The optical power meter market size was worth US$ XX billion in 2022 and is estimated to reach US$ XX billion by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
The optical power meter is a measuring device to detect an optical signal's power in an optical fiber. There are wide range of optical power meters present in the market for testing single-mode and multimode fiber networks at different wavelengths 850/ 1300/ 1310/ 1490/ 1550/ 1625nm.
These meters are mainly used for installation, maintenance, and testing in fiber-optic networks. The optical power measurement market has been highly competitive with technology advancements. The new optical power meter launches in the market include additional features such as high-visibility, high-resolution color screen, an excellent man-machine interface, wireless capabilities and green manufacturing practices.
The global optical power meter market growth is driven by advancement in technologies and high demand from industries to experience uninterrupted services.
High demand from industries to experience uninterrupted services
The optical power meter market is expected to drive with high demand from industries to experience uninterrupted services. The optical power meters provide cutting-edge connectors, electronics, and wireless technology to meet non-stop fiber network expansion and allow OPM speed and reliability. Service providers need to increase their fiber footprint to homes, businesses and data centers by maintaining the quality of experience and reduce operational expenses, owing to the need for optical power meters.
According to NTT-Advanced Technologies, 98% of cable installers report connector end-face contamination is the leading cause of network failure. These problems can be avoided by combining fiber cleaning and inspection capabilities into optical power measurement devices. For instance, In 2021, EXFO Inc has signed a contract to supply optical test heads and test access switching from its cloud-based Nova Fiber remote fiber test system. Moreover, the current optical power meters have been modified to improve battery life and bluetooth communication for industrial products driving the market growth in the forecast period.
Alternatives for optical power meter
The optical power meter market is impacted by the presence of optical time-domain reflectometer as it offers additional features than optical power meter in various aspects. For instance, OTDR can measure the fiber breakpoint's length, the distance between the fiber breakpoint and test point, whereas the optical power meter can only test the received optical power. However, optical power meter is still considered more reliable and accurate measurements.
Morover, lack of technical knowledge and difficulty to manage dynamic range are also some of the major factor for retraining the global optical power meter market growth during the forecast the period.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the optical power meter industry have seen a notable impact as all the production work, factories and other activities were closed. The production was hindered by shortage of raw materials, halts and supply chain disruption globally. After the pandemic, there are still various restrictions imposed by the governments, such as working with half the workforce and fewer operating hours hindering the market's production cycle. The losses incorporated with the cancellation of ongoing market-related projects reduced demand from the end-user industries, including telecommunication, mining, electrical & electronics, automotive & industrial, etc. For instance, In India, the BharatNet Phase-II project, aimed to provide last mile connectivity through a fiber cable network was delayed due to the government restrictions amid pandemic, affecting the market growth.
By product type, the optical power meter market is broadly classified into benchtop, portable and virtual optical power meter.
The portable type instrument market is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The portable type instrument is expected to hold the largest market for the optical power meter market. Its dominance in the forecast period is expected due to the numerous features: automatic wavelength identification and switching, frequency ID/tone, intelligent backlight control, data storage function, USB communication port, reference power level and sser self-calibration function.
The portable optical power meters are primarily used in maintenance in telecom application, CATV, FTTH, LAN and fiber optic lab testing. The market has observed a significant growth with new product launches such as, in 2021, Viavi Solutions launched SmartPocket optical power meter for the growing need for faster, more reliable fiber deployments in fiber testing, activation, and troubleshooting requirements. The product will reduce costs, improve quality of service, minimize downtime and speed time to revenue. In 2018, INNO Product Type launched optical power meter V30 with multiple functions of the VFL, OPM and fiber face inspection for use in the fields of communication, construction and maintaining optical cable and data centers.
Asia Pacific region holds the largest market for the global optical power meter globally
Asia Pacific holds the largest market share for the optical power meter market globally and is expected to continue its dominance in the forecast period with expanding telecommunications companies, internet communication and demand in numerous industries including medical, defense and government, industrial and commercial. The global optical power meter market is expected to grow with expanding fiber optics industry in the region.
The region has emerged with massive ongoing projects in the fiber optics such as Cambodia Fiber Optic Communication Network Co., Ltd will construct approximately 2,000 kilometers of metro and regional fiber optic backbone networks to provide broader coverage across suburban areas and major cities with an aim for 100 % urban and 70 % rural broadband coverage by 2020.Moreover, according to the Industry Analysis, sales for India's fiber-optic market were increased by approximately 20% in 2019.
The region has also observed significant launches and expansions in the market. In July 2020, Anritsu launched the Anritsu Corporation launched new MU100023A OTDR*1 Module for the Network Master Pro MT1000A optical network measuring instrument, providing triple-wavelength support (1310/1550 nm, 1650 nm SMF) to the existing line of modules. Moreover, Japanese company Yokogawa Electric Corporation signed an agreement to invest in the Nippon India Digital Innovation Fund of Funds to accelerate its business expansion in India.
The optical power meter market is moderately competitive with the local player’s presence followed by the global companies, contributing to the significant share in the market growth. Some of the key players contributing to the growth of the market are Tempo Communications, Exfo Inc, Stanlay, Hioki E.E. Corporation, Gentec Electro-Optics, Edmund Optics, Artifex Engineering, Ophir Optronics Solutions Ltd, Gao Tek & Gao Group Inc, Laser Components and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions and collaborations, contributing to the growth of the optical power meter market globally.
Overview: Tempo Communications offers wide range of innovative and industry-leading test & measurement solutions for the communication service provider industry. The company provides solutions for all network deployment stages, enabling the development, installation, and maintenance of Fiber, xDSL, Cable & Wireless networks.
Product Portfolio: The Company manufactures a wide range of products including cable TV, DSL, ethernet, fiber optic instruments, hand tools, location and irrigation, VDV Product Types and Wi-Fi.
Key Development: In 202o, Tempo Communications has launched a new family of optical power meters as part of its fiberTOOLS to ensure optimum performance during the installation and maintenance of fiber-optic networks.
The global optical power meter market report would provide access to an approx: 77 market data table, 82 figures and 290 pages.
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