Report: Optical spectrum analyzer market projected to grow at 6.7% CAGR to 2027
Future Market Insights (FMI) recently published a report, titled ‘Optical Spectrum Analyzer Market—Global Industry Analysis 2013–2018 and Market Forecast 2019–2027.’ The approximately US$ 245 million global optical spectrum analyzer market (2018) is estimated to grow at a CAGR of 6.7% over 2019-2027. Rapid developments in the network infrastructure has been cited the key driving force for the expansion of the optical spectrum analyzer market, FMI’s analysis notes.
Advanced Optical Spectrum Analyzers Finding Wide Applicability in ‘Optics’
Increasing need for long-distance, high-speed data transmission will be among the key factors providing a strong impetus to the revenue growth of optical spectrum analyzer market. Moreover, a significant increase in the number of Internet and wired broadband subscriptions is supporting the rapid adoption of optical spectrum analyzers.
As optical spectrum analyzers remain imperative for signal discrimination in networking, the expanding applicability in the space of optics is likely to create multiple high-potential growth opportunities for the optical spectrum analyzer market in the near future. Mounting demand for advanced optical spectrum measurement across various industries as well as in optical device manufacturing will also assist the revenue growth of optical spectrum analyser market, according to the report.
Increasing Investments in IT & Telecommunication Infrastructure Boosting Demand for Optical Spectrum Analyzers
A key tool for the characterization of multichannel systems, as well as for the determination of channel separation and dynamic ranges, optical spectrum analyser will continue to witness high demand within the IT and telecommunication industry. Moreover, continuous innovations in network testing equipment, coupled with the rising focus of network operators on migrating their present network infrastructure to next-generation network infrastructure, will continue to propel the growth of optical spectrum analyzer market.
Furthermore, rapid developments in the telecommunication sector across various economies of the world is boosting the optical spectrum analyzer market. For instance, revenue from the telecom equipment sector is expected to grow beyond US$ 26 billion by 2020, according to the India Brand Equity Foundation.
Communications to Soon Gain an “All-optical” Status, Favoring Sales of Optical Spectrum Analyzers
Modern communications are rapidly advancing towards the “all-optical” systems status, which is creating high-potential growth opportunities for optical spectrum analyzers equipped with new features and tools for emerging applications. In addition, various standards and the regulatory framework set for an essential level of network speed and bandwidth are significantly contributing to the growth of the optical spectrum analyzer market. Moreover, the increasing adoption of optical spectrum analyzers that incorporate Fast-Fourier Transform (FFT) measurement is significantly boosting the optical spectrum analyzer market.
Key Players Emphasizing Development of Advanced Optical Spectrum Analyzers
According to FMI’s analysis, EXFO, Inc., Yokogawa Corporation, and Anritsu are among the leading players in the optical spectrum analyzer market. These leading players are continuously focusing on offering advanced optical spectrum analyzers to meet the growing demand for advanced measuring instruments in the telecommunication sector.
For instance, in March 2018, Yokogawa Test & Measurement introduced AQ6360, an optical spectrum analyzer for production line applications. This new product also helps in the testing and inspection of the semiconductor lasers used in optical amplifiers, optical transceivers, as well as for other optical communication devices.
Some of the other players in the optical spectrum analyzer market are Viavi Solutions, Inc., AMS Technologies, VeEX Inc., Finisar, Optoplex Corporation, Aragon Photonics, and New Ridge Technologies.
Future Market Insights has segmented the global optical spectrum analyzer market on the basis of product type, industry, and regions. By product type, the optical spectrum analyzer market is segmented into benchtop, portable, and handheld. On the basis of industry, the optical spectrum analyzer market is segmented into IT & telecommunication, consumer electronics, healthcare & life sciences, energy & utilities, automobiles, and others.
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