December 07, 2020
According to the report titled ‘Global Fiber Optics Testing Market Size study, by Service Type (Testing, Inspection, Certification), Offering Type (In-House, Outsourced), Fiber Mode (Single Mode, Multimode), Application (Telecommunication, Private Enterprise, Cable Television, Military and Aerospace, Manufacturing, Oil and Gas, Energy and Power, Railway, Medical, Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global fiber optics testing market was worth USD 272 million in 2019 and is anticipated to record a 8.9% CAGR during 2020-2027.
Growing adoption of fiber optics in telecommunication sector for high-speed data transfer along with increasing penetration of LTE networks, setup of data centers, and surging fixed broadband subscriptions are primarily driving global fiber optics testing market growth. Citing an instance, Google, in February 2019, declared an investment of USD 13 billion in data centers in the USA, which was USD 9 billion in 2018.
For those uninitiated, fiber optics testing procedure is utilized for assessing performance of various fiber optic components including splices, detectors, receivers, connectors, fibers, and laser sources or LED. The working capacity of these components is determined in their development phase by testing their performance. Also, the procedure aid in troubleshooting and comprise of testers such as certification testers, verification testers, and advanced optical time-domain reflectometers (OTRD) testers which are used in several sectors like oil & gas, telecom, defense & military among others.
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Surging FTTX demand and increasing investments in 5G infrastructure are stimulating global fiber optics testing industry expansion. Considering the 5G testing and trail projects in the United Kingdom, the federal government of UK has reportedly invested about USD 52.28 million to focus on improving and expanding mobile connectivity.
However, hefty installation cost and training expenditure are likely to hamper the remuneration scale of fiber optics testing industry over the study period.
Citing the regional landscape, worldwide fiber optics testing market sphere is categorized into Asia Pacific, North America, Europe, Latin America, and Rest of the World. The report claims that North America currently holds a considerable market share and is slated to grow substantially over the estimated timeframe, on account of surging demand for high-speed data transfer, and well-established telecommunication infrastructure in the region.
Meanwhile, Asia Pacific fiber optics testing industry is reckoned to accrue notable gains by the year 2027, owing to increasing investments in 5G technology.
Major players influencing global fiber optics testing market dynamics are Element Materials Technology, VIAVI Solutions Inc., EXFO, Fluke Corporation, L3Harris Technologies Inc., Fujikura Ltd., Eurofins Scientific SE, TUV Rheinland, Intertek Group plc, and UL LLC.