“Fiber optics testing market projected to grow at a CAGR of 8.8% from 2020 to 2025”
The global fiber optics testing market is expected to grow from USD 283 million in 2020 to USD 433 million by 2025, at a CAGR of 8.8% during the forecast period. The fiber optics testing market is growing owing to the increased investments in infrastructure development and surging demand for FTTX. The major restraint for the market is high cost of installation and training . A current challenge for the said market also includes the slowdown in installation activities amid the COVID-19 outbreak.
“Inspection services to grow at the fastest rate in the fiber optics testing market during the forecast period”
The market for inspection services is expected to grow at the highest CAGR during the forecast period owing to the need for repetitive inspections of fiber cables after installation because they are prone to damages. Inspection services ensure that the products meet the customer expectations and adhere to the industry and government regulations, thereby reducing the risk of defective products.
“In-house services to hold a major market share in the fiber optics testing market during the forecast period”
The in-house services are attributed to hold around 55% of the testing, inspection, and certification services in coming years. These services are carried out in-house and are particularly evident, especially in telecommunication, data center, and public sector applications.
“Multimode to witness highest CAGR in the fiber optics testing market during the forecast period.”
Multimode fibers are expected to register a higher CAGR in the fiber optics testing market from 2020 to 2025 owing to the rising demand for increased bandwidth for cloud computing applications. Multimode fiber optical interconnects are used for short-distance data transmissions in data centers and high-performance computing applications. Cloud computing offers a large number of benefits, such as reduced infrastructure costs and improved connectivity, thereby leading to its increased adoption rate globally. The increasing use of cloud computing has created the requirement for high-efficiency processing in datacenters. All these factors are expected to boost the demand for multimode fibers, which, in turn, would create an increased requirement for fiber optics testing.
“Telecommunication is expected to hold the largest market share of the fiber optics testing market during the forecast period.”
Telecommunication is expected to hold the largest market share in the fiber optics testing market during the forecast period. Fiber optics cabling is the core element of the telecommunications industry. As the demand for improved network speed and bandwidth increases, it is necessary to minimize the limitation of throughput drop and bandwidth loss.
“APAC held the largest market share in the fiber optics testing market between 2020 and 2025.”
APAC is expected to hold a major market share during the forecast period as it is a base for several consumer electronics companies, advanced manufacturing technologies, and the other high-end machinery, due to which it is one of the most significant users of a wide range of optoelectronics equipment. However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC which will have a significant impact on the said market in this region for the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in computational photography marketspace. The break-up of primary participants for the report has been shown below:
- By Company Type: Tier 1 = 45%, Tier 2 = 35%, and Tier 3 = 20%
- By Designation: C-Level Executives =35%, Directors = 43% and Others = 22%
- By Region: North America = 34%, Europe = 26%, APAC = 30%, and RoW = 10%
The major players in the fiber optics testing market are UL LLC (US), Element Materials Technology (UK), Intertek (UK), NTS (US), T?V Rheinland (Germany), VIAVI Solutions (US), Eurofins Scientific (Luxembourg), EXFO (Canada), Fujikura (Japan), L3Harris (US), and Fluke Corporation (US).
This research report categorizes the global fiber optics testing based on service type, offering type, fiber mode, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the fiber optics testing market and forecasts the same till 2025.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
- This report segments the fiber optics testing market comprehensively and provides the closest market size projection for all subsegments across different regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
- This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches, acquisition, and expansions.
- This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of fiber optics testing will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.