Fiber Optics Testing Market Is Expected to Reach $605.5 Million By 2030: Says AMR

(MENAFN- GlobeNewsWire - Nasdaq) Portland,OR, Oct. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fiber optics testing market was estimated at $277.5 million in 2020 and is expected to hit $605.5 million by 2030, registering a CAGR of 8.6% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Surge in investments in inra fiber mode development, rise in demand for Fiber to the x (FTTx), and rapid development of the telecommunications industry drive the growth of the global fiber optics testing market. On the other hand, high cost associated with the installation and training for fiber optics testing impede the growth to some extent. However, increase in adoption of 5G networks and surge in need for transforming existing fiber Optics networks are expected to create lucrative opportunities in the industry.

COVID-19 Scenario

• Huge slowdown and unavailability of workforce across the globe led to halted production facilities of the electronics and semiconductor sectors across the globe, especially during the initial phase. This, in turn, impacted the global fiber optics testing market negatively.
• However, the global situation is getting better at a slow & steady pace, and the market is expected to get back on track soon.
  

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The global fiber optics testing market is analyzed across fiber mode, service type, offering, application, and region. Based on fiber mode, the single fiber mode segment accounted for more than three-fifths of the total market share in 2020, and is projected to rule the roost by the end of 2030. The multi-fiber mode segment, on the other hand, would cite the fastest CAGR of 9.80% throughout the forecast period.

Based on service type, the testing segment contributed to nearly two-fifths of the total market revenue in 2020, and is expected to lead the trail by 2030. The inspection segment, however, would grow at the fastest CAGR of 9.80% from 2021 to 2030.

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Based on geography, North America held the major share in 2020, garnering more than one-third of the global fiber optics testing market. The Asia-Pacific region would exhibit the fastest CAGR of 12.20% by 2030. The other three provinces discussed in the report include Europe, and LAMEA.

The key market players analyzed in the global fiber optics testing market report include UL LLC, TÜV Rheinland, VIAVI Solutions, Eurofins Scientific, EXFO, Fujikura, Element Materials Technology, Intertek, NTS, L3Harris, and Fluke Corporation. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research , is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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