Increase in Fiber Cable Deployments to Drive Fiber Optic Test Equipment Market Growth
According to a report released today by research firm Frost & Sullivan (News - Alert), increases in fiber cable network deployments has likewise increased demand for fiber optic test equipment globally. As such, according to the report, entitled "Technology Advancements Drive the Need for Fiber Optic Test Equipment Globally," global market revenue for fiber optic test equipment is estimated to reach $805.8 million in 2018.
As fiber optic communication becomes the future of networking and communication, and as the optic network becomes the framework of every industry, testing for insertion loss and bandwidth will be vital to ensure effective operations. As a result, the global fiber optic test equipment market will be presented with sizeable growth opportunities in the coming years.
Indeed, as technological advancements enable real-time 40G and 100G network deployments, fiber optic testing will become increasingly necessary.
"The Internet presently requires swift data transfer for switching, routing, virtualization, and convergence," said Frost & Sullivan industry manager Sujan Sami, in a statement. "Fiber optic cables are capable of such high-speed transfers, and their increasing use necessitates fiber optic testing."
Furthermore, networks and electronics are becoming more complex, making it necessary to develop fiber optic test equipment with improved functionality, ease of use and testing capabilities. For example, according to Frost & Sullivan, powerful bit error rate testers, in addition to integrated and next generation testing systems will increase test frequency, subsequently adding to market revenue.
The two major factors standing in the way of fiber optic test equipment's success are lack of customer awareness and the fact that, while the number of fiber cable networks has increased, the number monitored for proper functioning has not.
Frost & Sullivan also recently, released its forecast for the North American light commercial vehicles telematics market, which states that revenue will reach $1.1 billion by 2018 as long as vendors are able to better target small fleets.
Meanwhile, the research firm today recognized Vidtel with its 2012 North America Frost & Sullivan Entrepreneurial Company of the Year Award.
Edited by Brooke Neuman