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Fiber Optic Test Equipment Market: In-depth Market Research on Industry Expansion, Technological Advancements, Market Size, and Share
Fiber Optic Test Equipment Market
As per the report, the fiber optic test equipment market size has grown rapidly in recent years. It will grow from $1.12 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The fiber optic test equipment market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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Expanding 5G And LTE Networks Drive Growth In The Fiber Optic Test Equipment Market
The rising 5G or LTE (long-term evolution) network adoption is expected to propel the growth of the fiber optic test equipment market going forward. 5G (5th Generation) and LTE are both technologies used in mobile telecommunications to provide high-speed wireless internet access to users. It arises due to demand for data, an increasing remote work culture, and the growing adoption of smartphones. Fiber optic test equipment is used in 5G and LTE networks to ensure the integrity and reliability of the fiber optic cables and helps operators deploy, maintain, and optimize the fiber-optic infrastructure that forms the backbone of these networks. For instance, in April 2023, according to 5G Americas, a US-based wireless industry trade organization that represents 5G mobile networks and wireless technology in the US, 5G wireless connections increased by 76% to reach 1.05 billion from 2021 to 2022. It is expected to reach 1.9 billion by the end of 2023 and 5.9 billion by 2027. North America is projected to have 215 million 5G connections by the end of 2023. Therefore, the rising 5G or LTE network adoption is driving the growth of the fiber optic test equipment market.
Innovative Products Drive Growth In The Fiber Optic Test Equipment Market
Major companies operating in the fiber optic test equipment market are focusing on innovative solutions, such as the OPM-200 power meter, to offer customers a wide range of technologies for application-specific field monitoring and maintenance. This high-performance optical power meter is a device used to measure the power in an optical signal and facilitates the seamless integration of advancements in optical communication technology. For instance, in March 2023, Santec Corporation, a Japan-based manufacturer of advanced optical components, launched a new high-performance OPM-200 power meter. This innovative meter is designed to provide accurate and precise measurements with a dynamic range of +8 dBm to -80 dBm (decibel-milliwatts). It is equipped with features including free space detectors, 1 MHz sampling with a user selectable averaging time between 50 and 1 s, a buffered output of up to 128,000 data points, an external trigger for executing a data capture, and analog outputs. These factors contribute to the growing demand for advanced products like the OPM-200 power meter among major players in the fiber optic test equipment market.
The fiber optic test equipment market covered in this report is segmented -
1) By Equipment Type: Optical Light Sources, Optical Power and Loss Meter, Optical Time Domain Reflectometer, Optical Spectrum Analyzers, Remote Fiber Test System, Other Equipment Types
2) By Testing Methods: Continuity Test, End-To-End Insertion Loss Test, Optical Power Measurement Test, Optical Radiation Test, Mechanical Test, Environmental Test, Other Testing Methods
3) By Fiber Mode: Single Mode, Multimode
4) By End-User Applications: Telecommunications, Data Centers, Industries, Other End-user Applications
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Major companies operating in the fiber optic test equipment market are Sumitomo Electric Industries Ltd., Kingfisher International Limited, Corning Incorporated, Molex LLC, Fujikura Ltd., Agilent Technologies Inc., Keysight Technologies Inc., Yokogawa Corporation, Rosenberger OSI GmbH & Co. OHG, Lumentum Operations LLC, VIAVI Solutions Inc., Thorlabs Inc., Tektronix Inc., Fluke Corporation, Anritsu Corporation, Yokowo Co. Ltd., EXFO Inc., JDS Uniphase Corporation, OptoTest Corporation, M2 Optics Inc., FiberQA LLC, VeEX Inc., OZ Optics Limited, Fibertronics Inc., Precision Rated Optics (PRO), Exfiber Optical Technologies Inc.
Contents of the report:
1. Executive Summary
2. Fiber Optic Test Equipment Market Report Structure
3. Fiber Optic Test Equipment Market Trends And Strategies
4. Fiber Optic Test Equipment Market - Macro Economic Scenario
5. Fiber Optic Test Equipment Market Size And Growth
…..
27. Fiber Optic Test Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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