Selbyville, Delaware, Sept. 10, 2020 (GLOBE NEWSWIRE) -- According to reliable estimates, worldwide fiber optics testing market generated revenues worth USD 272 million in the year 2019 and is expected to showcase a y-o-y growth rate of 8.9% between 2020 and 2027. The growth is primarily attributed to rising adoption of fiber optics in telecommunication industry in order to acquire better speed in data transfer applications.
The document also examines various segmentations of the market which are based on service type, offering type, fiber mode, application spectrum, and regional scope while elaborating on their respective impact on the business vertical. Additionally, the study conducts Porter’s Five Forces analysis of the companies formulating the competitive landscape, which further allows for effective decision-making during investment assessment.
For those uninitiated, fiber optics testing is used for analyzing the performance of several fiber optic components such as receivers, splices, detectors, connectors, Laser or LED sources, and fibers. The specification and performance of such components are tested in order to determine their working capacities.
Fiber optics testing comprise of verification testers, OTDR (optical time-domain reflectometers) testers and certification testers. These testers are widely adopted in various industry vertical such as telecommunication, defense & military as well as oil & gas in order to troubleshoot any prevalent errors, thereby facilitating the business scenario.
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Apart from this, rising penetration of fixed broadband subscriptions, growing LTE networks, and sprouting number of data centers are further fueling the market expansion. For instance, Google announced its plans to invest USD 13 billion in data centers across U.S. in the year 2019, which is an increase from its initial investment of USD 9 billion in 2018. The company reportedly plans to develop new data centers in Oklahoma, Texas, Ohio, Nevada, Nebraska, and other cities as well as expand its data center capabilities in New Yok, Chicago, and Seattle.
Growing demand for FTTX solutions and escalating investments towards developing 5G infrastructure have increased the adoption of fiber optics testing solutions across the globe, which in turn is augmenting the industry remuneration. In fact, the UK government is reportedly planning to invest over USD 52.28 million in 5G testing as well as in relevant trial projects across the country in the coming years. However, high installation and training cost may act as a restraining factor to the overall market growth.
Regional overview
Global fiber optics testing market is segmented into North America, Asia-Pacific, Europe, Latin America, and rest of the world. According to estimates, North America currently accounts for significant market share and is expected to register consistent growth during the study period. Availability of advanced telecommunications infrastructure along with rising adoption of high speed data transfer solutions are augmenting the regional demand for fiber optics testing methods.
On the other hand, Asia-Pacific fiber optics testing market is slated to record highest CAGR through 2026, primarily due to escalating investments towards 5G infrastructure development.
Competitive scenario
The competitive landscape of global fiber optics testing market is defined by companies such as Fluke Corp., L3Harris Technologies, Fujikura Ltd., EXFO, Eurofins Scientific, Viavi Solutions Inc., The TÜV Rheinland Group, Intertek Group plc, Element Materials Technology Ltd., and UL LCC among others.
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Global Fiber Optics Testing Market by Service Type (Revenue, USD Million, 2017-2027)
- Certification
- Inspection
- Testing
Global Fiber Optics Testing Market by Offering Type (Revenue, USD Million, 2017-2027)
- Outsourced
- In-House
Global Fiber Optics Testing Market by Fiber Mode (Revenue, USD Million, 2017-2027)
- Multimode
- Single Mode
Global Fiber Optics Testing Market by Application Scope (Revenue, USD Million, 2017-2027)
- Medical
- Railway
- Energy & Power
- Oil & Gas
- Manufacturing
- Military & Aerospace
- Cable Television
- Private Enterprise
- Telecommunication
- Others
Global Fiber Optics Testing Market Regional Analysis (Revenue, USD Million, 2017-2027)
North America
- Canada
- U.S.
Europe
- Italy
- Spain
- France
- Germany
- U.K.
- Rest of Europe
Asia-Pacific
- South Korea
- Japan
- Australia
- India
- China
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
Rest of the World
Global Fiber Optics Testing Market Competitive Scenario (Revenue, USD Million, 2017-2027)
- Fluke Corporation
- L3Harris Technologies
- Fujikura Ltd.
- EXFO
- Eurofins Scientific
- Viavi Solutions Inc.
- The TÜV Rheinland Group
- Intertek Group plc
- Element Materials Technology Ltd.
- UL LLC
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Fiber Optics Testing Market, by Region, 2018-2027 (USD Million)
1.2.2. Fiber Optics Testing Market, by Service Type, 2018-2027 (USD Million)
1.2.3. Fiber Optics Testing Market, by Offering Type, 2018-2027 (USD Million)
1.2.4. Fiber Optics Testing Market, by Fiber Mode, 2018-2027 (USD Million)
1.2.5. Fiber Optics Testing Market, by Application, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fiber Optics Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fiber Optics Testing Market Dynamics
3.1. Fiber Optics Testing Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Fiber Optics Testing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Fiber Optics Testing Market, by Service Type
5.1. Market Snapshot
5.2. Global Fiber Optics Testing Market by Service Type, Performance - Potential Analysis
5.3. Global Fiber Optics Testing Market Estimates & Forecasts by Service Type 2017-2027 (USD Million)
5.4. Fiber Optics Testing Market, Sub Segment Analysis
5.4.1. Testing
5.4.2. Inspection
5.4.3. Certification
Chapter 6. Global Fiber Optics Testing Market, by Offering Type
6.1. Market Snapshot
6.2. Global Fiber Optics Testing Market by Offering Type, Performance - Potential Analysis
6.3. Global Fiber Optics Testing Market Estimates & Forecasts by Offering Type 2017-2027 (USD Million)
6.4. Fiber Optics Testing Market, Sub Segment Analysis
6.4.1. In-House
6.4.2. Outsourced
Chapter 7. Global Fiber Optics Testing Market, by Fiber Mode
7.1. Market Snapshot
7.2. Global Fiber Optics Testing Market by Fiber Mode Performance - Potential Analysis
7.3. Global Fiber Optics Testing Market Estimates & Forecasts by Fiber Mode 2017-2027 (USD Million)
7.4. Fiber Optics Testing Market, Sub Segment Analysis
7.4.1. Single Mode
7.4.2. Multimode
Chapter 8. Global Fiber Optics Testing Market, by Application
8.1. Market Snapshot
8.2. Global Fiber Optics Testing Market by Application, Performance - Potential Analysis
8.3. Global Fiber Optics Testing Market Estimates & Forecasts by Application 2017-2027 (USD Million)
8.4. Fiber Optics Testing Market, Sub Segment Analysis
Chapter 9. Global Fiber Optics Testing Market, Regional Analysis
Related Report:
Fiber Optics Market Size & Forecast, 2017 – 2026
Global Fiber Optics Market is anticipated to reach USD 7 billion by 2026, as per new research report. The market for Fiber Optics is propelled by factors including, increasing penetration of internet, rising government funds for the development of broadband infrastructure, and intense research investments by the companies for development of innovative and new technology in the fiber optic to enable cost-savings. Increased industrialization, increasing adoption of smart devices resulting in high demand for internet, and blooming telecommunication industry are the major factor for propelling market growth in Middle East & Africa.
The plastic optic fiber market is expected to notice a high growth during the projected period. The core material (polymer) used for construction of plastic optic fiber is different from the material (glass) used in single mode and multimode. This provides a dynamic application and helps in saving cost.
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