The global fiber optics testing market is expected to grow from USD 283 million in 2020 to USD 433 million by 2025, at a CAGR of 8.8% during the forecast period. The fiber optics testing market is growing owing to the increased investments in infrastructure development and surging demand for FTTX. However, most of these industries remained shut during the COVID-19 outbreak. The lesser demand of these applications in the market will impact the fiber optics testing market for the years 2020 and 2021 with its bouncing back in 2022.
In 2019, the fiber optics testing market was mainly dominated by UL LLC (US), Element Materials Technology (UK), Intertek (UK), NTS (US), TÜV Rheinland (Germany), VIAVI Solutions (US), Eurofins Scientific (Luxembourg), EXFO (Canada), Fujikura (Japan), L3Harris (US), and Fluke Corporation (US). These players have adopted various growth strategies, such as product launches, acquisitions, and expansions, to expand their presence in the global fiber optics testing market further. Acquisitions. expansions and new product launches and developments have been the most dominating strategies adopted by major players from January 2017 to May 2020, which helped them to innovate on their product offerings, cope up with the COVID-19 outbreak and broaden their customer base.
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Top 2 players in the Fiber optics testing Market are:
UL LLC (US)
UL LLC is the dominant player regarding the fiber optics testing market in the US and globally. UL LLC certifies, validates, inspects, tests, audits, advises, and trains clients from various industries, such as automotive, food & beverage, life safety and security, lighting, and personal care and beauty. It has five distinct business units, namely, Product Safety, Environment, Life & Health, Verification, and Knowledge Services. It operates in more than 143 countries
The company has published more than 1,500 standards for safety and sustainability and has conducted over 97,000 product evaluations. The company operates in 46 countries of major regions such as Europe, the Middle East, Africa, Latin America, Asia Pacific (APAC), and North America.
Element Materials Technology (UK)
Element Materials Technology is among the frontrunners regarding fiber optics testing globally. The company offers a comprehensive range of testing, inspection, and certification services to the aerospace, transportation, fire, connected technologies, and energy sectors. Formerly known as Stork Materials Technology, it changed its name in November 2011 following a Management Buy-Out backed by the 3i Group PLC in December 2010.
The company’s fiber-optic test programs include major industry standards, such as GR-771, GR-950, GR-3125, and GR-326. It operates 188 facilities that are located in the Americas, Europe, the Middle East, Africa, Asia, and Australia for testing, inspection, certification, and calibration needs.
Fiber Optics Testing Market with COVID-19 impact, by Service Type (Testing, Inspection, Certification), Offering Type (In-House, Outsourced), Fiber Mode (Single Mode, Multimode), Application, Region - Global Forecast to 2025
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