The global fiber optics testing market is estimated at $277.5 million in 2020, and is expected to hit $605.5 million by 2030. This registers a CAGR of 8.6 percent from 2021 to 2030, according to the report published by Allied Market Research.
“A surge in investments in INRA (Internally Nitrided Retractory Alloy) fiber mode development, rise in demand for fiber to the premises (FTTx), and rapid development of the telecom industry drive the growth of the global fiber optics testing market,” the report said. “On the other hand, the 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.”
The pandemic has slowed down fiber optic production, which has reduced the growth in the number of homes that fiber will pass in 2021. “This, in turn, impacted the global fiber optics testing market negatively,” the report said. “However, the global situation is getting better at a slow and steady pace, and the market is expected to get back on track soon.”
Based on geography, North America represented more than one-third of the global fiber optics testing market. The Asia-Pacific is projected to have the fastest growth with CAGR of 12.2 percent by 2030. The Fiber Broadband Association has estimated that fiber currently passes nearly 40 percent of 129 million U.S. homes with a penetration expected to reach 50 percent by 2025.
Gigabit internet coverage in the U.K. has grown from 6 percent in 2019, to 26.9 percent a year ago and has now surpassed 50 percent, Inside Towers reported. It was helped by $6.83 billion investment by the government.
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