Fiber Optic Test Equipment Market to Reach $1.78 Billion by 2033

A new report from Future Market Insights (FMI) details the outlook for the fiber optic test equipment market from 2023-2033.

FMI estimates that the fiber optic test equipment market will be worth $923 million by 2023 and is expected to reach $1.78 billion by 2033, with a CAGR of 6.8% during the forecast period.

The growth of the market can be attributed to the increase in demand for fiber optic cable networks and types of fiber optic cables.

The report states that the fiber optic test equipment market sales will reach $865.1 million in 2022.

Specifically, optical time domain reflectometers (OTDR testers) are likely to continue to be favored equipment amid strong demand for Tier-2 certification standards and increased investment in 4G/5G deployments.

By 2030, the main end users of this equipment are likely to remain telecommunications service providers.

Interestingly, the East Asian fiber optic test equipment industry is likely to perform better than the North American industry during the forecast period.

Asia is a significant market for fiber optic test equipment, with governments in emerging economies such as India and China looking to continue encouraging its use as 5G networks continue to develop.

This huge demand creates a huge prospect for the fiber optic test equipment market as the growing need for real-time operations requires constant testing of insertion loss and bandwidth to provide services efficiently.

Real-time 40-gig and 100-gig network deployments to achieve high fiber performance are also likely to drive market demand.

Although the fiber optic test equipment market is expanding significantly, there is a lack of testing awareness among customers, which is hindering the market expansion.

Regional share of the market

The largest portion of the global fiber optic test equipment market is likely to be in North America owing to full-stream 4G deployment. Hence, the United States is expected to acquire 21.2% of the fiber optic test equipment market share from 2023 to 2033.

One market that is expected to grow at a fairly fast pace is the Asia Pacific region, which is expected to be driven by the increase in FTTH implementations in the aforementioned emerging countries such as India and China.

The Chinese market is expected to grow at a CAGR of 8% during the forecast period as the industry grows. Elsewhere in Asia, Japan is expected to gain 3% market share during this period, while India is likely to grow at a CAGR of 10.7% during the same period.

In Europe, the fiber optic test equipment market in Germany will account for 4.9% of the market share during this period, while the market in the UK will grow at a CAGR of 4.8%.

Finally, Australia is expected to account for 3.4% of the market share between 2023 and 2033.