CHICAGO, Aug. 11, 2020 /PRNewswire/ -- According to a new market research report "Fiber Optics Testing Market with COVID-19 impact, by Service Type (Testing, Inspection, Certification), Offering Type (In-House, Outsourced), Fiber Mode (Single Mode, Multimode), Application, Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Fiber Optics Testing Market is expected to grow from USD 283 million in 2020 to USD 433 million by 2025, at a CAGR of 8.8% during the forecast period. The fiber optics testing market is growing owing to the increased investments in infrastructure development and surging demand for FTTX. However, most of these industries remained shut during the COVID-19 outbreak. The market penetration of the Fiber Optics Testing Market is also analyzed for both pre-and post-COVID-19 scenarios.
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Testing services are expected to hold the largest share in the Fiber Optics Testing Market
Based on service type, the Fiber Optics Testing Market has been segmented into testing services, inspection services, certification services and other services. Fiber optics testing services ensure that the products have met the quality, technical, safety, and performance regulatory standards. Fiber optics are widely used in verticals such as telecommunications, aerospace & defense, manufacturing, and government. All fiber optic cables undergo testing to verify the quality of components and their installation process. Hneceforth, testing services are attributed to hold largest share of fiber optics testing in coming years.
Outsourced services are expected to grow at a faster rate during the forecast period
The market for outsourced services is expected to grow at a higher rate in the coming years. With the constantly expanding fiber optic network and the increasing number of users, the development of standardized fiber testing practices and stringent fiber optic testing policies is highly important. In fiber optic testing services, companies require modern metrology labs, and service providers are required to get their fiber optic testing and measurement equipment verified periodically. All these factors would lead to a higher growth rate of outsourced services in the coming years. Also, the presence of companies such as Viavi Solutions (US), EXFO (Canada), Eurofins Scientific (Luxembourg), UL LLC (US), and Intertek (UK) increase the credibility of outsourced services.
Single mode to hold the largest market share in the Fiber Optics Testing Market during the forecast period
Single mode fibers are likely to continue to hold a larger size of the fiber optics testing market due to their high-speed data rates, and low attenuation and external interference, at much higher speeds than multimode fibers. This mode is typically used in long distances and higher bandwidth runs by Telcos, Community Access Television (CATV) companies, and colleges and universities.
Private enterprises are expected to grow at the fastest rate in the Fiber Optics Testing Market during the forecast period
Optical fiber cables are used in private enterprises for data center links and long-distance campus networks. This application requires high-speed, dense, and reliable communication networks, which can be provided by fiber optic technology.
Browse in-depth TOC on "Fiber Optics Testing Market"
195 – Tables
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226 – Pages
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APAC held the largest market share in the Fiber Optics Testing Market between 2020 and 2025
The Fiber Optics Testing Market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have rising infrastructural developments. The decrease in the number of COVID-19 patients in China is slowly leading to normal manufacturing activities in the country. This, in turn, is expected to drive the growth of the Fiber Optics Testing Market in APAC, but it is expected that this growth will not be as significant as it would have been in the pre-COVID-19 era.
The key market players in the market are UL LLC (US), Element Materials Technology (UK), Intertek (UK), NTS (US), TÜV Rheinland (Germany), VIAVI Solutions (US), Eurofins Scientific (Luxembourg), EXFO (Canada), Fujikura (Japan), L3Harris (US), and Fluke Corporation (US). These players are increasingly undertaking product launches, acquisitions, and expansions, to develop and introduce new fiber optics testing solutions in the market.
Fiber Optic Components Market by Component (Transceivers, AOCs, Cables, Amplifiers, Splitters, Connectors, Circulators), Data Rate (10G, 40G, 100G, above 100G), Application (Communications, Distributed Sensing) - Global Forecast to 2023
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