Global Optical Component Tester demand is projected to be valued at US$ 3.3 Billion in 2022, forecast to grow at a CAGR of 4.25% to be valued at US$ 5.1 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 3.1 Billion |
| Expected Market Value (2022) | US$ 3.32 Billion |
| Anticipated Forecast Value (2032) | US$ 5.1 Billion |
| Projected Growth Rate (2022-2032) | 4.25% CAGR |
Fiber optic networks and their installed components operate in a variety of environments and industries around the world. From military systems to telecommunication networks, fiber optic components experience a wide range of usage conditions and must be tested to effectively characterize their performance in any setting.
Optical component tester equipment or optical measuring instruments are used to measure and characterize the physical properties of light. The insatiable demand for higher capacity in communication networks has fueled the need for highly precise optical test solutions. In addition, precision optical measurements are essential to optical research applications for biophotonics, environmental sensing, and consumer products.
An optical component tester is a precision instrument designed to measure and display the distribution of power of an optical source over a specified wavelength span. An OSA trace displays power on the vertical scale and the wavelength on the horizontal scale.
The Optical component tester market is also driven by the impact of 4G, Wi-Fi, and fiber roll-outs along with 5G technology. The introduction of 5G technology is expected to have a major impact on telecom and wireless companies. 5G technology is predicted to meet the increasing demand for higher data rates & capacity. It would also enable next-generation IoT and M2M applications which include autonomous vehicles and virtual or augmented reality.
Further, telecom service providers around the globe are focused on Wi-Fi offload strategies to ensure that the quality of Wi-Fi networks becomes carrier-grade. In the telecom industry, demand for VOLTE and LTE testing equipment is expected to grow in the coming years due to the re-establishment of LTE technology. This has created multiple opportunities for small &medium Optical component tester vendors in the market.
Despite the multi-functional property of optical component tester, the higher installation cost and training cost is one of the major restraining factors of the market.
Development in the automotive, IT, and communications sectors in the Asia Pacific market is anticipated to expand at a significant rate during the forecast period.
China leads the optical power meter market due to the factors such as growing fiber-optic network coverage in several cities, the surging focus of the telecom companies on fiber-optic investments, and favorable funding from the government for the implementation of fiber networks.
Rising IT investments are also expected to offer lucrative opportunities for Optical component tester vendors across the world, especially in North America. North America is one of the principal markets for optical spectrum analyzers worldwide.
The region has a high-demand form of nearly all the end-users alike. The swift adoption of Industry 4.0 initiatives boosting automation and a connected industrial environment is one of the significant drivers creating the demand for optical spectrum analyzers in the region.
Some of the key participants present in the global demand of Anritsu Corporation, EXFO, Inc., Yokogawa Electric Corporation, Viavi Solutions Inc., Tecra Tools, Inc., Tessco, Mortek, Huawei Technologies Co., Ltd, Spirent Communications, and Agilent Technologies., among others.
| Report Attribute | Details |
| Growth Rate | CAGR of 4.25% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016-2021 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
Product:
Service:
End-use:
Region:
FMI projects the global demand of the Optical Component Tester market to expand at a 4.25% value CAGR by 2032
North America is expected to be the most opportunistic Optical Component Tester market, expanding at a ~4% CAGR
Anritsu Corporation, EXFO, Inc., Yokogawa Electric Corporation, Viavi Solutions Inc., Tecra Tools, Inc., Tessco, Mortek, Huawei Technologies Co., Ltd, Spirent Communications, and Agilent Technologies., among others.
Explore Similar Insights
Optical Component Tester Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
