufacturing, inspection, on-field troubleshooting of network systems, as well as research and development phases across the industries. With the use of fiber optic cables, connecting several computers in a single building in computer networking nearby structures become faster. This cable aids in the rapid movement of large files and other data between networks. Fiber optics provide a more dependable, faster, and higher bandwidth mode of data transfer than traditional copper lines used by most utilities. Fiber optic networks send data by pulsing light via glass fiber strands approximately the size of human hair. When digital signals are sent via light, there is no external interference and reduced signal loss. This results in a more dependable data transmission network, even across vast distances. The global fiber optic test equipment market is expected to grow in response to the growing number of fiber cable networks. In order to deliver successful services, the increased need for real-time operations necessitates continual testing of bandwidth and insertion loss. As a result of this need, the global fiber optic test equipment market is expected to grow significantly. Also, the fiber optics testing sector is labor-intensive, and there are rising concerns about maintaining a minimal workforce. The labor cost is around half of the installation cost, and it largely consists of repeated labor. The outbreak of COVID-19 has increased the usage of data. According to a report on the impact of the COVID-19 pandemic on China’s entertainment industry by MaoyanEntertainment, a leading platform providing innovative Internet-empowered entertainment services in China, the movie industry was severely hit by the pandemic, whereas the online entertainment market, including TV and streaming platforms, were booming as people were confined to their homes.? Key Market Trends Increasing Penetration Of 5G/LTE Networks And Fixed Broadband Subscription Increased bandwidth, ultra-low latency, and faster connectivity are expanding civilizations, revolutionizing industries, and radically improving day-to-day experiences. E-health, networked vehicles and traffic systems, and advanced mobile cloud gaming were formerly considered futuristic. The 5G infrastructure market is predicted to transform the realm of various broadband services by enabling connectivity across numerous end-user verticals. According to the GSMA, 5G networks have achieved roughly 45 percent urban coverage in early deployment trials. China, India, and other countries want to deploy a 5G network by 2020, which will necessitate significant financial investment in 5G-capable infrastructure. Small cells are projected to make up the majority of 5G networks. They also help providers save money by removing costly rooftop systems and installation expenses, and they are projected to improve mobile handset performance and battery life. According to Ericsson, the 400 million IoT devices with cellular connections in 2016 are expected to grow to 1.5 billion by 2022, up from 400 million in 2016. Increased industrial attention on building a connected ecosystem and the standardization of 3GPP cellular IoT technologies are likely to support this strong growth. Asia Pacific Region to Witness the Fastest Growth Data centers are one of the largest consumers of fiber optics, which enables the data centers to provide high-speed data transmission with fewer complexities of connections between racks of switches and other parts of the data centers. Owing to the high-power consumption of data centers, researchers have been investing in increasing the use of low-power fiber optics. The rise in the number of data centers in the region is estimated to increase the demand for fiber optic test equipment in the market. According to the report on Energy Consumption of Data Centers in China, the current number of small and medium-sized data centers in China has exceeded 400,000, and the annual total power demand has reached 100 billion kWh, i.e., around 250,000 kWh, for each data center annually. Also, the rising trend of data localization in the country may promote the development of data centers. Additionally, the telecommunication companies in the region are taking initiatives to strengthen the 5G infrastructure in the region. For instance, global telecommunication collaboratively took the initiative to launch an Open Test and Integration Center (OTIC) in India. This collaboration includes companies such as Reliance Jio and China Mobile. Such initiatives are expected to continue, which may fuel the adoption of fiber optic test equipment in the market. Presently, Japan-made optical fiber cable products are renowned around the world for their advanced innovations and high-end qualities. Japan has been one of the leading global optical fiber cable producers and exports over the last few years. In June 2021, Japan set an internet speed record by transferring 319 Tb/s over 3,001 km. In November 2021, Fujikura Ltd announced that AFL, a subsidiary of Fujikura Ltd, Japan, officially opened its new fiber optic cable facility in Swindon, Wiltshire, starting commercial production of FFujikura’sAir Blown Wrapping Tube Cable (AB-WTC) using Spider Web Ribbon® (SWR®) fiber technology in the United Kingdom. Currently, India is the world’s second-largest telecommunications market with a subscriber base of 1.16 billion and has registered strong growth in the last decade. The Indian mobile economy is growing rapidly and it is projected to contribute substantially to IIndia’sGross Domestic Product (GDP), according to a report prepared by GSM Association (GSMA). According to IEEE comsoc.org, as of November 2020, India had an optical fiber-based network spanning 28 lakh (100,000) kilometers as against the target set up by the National Broadband Mission to deploy as much as 50 lakh kilometers of optical fiber by 2024. All of the above factors are expected to grow the demand for fiber optic test equipment market in the Asia Pacific region over the forecast period. Competitive Landscape The market for fiber optics test equipment is fragmented due to the presence of high competitive rivalry among the market players. Also, these companies are extensively investing in offering a wide range of technologies to the customers for application-specific field measurement, monitoring, and maintenance. Moreover, these are companies are continuously investing in making strategic partnerships and acquisitions along with product development to gain more market share. Some of the recent developments by the companies are listed below. March 2022 - VIAVI Solutions Inc. introduced a 400G module for the OneAdvisor 800, providing advanced 400G transport test and maintenance functionality for business service and network core technicians working in the field. Combining its transmission protocol and fiber network modularity, the OneAdvisor 800 offers unprecedented testing performance for technicians who must carry their gear into the field. March 2022 - EXFO is expanding its range of electrical and optical test solutions by integrating technology acquired from InOpticals Inc. into its test & measurement portfolio to deliver comprehensive, modular test solutions. This brings best-in-class performance across the end-to-end process for transceivers and optical components. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06271889/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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