Owing to its modest growth outlook in the past and heightening demand with the introduction of 5th Generation network, communication test equipment market is anticipated to grow 1.5X through 2029. Furthermore, broadband penetration with FTTH (Fiber-to-the-home) initiatives by regional and global governmental bodies has also giving an uptick to its demand, thus creating the additional need for optical fiber communication test equipment. This mounting demand of communication test equipment is set to contribute US$ 5 Bn to global communication equipment market by end of forecast period.
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Shift from legacy networks to Long Term Evolution (LTE) networks has resulted in increasing data usage across globe. The amount of data that is produced in a day is 2.5 quintillion bytes which is higher than the last three decades. Emergence of big data and its applications such as business intelligence and search pattern reorganization has enabled demand for high QoS (Quality of Service) in the telecom market.
Introduction of RF (Radio Frequency) standards by international bodies like ETSI (European Telecommunications Standards Institute) and ITU (International Telecommunication Union), along with the regulations imposed by regional regulatory authorities such as TRAI (Telecom Regulatory Authority of India) has compelled service providers to ensure QoS. Imposition of these regulations has also resulted in increasing demand for communication test equipment.
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Key Takeaways of Global Communication Test Equipment Market
- Global communication test equipment market is expected to create a value opportunity of around US$ 1.0 Bn during the forecast period, adding 1.6X more value in 2029 as compared to 2019
- Telecommunication sector will continue to dominate demand for communication test equipment market accounting for more than half of the global share, as a result of growing preference for IoT applications.
- China and India will continue to maintain their supremacy in communication test equipment market with highest number of communication subscribers and high data usage rate. Communication test equipment market in Asia Pacific is poised to grow at a healthy CAGR of 5.0% through 2029.
- Increasing investments by government and related authorities in aerospace and defense for providing better support and up gradation of testing equipment is expected to boost demand for communication test equipment market over the forecast period.
- Asia Pacific is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 500.0 Mn and is expected to show prolific expansion over the forecast period
“Launch of Next Generation Networks (NGNs) with fiberization and IMS core systems to upturn demand for communication test equipment for ensuring QoS provided by CSPs”, says Fact.MR analyst.
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