Press release
Optical Power Meter Market to Significant Growth Foreseen by 2025
Expanding demand for higher capacity in telecommunication industry has a surge of the request for the highly precise optical power meter, improved connectivity, innovative technology, and growing need for real-time analysis are the primary factor driving the growth of global optical power meter market. Moreover, device accuracy for proper detection and inspection of flaws, increasing safety along with environmental requirements, and increased automation application are some of the prominent factors fueling the growth of optical power meter market over the forecast period. However, difficult to maintain dynamic range, lack of awareness along with technical knowledge, and the high cost of testers may limit the growth of the optical power meter market during the forecast the period.
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Optical Power Meter Market: Segmentation
The optical power meter market has been classified by product type, detector type, power range, application, and end user industry. Based on product type, the optical power meter market is segmented into the following: Benchtop Meters, Portable Meters, Virtual Meters. Based on detector type, the optical power meter market is segmented into the following: InGaAs (Indium Gallium Arsenide), Germanium, Silicon, Others.
Based on power range, the optical power meter market is segmented into the following: High Range, Medium Range, Low Range. Based on application, the optical power meter market is segmented into the following: Installation & Maintenance, Manufacturing, Research & Development, Others. Based on the end user industry, the optical power meter market is segmented into the following: Telecommunication Industry, Electrical & Electronics Industry, Automotive & Industrial Industry, Military and Aerospace Industry, Energy & Utilities Industry, Others.
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Optical Power Meter Market: Overview
Optical power meter market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well soon owing to the fact that it helps in overcome the failure rate of the device, reduce the overall maintenance cost, and provide a precise measurement of the electricity loss, and attenuation loss. Additionally, unique features such as anti-electromagnetic interference, smaller diameter, light weight, resistance to nuclear radiation are the factors that can propel the market revenue growth of optical power meter in the near future.
Based on end user industry, telecommunication industry segment is projected to lead the global optical power meter market over the forecast period attributed to the use of fiber optics systems to transmit telephone signals, Internet communication as well as television signals. Optical power meter has advanced features such as auto-test function, calibrated at multiple wavelengths, alphanumeric LCD display, backlit, and low battery consumption.
Optical Power Meter Market: Region-wise Outlook
Depending on the geographic region, optical power meter market is classified into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. Asia-Pacific is expected to be the leading markets in the global optical power meter market followed by Europe, and Japan is owing to growing telecommunication industry, digitalization, rising power grid problems, rapid industrialization, and increase in adoption of optical test equipment in these regions.
The market in Asia-Pacific is projected to have the fastest growth due to growing demand for research and development activities, and expanding need for high bandwidth communication are some of the factors which are anticipated to rise the increase of optical power meter market throughout the forecast period.
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Optical Power Meter Market: Key Players
Some of the prominent players in the optical power meter market are Thorlabs, Inc., Kingfisher International Pty Ltd., Viavi Solutions Inc., GAO Tek, Inc., Newport Corporation, EXFO Inc., AFL, Edmund Optics Inc., Fluke Corporation, CableOrganizer.com, Inc., INFOS, Inc., Techwin(China) Industry Co., Ltd., Bioptic Co., Ltd., Kn Communication Limited, Dicon fiberoptics Inc., Changzhou Bell Data Communication Equipment Co., Ltd., others.
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