Remote Fiber Testing Equipment Market Size to Grow at a CAGR of 5.6% During the Forecast Period 2021-2026
Adoption of Fiber Optics for 5G Infrastructure Driving the Growth of Remote Fiber Testing Equipment Market.
Hyderabad, India – July 20, 2021 /MarketersMedia/ —
Remote Fiber Testing Equipment Market size was valued at $3.0 billion in 2020, and it is estimated to grow at a CAGR of 5.6% during 2021-2026. The growing demand for Fixed Wireless access networks in telecommunication and networking sector is driving the remote fiber testing equipment industry as these networks offer higher bandwidth and better connectivity compared to conventional alternatives. As remote fiber testing equipment offer many benefits for cable networks including troubleshooting, verification and certification, there has been growing adoption of this equipment. Furthermore, evolution of 5G and its fixed wireless access boost the demand for remote fiber testing equipment industry during the forecast period 2021-2026. The rising demand for components such as optical time domain reflectometers and optical spectrum analysers will drive the market demand.
Remote Fiber Testing Equipment Market Segment Analysis – By Product Type
Optic Time Domain Reflectometer (OTDR) segment held the largest share 28.4% in the Remote Fiber Testing Equipment market in 2019. OTDR is majorly used in many organizations to verify the performance of optical fiber cable which set to drive the remote fiber testing equipment. This equipment also provides advanced diagnostics in order to isolate failure that hinders the network performance. These can also have capability of carrying out tests for multimode and single mode optical fiber links. Development of advanced OTDRs set to drive the market growth.
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Remote Fiber Testing Equipment Market Segment Analysis – By End User
Telecommunication sector is the fastest growing industry in the remote fiber testing equipment market estimated to grow at a CAGR of 5.30% during forecast period 2020-2025. High adoption of fiber optic cables for attaining high speed data transfer has been fueling the remote fiber testing equipment market in this industry. Many companies have been investing and partnering with various companies for 5G infrastructure. For instance, in 2019, Ericsson had partnered with Next-tech wireless in order expand its 5G infrastructure to rural areas in the U.S. Increasing investments for 5G/LTE infrastructure is poised to drive the remote fiber testing equipment market in the telecommunications sector in near future.
Remote Fiber Testing Equipment Market Segment Analysis – By Geography
APAC dominated the Remote Fiber Testing Equipment market in 2020 with a share of 36.1%, followed by North America and Europe. As the APAC countries such as the China, Japan, India, South Korea have huge presence of telecommunication companies, there is huge adoption of remote fiber testing equipment which is set to drive the market in APAC region. APAC is the major region which has large number of data centers that are the largest consumer of fiber optic cables. According to Energy Consumption of Data Centers 2019, in China, the number of small and medium sized data centers had exceeded 4,00,000. Increasing number of data centers is poised to fuel the market. This region has an effective broadband and internet infrastructure that deploy intricate fiber optic cable networks, thereby creating the need for the remote fiber testing equipment. These are the key factors that escalate the growth of remote fiber testing equipment market in APAC.
Remote Fiber Testing Equipment Market Drivers
High investments and government initiatives
According to global system for mobile communications, mobile operators are expected to invest $160 billion for 5G networks internationally by the end of 2020. Penetration of LTE networks and fixed broadband subscription has rapidly increased the demand for remote fiber testing equipment. In addition to these, government initiatives such as Digital India, smart city programs with fiber optic cable network for smooth flow of IoT infrastructure set to drive the market growth.
Adoption of Fiber Optics for 5G Infrastructure
The high bandwidth and speed requirements and low latency requirements for 5G can be delivered by using fiber technology in the access network in order to support increased mobile backhaul and small cell rollout. In addition to these, high investments in 5G infrastructures drive the demand for fiber optic cables which in turn increase the demand for remote fiber testing equipment, thereby driving the market.
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Remote Fiber Testing Equipment Market Landscape
The remote fiber testing equipment top 10 companies include Keysight Technologies, Yokogawa Test and Measurement Corporation, Anritsu Corporation, Fluke Networks, National Instruments, VIAVI Solutions Inc, Anixter International, Kingfisher International Pvt Ltd, EXFO Inc, AFL and others.
Key Takeaways
North America had dominated the Remote Fiber Testing Equipment market in 2020 owing to early adoption of advanced connectivity networks and high investments in adopting them.
Adoption of fiber optic cables with the evolution of 5G networks set to drive the remote fiber testing equipment market.
High investments in research and development of advanced products such as optical spectrum analyzers, optical time domain reflectometers and others is escalating the market growth.
With growing demand for network speeds and bandwidth, there has been increasing demand for fiber optic cables which set to provide opportunities for remote fiber testing equipment.
The major drawback is the security concerns and lack of skilled expertise for solving the issues hinders the growth of the remote fiber testing equipment industry.
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