Global Fiber Optic Testing Equipment Market: Asia Pacific Projected to Remain Most Attractive Regional Market
May 15, 2017 | Transparency Market ResearchEstimated reading time: 2 minutes
The global market for fiber optic testing equipment features the presence of a large number of companies, operating amid intense competition, observes Transparency Market Research in a recent report. Leading names in the global market, including Anritsu Corporation, Keysight Technologies, JDS Uniphase Corporation, EXFO Inc, and Tektronix Inc resort to market penetration strategy by developing products as per the changing technological needs of the highly dynamic telecommunications industry. Companies are also focusing on geographical expansion to exploit the vast growth opportunities in regions such as Asia Pacific. An instance is the Fluke Corporation. The company has recently acquired small players such as Hawk IR International and eMaint Enterprises.
Transparency Market Research estimates that in terms of revenue, the global fiber optic testing equipment (FOTE) market was valued at $571.87 million in 2016, and will reach $936.66 million by 2025, expanding at a CAGR of 5.7% from 2017 to 2025.
Asia Pacific Accounts for Massive Chunk of Revenue
In terms of application, the segment of installation and maintenance dominated the global market, accounting for a massive 68.4% of the market in terms of revenue in 2016. This segment is projected to retain its leading position across different regions over the report’s forecast period as well. Over the forecast period, the segment of measurement solutions is projected to witness significant growth owing to the large scale application of fiber optic testing equipment in the telecommunication industry.
From a geographical perspective, the Asia Pacific market, with a 54.5% of the overall revenue in 2016, holds a prominent position in the global market for fiber optic testing equipment. The region is also expected to emerge as the most attractive regional market for fiber optic testing equipment in terms of future growth potential. The thriving telecommunication industry of the region is one of the key drivers of the market and is expected to continue to drive the market over the next few years as well.
Advancements in Network Infrastructure Remains Key Growth Driver
Rapid advancements in network infrastructure across developed and developing economies is one of the key factors to have boosted the global uptake of fiber optic testing equipment in the past few years. The telecommunications industry in Asia Pacific, for instance, is focusing on the implementation of 5G network before the winter Olympics in 2018 slated to be held in Tokyo, Japan. Attempts aimed at the implementation of advanced telecommunication technologies such as 5G will fuel the demand for fiber optics, which, in turn, is expected to have a significant positive impact on the demand for fiber optic testing equipment in the next few years.
The market faces challenges such as the dearth of professionals specializing in the overall functioning of fiber optic testing equipment and their application in new technologies such as LTE (Long-term Evolution) and LTE M2M (machine-to-machine) owing to their high level of complexity. Employing the proper skilled and trained personnel to work around these technologies could be a costly affair, which is an additional cost of operating the already costly product varieties such as remote fiber test system fiber optic testing equipment. Thus, the high cost of operation and dearth of skilled workforce are expected to hamper the growth prospects of the global fiber optic testing equipment market to a certain extent over the forecast period.
Suggested Items
IDTechEx Discusses Low-Loss Materials: The Enabler of Future Connected Vehicles?
05/06/2024 | IDTechExFuture connected vehicles will offer future drivers a safer, smoother, and more convenient driving experience. Not only will drivers get access to more navigation and entertainment options, but they will also gain access to safety technologies that will potentially reduce accidents, improve congestion, and reduce emissions globally by allowing vehicle safety systems to communicate with each other and with city traffic infrastructure.
HBM Prices to Increase by 5–10% in 2025, Accounting for Over 30% of Total DRAM Value
05/06/2024 | TrendForceAvril Wu, TrendForce Senior Research Vice President, reports that the HBM market is poised for robust growth, driven by significant pricing premiums and increased capacity needs for AI chips.
Tablet Shipments Show Signs of Recovery in Q1 2024
05/06/2024 | IDCAfter more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24), totaling 30.8 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.
Industrial PC Market Size to Record $1.75 Billion Growth from 2023-2027
05/03/2024 | PRNewswireThe global industrial pc market size is estimated to grow by USD 1.75 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 6.29% during the forecast period.
Real Time with… IPC APEX EXPO 2024: Direct Imaging Equipment and Quad-wave DLP Light Engine Technology
05/03/2024 | Real Time with...IPC APEX EXPOGuest Editor Kelly Dack and MivaTek's Brendan Hogan delve into the company's innovative technologies, including direct imaging equipment and quad-wave DLP light engine technology. They highlight the benefits of direct imaging, compensation, and DART technology.