PUBLISHER: The Business Research Company | PRODUCT CODE: 1465777
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465777
Fiber optic test equipment refers to specialized tools and devices designed for testing, measuring, and analyzing the performance of fiber optic communication systems. These instruments play a crucial role in ensuring the integrity, reliability, and efficiency of fiber optic networks by evaluating various parameters. Common assessments include measuring signal strength, assessing attenuation (signal loss), analyzing dispersion (spread of light pulses), and verifying connectivity. Fiber optic test equipment is essential for maintaining and optimizing the performance of fiber optic communication systems in various applications and industries.
The primary categories of fiber optic testing equipment encompass optical light sources, optical power and loss meters, optical time domain reflectometers, optical spectrum analyzers, remote fiber test systems, and additional tools. Optical light sources are devices that emit light within the visible spectrum or other optical wavelengths, facilitating various testing methods such as continuity tests, end-to-end insertion loss tests, optical power measurement tests, optical radiation tests, mechanical tests, and environmental tests. These testing procedures are essential for different fiber modes, including single mode and multimode, catering to a wide range of end-users, including telecommunications, data centers, industries, and other sectors.
The fiber optic test equipment market research report is one of a series of new reports from The Business Research Company that provides fiber optic test equipment market statistics, including fiber optic test equipment industry global market size, regional shares, competitors with a fiber optic test equipment market share, detailed fiber optic test equipment market segments, market trends and opportunities, and any further data you may need to thrive in the fiber optic test equipment industry. This fiber optic test equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fiber optic test equipment market size has grown rapidly in recent years. It will grow from $1.12 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The expansion of the telecommunications infrastructure, the surge in internet usage, advancements in fiber optic technology, the increasing demand for higher data rates, and the transition to 5G networks are key factors that contributed to the growth in the historic period.
The fiber optic test equipment market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period is driven by the expansion of 5G networks, the proliferation of the Internet of Things (IoT), the growth of cloud computing and data centers, digital transformation initiatives, and the development of smart cities alongside urbanization. Notable trends expected in the forecast period involve the integration of artificial intelligence (AI) and machine learning (ML), the expansion of remote testing solutions, an emphasis on the portability and mobility of test equipment, the evolution of next-generation test equipment interfaces, and advancements in optical network security testing.
The growth of the fiber optic test equipment market is anticipated to be propelled by the increasing adoption of 5G and LTE (Long-Term Evolution) networks. These technologies are pivotal in mobile telecommunications, providing high-speed wireless internet access, and have witnessed significant adoption due to the escalating demand for data, the rise of remote work culture, and the increasing prevalence of smartphones. Fiber optic test equipment plays a crucial role in 5G and LTE networks by ensuring the reliability and integrity of fiber optic cables, aiding operators in deploying, maintaining, and optimizing the fiber-optic infrastructure that serves as the backbone for these advanced networks. According to 5G Americas, a US-based wireless industry trade organization, the number of 5G wireless connections increased by 76% from 2021 to 2022, reaching 1.05 billion, and is expected to further surge to 1.9 billion by the end of 2023 and 5.9 billion by 2027. The adoption of 5G and LTE networks is particularly notable in North America, where 215 million 5G connections are projected by the end of 2023.
Key players in the fiber optic test equipment market are concentrating on developing innovative solutions to cater to diverse applications, such as the OPM-200 power meter. This high-performance optical power meter is designed to accurately measure the power in an optical signal, enabling seamless integration with advancements in optical communication technology. Santec Corporation, a Japan-based manufacturer of advanced optical components, launched the OPM-200 power meter in March 2023, offering a dynamic range of +8 dBm to -80 dBm. The meter features free space detectors, 1 MHz sampling with user-selectable averaging time, buffered output of up to 128,000 data points, an external trigger for data capture, and analog outputs, contributing to the rising demand for advanced products in the fiber optic test equipment market.
In July 2023, Tempo Communications, a US-based communication product manufacturing company, acquired Kingfisher International. This acquisition positions Tempo Communications to broaden its product portfolio and offer customers an extended range of innovative solutions for installing, testing, and measuring fiber optic networks. Kingfisher International, based in Australia, specializes in manufacturing fiber optic test and measurement equipment.
Major companies operating in the fiber optic test equipment market are Sumitomo Electric Industries Ltd., Kingfisher International Limited, Corning Incorporated, Molex LLC, Fujikura Ltd., Agilent Technologies Inc., Keysight Technologies Inc., Yokogawa Corporation, Rosenberger OSI GmbH & Co. OHG, Lumentum Operations LLC, VIAVI Solutions Inc, Thorlabs Inc., Tektronix Inc., Fluke Corporation, Anritsu Corporation, Yokowo Co. Ltd., EXFO Inc, JDS Uniphase Corporation, OptoTest Corporation, M2 Optics Inc., FiberQA LLC, VeEX Inc, OZ Optics Limited, Fibertronics Inc., Precision Rated Optics (PRO), Exfiber Optical Technologies Inc.
Asia-Pacific was the largest region in the fiber optic test equipment market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber optic test equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fiber optic test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fiber optic test equipment market consists of revenues earned by entities by providing services such as installation testing, troubleshooting, fault detection, optical power measurement, reflectometry, and loss measurement. The market value includes the value of related goods sold by the service provider or included within the service offering. The fiber optic test equipment market also includes sales of optical power meters, optical time-domain reflectometers, optical spectrum analyzers, and visual fault locators. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fiber Optic Test Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fiber optic test equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fiber optic test equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fiber optic test equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.