SOURCE: BCC Research LLC

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March 07, 2016 06:00 ET

Technology, Automation and Asia-Pacific Driving Growth in Optical Test Equipment Market, Reports BCC Research

WELLESLEY, MA--(Marketwired - March 07, 2016) - The optical test equipment market should experience robust growth partly due to improved "last mile" connectivity and increased automation of manufacturing utilities. BCC Research reveals in its new report that rising foreign investment as well as higher numbers of entrepreneurs due to government subsidies in the developing countries of Asia-Pacific should lead the private sector to become the fastest-growing end-use segment of the market.

Optical test equipment, or optical measuring equipment, measures and characterizes the properties of light. These devices find application across all stages of product development, including installation, maintenance, manufacturing and R&D.

The global market should reach $947.2 million in 2020 from $729.8 million in 2015, reflecting a five-year compound annual growth rate (CAGR) of 5.4%. The telecommunication and broadband industry, the top consumer of optical test equipment, is expected to remain the market leader over the forecast period. Increasing focus on last-mile connectivity and increasing usage of data centers will drive demand in this end-use segment. Asia-Pacific, as an end-use segment, should demonstrate the highest rate of growth with a five-year (2015-2020) CAGR of 10.1%.

The optical test equipment market should undergo robust growth during the forecast period. Rising demand for R&D as well as increasing application of fiber optics, demand for medical diagnosis and computer-aided design and computer-aided manufacturing (CAD/CAM) are among key growth drivers. A shortage of skilled precision-machine operators also is boosting demand for automated optical testing used for inspection and maintenance on production lines. Moreover, the lack of applicability of non-optical systems is fueling the demand for optical systems, which in turn is driving growth, as well.

The rapid pace of industrialization, as well as increased demand by new businesses for high bandwidth communication, has led to higher consumption of optical test equipment. The increased demand also reflects the desire of existing business entities to achieve competitive advantages from switching to modern technologies. Owing to these factors, the demand for high bandwidth communication has risen significantly increased to a large extent.

Increasing field applications of fiber optics and rising demand for multifunctional optical equipment is driving the optical test equipment market globally, as well. Manufacturers' emphasis on product quality is boosting demand for both high-quality fiber optics products and optical test equipment. With trends shifting towards fast, easy and simple solutions, the demand for optical test equipment is expected to increase considerably in the future.

"Asia-Pacific is expected to be the largest and fastest growing market for optical test equipment globally. The presence of large numbers of manufacturing utilities and demand for improved product quality is one of the major factors fueling the demand," says BCC Research analyst Sinha G. "Also, automation of existing telecom and power companies are having a positive impact on the demand for optical test equipment in Asia-Pacific. China, India, Japan and South Korea are some of the major countries in the region that are fueling the demand for optical test equipment."

Optical Test Equipment: Global Markets (PHO023A) analyzes the industry by technology, by type, and by end-user application. The report examines emerging applications, trends, pricing considerations, R&D, government regulations, and competitive technologies. Analyses of global market drivers and trends, with data from 2014, 2015, and projections of CAGRs through 2020 also are provided.

About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information@bccresearch.com.

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