Fiber Optic Testing Equipment Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2997
Fiber Optic Testing Equipment Market size is poised to grow substantially from 2018 to 2024 propelled by increasing demand for fiber optic networks used in the telecommunication and networking services. These networks provide better connectivity and higher bandwidth as compared to the conventional alternatives. These networks require regular resting owing to the increase in speed and bandwidth for complex data centers, large campuses, and buildings. The testing equipment is used to inspect the light loss in optic cables for maintaining them in the transmission of massive data amount at high rates. The equipment provides several benefits to the cabling networks including troubleshooting, certification, and verification of the existing cables.
The increased investments by governments in the development of fiber optic networks for achieving better connectivity and improving the broadband infrastructure are driving the fiber optic testing equipment market growth. For instance, the Digital India initiative launched by the Government of India supports the development of large and complex fiber-optic networks across the country for providing high-speed internet facilities to urban and rural areas. Several advanced technologies including Fiber to the X and LTE that require excellent connectivity are further driving the fiber optic testing equipment market demand.
A major challenge posing in the fiber optic testing equipment market is the lack of essential technical knowledge and skilled workforce for operating the equipment. This equipment is highly susceptible to the hardware damages, resulting in breakdowns. The test operations of fiber optic cables require technically skilled workers and cannot be performed by unskilled people, increasing the training costs for companies. Another issue posing a growth challenge to the fiber optic testing equipment market is the high price of testing devices and hardware. The high costs associated with the devices make it unaffordable for implementation in small companies with less capital and operating budget. The challenge can be overcome by developing cheaper equipment affordable for companies with small budgets.
The fiber optic testing equipment market is driven by rapid innovations in communication technology and connectivity. The communication networks majorly deploy fiber optic cabling for efficient and hassle-free data transfer, further creating the need for advanced testing equipment. The development of complex and data center infrastructure in various industry verticals, such as IT & telecom and healthcare, is propelling the fiber optic equipment market growth. These data centers deploy complex cabling networks for managing the data transfer capacities and require timely testing to maintain the smooth data transfer. The rapid increase in the use of smartphones & tablets and other digital products increases the bandwidth requirement and deployment of fiber optic networks, driving the fiber optic testing equipment market. These technologies have massive data management requirements and testing of the cables, further fueling the industry growth.
The optical light source segment in the fiber optic testing equipment market is expected to gain high traction over the forecast years. The growth is attributed to the benefits such as advanced electromagnetic radiation, detection of brakes & faults in the cables, and link loss characterization. These sources are used to test the PON networks at various wavelengths providing cost-effective operations. The optical power meters have dominated the fiber optic testing equipment market owing to their functional and operational characteristics. These meters aid in the determination of incurred power loss in the optical media and regaining the power capacities. These consist of calibrated sensors that measure the display and amplifier circuit.
Installation application segment in the fiber optic testing equipment market is expected to grow significantly over the forecast timeframe owing to the essential operations in installing various systems. These systems require efficient installation & monitoring and result in increasing the productivity of the cables. Safety and monitoring systems deploy this equipment at a large scale due to the security benefits provided by the equipment. They are used in these systems to identify and monitor any issues in the cabling networks and efficiently indicate any challenges. Additionally, their scalability & reliability benefits aid in creating high fiber optic testing equipment market growth.
The U.S. fiber optic testing equipment market has dominated the industry owing to the adoption of advanced connectivity networks. The country has an efficient broadband and internet infrastructure that deploys complex fiber optic cabling networks, thereby creating the need for the equipment. Increased growth of the telecommunication sector drives the industry growth. The China fiber optic testing equipment market is witnessing high growth rates in the industry due to improved telecommunication services and networks in the country. The usage of 5G networks in the country is fueling the industry growth owing to the implementation of optic networks for data transmission.
The players operating in the fiber optic testing equipment market include Keysight Technologies, Fluke Networks, Yokogawa Electric Corporation, OZ Optics Limited, JDS Uniphase Corporation, Anritsu Corporation, Kingfisher International Pvt Ltd, and Tektronix, Inc. The companies are majorly focusing on developing product innovations by providing differentiated product features. Several strategies, such as mergers, acquisitions, partnerships, and collaborations, are deployed for strengthening the market position in the fiber optic testing equipment market.
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