Transparency Market Research has revealed the global size of the fiber optic testing equipment market.
Fiber optic testing equipment market will reach $936.66 million by 2025, expanding at a CAGR of 5.7 percent from 2017 to 2025, from $571.87 million in 2016.
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Main companies in the fiber optic testing equipment market are Anritsu, Keysight Technologies, JDS Uniphase, EXFO, Tektronix and Fluke.
Fluke Corporation has recently acquired small testing companies such as Hawk IR International and eMaint Enterprises.
Installation and maintenance segment dominated the global fiber optic testing equipment market, accounting for 68.4 percent of the market in terms of revenue in 2016. This segment is projected to retain its leading position across different regions.
Measurement solutions segment is projected to witness significant growth due to the large scale application of fiber optic testing equipment in the telecom industry.
Asia Pacific was the dominating region for fiber optic testing equipments, with a 54.5 percent of the overall revenue in 2016. Asia Pacific is expected to emerge as the most attractive regional market for fiber optic testing equipment for future growth potential – driven by telecom industry.
The telecom industry in Asia Pacific is focusing on the implementation of 5G mobile network before the winter Olympics in 2018 in Tokyo, Japan. 5G mobile will fuel the demand for fiber optic testing equipment in the next few years.
Dearth of skilled professionals specializing in the functioning of fiber optic testing equipment and their application in technologies such as LTE and LTE M2M owing to their high level of complexity are the main challenges.
“Employing the proper skilled and trained personnel to work around these technologies could be a costly affair, which is an additional cost of operating the already costly product varieties such as remote fiber test system fiber optic testing equipment,” Transparency Market Research said.
The high cost of operation and dearth of skilled workforce are expected to hamper the growth prospects of the global fiber optic testing equipment market.
