Fiber optic test equipment market to reach $1.7 bn by 2033
By 2023 end, the fiber optic test equipment market will be worth US$ 923 million. It is set to reach US$ 1.7 billion by 2033, with a 6.8% CAGR from 2023 to 2033, according to a report by the Future Market Insights, Inc.
As the telecommunications industry quickly adopts all the fiber optic cable types for high-speed data transfer, the relevance of fiber optic testing equipment for these has grown over the years in production, inspection, on-field troubleshooting of network systems, and research and development phases across industries.
The expanding number of fiber cable networks may fuel fiber optic test equipment demand. The growing demand for real-time operations necessitates constant testing of insertion loss and bandwidth to provide services efficiently. This need creates enormous prospects for the fiber optic testing equipment market.
From a technological standpoint, the fiber optic test equipment market may be driven by the deployment of real-time 40-gig and 100-gig network deployments, which may create a demand for high fiber optic performance.
The increasing complexity of electronic devices and networks necessitates the development of fiber optic test equipment that is simple to use and has improved functionality. Increased fiber optic testing frequency can boost market revenue by enabling better error rate testers and next-generation fiber optic testing systems.
Although the fiber optic tools market is expanding significantly, customers’ lack of testing awareness is preventing market expansion.
North America is likely to have the lion’s share of the global fiber optics test equipment market due to full-stream 4G deployments. While having a small share of the global fiber optic test equipment market, Asia Pacific is predicted to develop at a considerable rate, driven by increased FTTH implementation in emerging nations such as China and India.
Governmental policies for FTTH implementation, as well as the increasing use of smartphones, drive fiber optic test equipment demand in China, creating prospects for the Chinese fiber optic tools market.
- The United States to acquire a market share of 21.2% from 2023 to 2033.
- Germany’s fiber optic tools market is to hold a market share of 4.9% between 2023 and 2033.
- Japan to acquire a global market share of 3% from 2023 to 2033.
- Australia market to hold a market share of 3.4% between 2023 and 2033.
- China to develop at a fiber optic test equipment market CAGR of 8% during the forecast period of 2023-2033.
- India to accelerate at a fiber optic tools market CAGR of 10.7% between 2023 and 2033.
- The United Kingdom to advance at a fiber optic testing equipment market CAGR of 4.8% during the forecast period of 2023-2033.
- The optical time domain reflectometers (OTDR tester) segment in the equipment category is to have a market share of 35.7% from 2023 to 2033.
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