Global Fiber Optic Testing Equipment Market: Snapshot
Fiber optic testing equipment (FOTEs) are systems that are used to measure, inspect, and monitor various aspects like power, faults, quality in various fiber optic devices. Fiber optic testing equipment are also used to measure and test entities such as absolute power, reflections, efficiency, noise distortions, and time in various fiber optics applications. In addition, these equipment are used to inspect or monitor medical and biological changes in medical laboratories. Fiber optic testing equipment also find extensive usage to increase the bandwidth of electromagnetic waves of network communications.
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The global fiber optic testing equipment market is poised to witness significant growth over the next few years, chiefly owing to factors such as their high demand in fiber optics devices in the telecommunication industry. The broadening set of applications of FOTEs in a number of new application areas such as research and development, installation and maintenance, measurement solutions, and safety and monitoring solutions is also fueling the global demand of fiber optic testing equipment. In the next few years, the significant rise in demand for measurement solutions and safety and monitoring solutions across the world is anticipated to create numerous growth opportunities for players in the global fiber optic testing equipment.
Transparency Market Research estimates that in terms of revenue, the global fiber optic testing equipment (FOTE) market was pegged at US$571.87 mn in 2016. The market is projected to exhibit a healthy 5.7% CAGR from 2017 to 2025, rising to a valuation of US$936.66 mn by 2025.
From a geographical standpoint, the Asia Pacific market for fiber optic testing equipment accounted for over 54% of the global market in 2016 and is likely to retain its position over the forecast period as well.
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Remote Fiber Test Systems to Witness Most Promising Growth Opportunities
On the basis of product type, the fiber optic testing equipment market has been segmented into optical time domain reflectometer (OTDR), optical light source (OLS), optical power meter (OPM), optical loss test set (OLTS), remote fiber test system (RFTS), and optical spectrum analyzers (OSA). Of these, the segment of OTDR fiber optic testing equipment held the leading market share in terms of revenue contribution to the global market in 2016 and is expected to retain its leading position during the forecast period as well.
However, the segment of RFTS fiber optic testing equipment is expected to witness expansion at the maximum rate during the forecast period, chiefly owing to their increasing demand for telecommunication network devices across countries such as China, India, Japan, U.K., the U.S., Germany, and Singapore.
Asia Pacific to Remain at Center of Most Developmental Activities
The vast increase in demand for fiber optic instruments in telecommunication and defense industry and huge capital investments in communication technologies are expected to emerge as the key driving factors of the Asia Pacific fiber optic testing equipment market over the forecast period. China has the highest number of smartphone and electronic gadget users in the world currently, while Singapore boasts of the highest percentage of smart phone penetration in the world. As a result, Asia Pacific is presently the most lucrative hub for telecommunication network operators, and is thus a lucrative region for fiber optic testing equipment as well.
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Middle East & Africa (MEA) held the second leading position in the global fiber optic testing equipment market in terms of revenue in 2016. Increase in demand for portable electronic devices such as smartphones and tablet computers is one of the key driving factors for the fiber optic testing equipment market in Middle East & Africa. The fiber optic testing equipment market in Europe is primarily driven by an increase in demand for safety and monitoring solutions and measurement applications.
Some of the leading players operating in the global fiber optic testing equipment market are Anritsu Corporation, Keysight Technologies, JDS Uniphase Corporation, EXFO Inc, Tektronix Inc, Fluke Networks, Yokogawa Electric Corporation, and OZ Optics Limited.
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