The fiber optic test equipment market is to be worth USD 923 million in 2023 and is expected to reach USD 1,779.9 million by 2033, with a 6.8% CAGR between 2023 and 2033.
The growth in fiber cable networks and fiber optic cable types may augment the fiber optic test equipment demand in the market. In order to provide services efficiently, the increased need for real-time operations necessitates continual testing of insertion loss and bandwidth.
Increasing need opens up significant opportunities for the fiber optic test equipment industry.
The introduction of 5G technology may accelerate development, which can cause the fiber optic test equipment demand to rise over the coming years. Governments in rising economies, like India and China, are encouraging testing operations in telecom base stations as a result of the ongoing development of infrastructure to enable 5G technology.
The fiber optic testing equipment market's rise in recent years has been fueled by the rising fiber optic test equipment demand from network service providers for the 5G technology to operate effectively. This increased fiber optic test equipment demand is creating more chances for sellers of network test equipment.
| Attributes | Details |
|---|---|
| Fibre Optic Test Equipment Market CAGR (2023 to 2033) | 6.8% |
| Fibre Optic Test Equipment Market Size (2023) | USD 923 million |
| Fibre Optic Test Equipment Market Size (2033) | USD 1,779.9 million |
| Fibre Optic Test Equipment Market HCAGR (2018 to 2022) | 5.4% |
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According to market research experts at FMI, the size of the fiber optic tools market accounted for USD 702.2 million in 2018 to USD 865.1 million in 2022.
The adoption of fiber optics is expanding as wireless technology is increasingly adopted in many end-user sectors. One of the key industry trends gaining pace in the fiber optic test equipment market over the next few years is going to involve the expanded adoption of fiber optic test equipment as a result of the increasing acceptance of wireless technologies.
The importance of fiber optic tools for various network mediums has increased in inspection, on-site troubleshooting of network systems, as well as research and development stages across the industrial sector, as the telecommunications industry across the world accelerates its shift towards fiber optic cables to achieve high-speed data transfer.
End users now have the chance to learn about and rediscover the advantages of the digital ecosystem thanks to the pandemic. Setting up resilient cabling and network infrastructure is essential for end users if they want to take full advantage of this connectivity.
As connectivity speeds increase, cable performance becomes more important to maintain link quality, paving the way for diverse fiber optic cable types.
Over the next few years, numerous fiber optic tools businesses are likely to investigate innovative fiber optic solutions, including prospects in the maritime and healthcare industries.
Going forward, governments around the world are implementing programs like smart city projects with fiber optic networks to ensure the smooth flow of Internet of Things (IoT) technology.
According to the United Nations (UN), more than 68% of the global population is predicted to live in cities by 2050, fuelling additional ‘smart city' schemes around the world.
As long as the existing trends driving the current spike in fiber optics continue, the global fiber optic test equipment market is to be a massive market equipped with several opportunities in the future years.
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Long-term evolution (LTE) network penetration and fixed broadband subscription growth have accelerated recently, and fiber optic tools market trends are expected to continue thriving during the forecast period.
Customers' lifestyles have changed dramatically as a result of COVID-19, leading them to depend more and more on ICT (information and communication technology) connectivity.
According to FMI, mobile operators spend roughly USD 160 billion in 2020 to reach their 5G networks. Moreover, till 2024, fixed broadband connection growth is likely to increase by 3% annually.
The deployment and development of 5G wireless communication have been made possible by fiber optics. Heavyweights in the telecom industry rely on the millions of miles of cutting-edge fiber optic cables that connect 5G devices all over the world.
| Category | By Equipment Type |
|---|---|
| Sub-Category | Optical Time Domain Reflectometers |
| Market Value | 35.7% |
Optical time domain reflectometers (OTDR testers) might continue to be a key source of revenue for market players since they are commercially available for use over the full wavelength range.
The performance of fiber plants is also maintained using an OTDR tester, which offers sophisticated diagnostics to identify the point of failure that could impair network operation.
Smart cities, smart homes, and smart grid development are resulting in the production of massive amounts of data, which has prompted the demand for data centers to monitor and handle this data. As one of the main growth drivers for OTDR testers, this is boosting expenditures in data centers.
Due to their relatively higher accuracy in optical power meter (OPM) readings, OTDRs maintain their dominance in the fiber optic test equipment market. Around 35% of the fiber optic testing equipment market stack is currently captured by these products, and through 2033, the number is likely to advance at a potent CAGR.
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| Country | China |
|---|---|
| Market CAGR | 8.0% |
| Country | India |
|---|---|
| Market CAGR | 10.7% |
| Country | United Kingdom |
|---|---|
| Market CAGR | 4.8% |
With fiber optic test equipment sales and fiber optic tools market activity focused in the United States, North America currently holds a significant revenue share in the global fiber optic testing equipment market.
As a significant step towards the internet utopia, San Francisco has pledged to connect its whole city's fiber optic network infrastructure. Facebook and Google may be able to connect quickly and securely with data centers in Asia and explore future markets thanks to the Pacific Light Cable Network's decision to run 8,000 miles (12,875 km) of undersea fiber optic cable types from Los Angeles to Hong Kong.
The pandemic situation has highlighted how crucial it is for Americans to have access to a fast, affordable internet connection. In the nation, demand for broadband internet connection has skyrocketed to new heights.
According to recent research, average broadband use in 2020 might be 47% higher than in 2019.
While North America presently leads the global fiber optic test equipment market, FMI predicts that the region may lose ground to East Asia in the next years. The increase in data centers in the region is increasing the fiber optic test equipment demand.
| Country | United States |
|---|---|
| Market Share | 21.2% |
| Country | Germany |
|---|---|
| Market Share | 4.9% |
| Country | Japan |
|---|---|
| Market Share | 3.0% |
| Country | Australia |
|---|---|
| Market Share | 3.4% |
China has around 400, 000 small and medium-sized data centers, and annual total power demand has reached 100 billion kWh - roughly 250,000 kWh for each data center.
Alibaba Cloud, a subsidiary of Alibaba Group, has expanded its presence in the country by adding three more hyperscale data centers. China has expanded its fiber footprint to a national penetration of 86%.
The fiber optic tester market in South Asia and Pacific (SAP) is to experience significant expansion in the next years.
The Indian government has launched the undersea optical fiber cable (OFC) connecting Chennai and Port Blair, allowing for the supply of high-speed and more dependable landline and mobile telecommunication services to islands, as in the rest of the country.
The government has pledged to connect India's 600,000 villages to an optical fiber network within the next 1,000 days.
By including distinctive characteristics with their products, fiber optic test equipment manufacturers are placing a higher priority on product development. The fiber optic test equipment manufacturers are making significant investments in providing customers with a wide range of technology for uses such as field monitoring, measurement, and maintenance.
For instance,
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The market is valued at USD 923 million In 2023.
The market is estimated to reach USD 1,779.9 million by 2033.
The growth potential of the fiber optic test equipment market is 6.8% CAGR through 2033.
Viavi Solutions, EXFO, and National Instruments are the key manufacturers.
The market registered a 5.4% CAGR from 2018 to 2022.
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Fiber Optic Test Equipment Market
