Optical Spectrum Analyzer Market Size is forecast to reach $240.8 billion by 2026, at a CAGR of 6.15% during 2021-2026. The distribution of power of an optical source over a specified wavelength span is displayed by a specially designed instrument called optical spectrum analyzer. Optical spectrum analyzer market is witnessing a significant growth as there is a requirement advanced optical spectral measurements for both R&D and manufacturing. Optical spectrum analyzers are used in demanding optical metrology applications. These generally range from semiconductor, lithography, space-brone imaging systems, consumer electronics, thermal imaging systems, ophthalmic and others. Optical spectrum analyzers have high speed owing to which it has less signal-to-noise ratio which causes electromagnetic radiation and hence used in medical imaging, telecommunication applications, radio broadcasting and others. This has resulted in the high demand for optical spectrum analyzers. Growth of the telecommunication industry, Healthcare industry, Consumer electronics and others have boosted the growth of the market as this analyzer are used in these industries measure the power of the spectrum of known and unknown signals.
Optical Spectral Analyser Market Segment Analysis - By Type
The Portable optical spectral analyser segment is growing at a significant market value of 6.92% in the forecast period as it is highly used in telecommunication and data communication along with the use in medical applications. The portable optical spectral analyzers are majorly used in optical fiber communication as the RF signal can be detected using these analyzers including the dominant frequency, power, distortion, and noise floor. The adoption of fixed wireless communications, DSL, Broadband internet access, including cable are driving the growth of the market. Furthermore, the residential in countries such as Canada, Mexico and others are subjected to wireline local access and next generation SIP trunk access along with SD-WAN enhancing the use of optical fibre cables influencing the growth of the market positively.
Optical Spectral Analyzer Market Segment Analysis - By End Users
Telecommunications is expected to witness a highest CAGR of 7.05% during the forecast period, owing to the demand for optical fibers in wireless network and growth of the 5G network communication. According to United Nations Conference on Trade and Development (UNCTAD), there are 4,422 colocation data centres among which 80% are present in the developed countries and 40% are accounted in United States. The digital economy of United States contributed to 6.9% of GDP in narrow definition and 21.6% of GDP in broad definition in 2019. This contributed towards the growth of the market as the optical spectrum analysers enable spectral analyses and monitors optical signals and networks by measuring the optical power energy in the data centers. Upsurge in usage of electronics devices and growth in consumer electronics industry have driven the demand for more data centers and internet facilities for communication. Owing to this the demand for transmission of data with maximum speed and minimized speed have resulted in the growth of fiber optic communication resulting in the growth of the market.
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Optical Spectral Analyzer Market Segment Analysis - By Geography
Optical Spectral Analyzer Market in Asia-Pacific region held significant market share of 30.65% in 2020. Growth of consumer electronics enhancing the wireless network infrastructure is set to drive the Optical Spectral Analyzer Market here. Rapid implementation of advanced technology to build efficient and comparatively more cost-effective data storage infrastructure has helped businesses invest in data centres, thereby influencing the development of optics in the countries such as China, India, Japan and others where optical spectral analyser ensures detection of RF signal in the data centers. In Australia, investment by the Federal Government in the roll-out of the national broadband network (NBN) has underpinned the rapid growth of the optical fibre industry in the area over the past five years. The NBN aims to create a groundbreaking connectivity network to access Internet-based data and entertainment for all Australian households, businesses, and government agencies. All these factors have boosted the market growth in the APAC region.
Optical Spectrum Analyzer Market Drivers
Growth of Telecommunication sector:
Evolution of wireless technology have resulted in the growth of telecommunications sector witnessing a significant growth for the optical spectrum analyzers. The upsurge in usage of advanced optoelectronics devices and fiber optic communications have majorly driven the market growth. In 2019, Huawei a telecommunication equipment company has committed to invest up to $800 million over the next three years to expand its presence in Brazil via a new manufacturing facility in São Paulo. As the Brazilian telecoms are planning to make the telecom sector world’s largest 5G spectrum in the year 2020 optical spectrum analysers are used to find interference that negatively impacts wireless performances and eliminates it. In addition, according to Intelligence Node, the number of smartphone users in United States crossed 260 million in April 2020, and smartphone shipments reached $161 million in 2019. This indicates the growth of fibre optics as it provides longer distance link, less bulky physical cabling and active high digital speed electric interface facing the host ASIC thus, driving the growth of optical spectrum analyser market.
Growth of optical spectrum analyzers in the healthcare and medical sector:
The developments in the medical devices and the need for Medical imaging technology has enabled the use of optical spectrum analyzers in medical devices as they are capable of obtaining wavelength emissions from LED sources, lasers, and laser diodes by Fast Fourier Transform (FFT) using a scanning Michelson interferometer in a push/pull arrangement. High demand for cancer treating medical devices owing to the advancement in medical and healthcare industry and growth of the geriatric population has resulted in the surging prevalence of optical spectrum analyzers. In 2020, Government of India announced that the hospital industry in India is set to increase to US$ 132.84 billion by 2022 showcasing growing medical equipment market in the country. The medical equipment is set to grow with the rising demand thereby significantly contributing to the market growth rate.
Optical Spectrum Analyzer Market Challenges:
High cost of maintenance, post COVID-19 challenges:
The outbreak of COVID-19 has resulted in the declining growth of the optical spectrum analyzer market due to various factors such as decrease in demand, indefinite shut down of various manufacturing hubs during lock down, financial constraints, and others. In addition, another restraint to growth of the market is the high maintenance cost and requirement of experts for the proper installation and use. Moreover, FFT spectrum analyzer is not capable of working in higher radio frequencies due to limitations in sampling rate of Analog to Digital Converter (ADC), swept type can detect only Continuous Wave or Continuous Waveforms (CW) signals without any phase informations and others.
Optical Spectrum Analyzer Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Optical Spectrum Analyzer Market. Optical Spectrum Analyzer Market top 10 companies include Thorlabs, Inc., VIAVI Solutions, EXFO, Inc., Anritsu Corporation, Yokogawa Test and Measurement Corporation, Apex Technologies, Finisar Corporation, New Ridge Technologies, ID Photonix GmbH, ADC Corporation among others
Acquisitions/Product Launches
In 2020, Yokogawa launched AQ6377 optical spectrum analyzer to measure the optical spectra of laser light in the 1.9–5.5 ?m wavelength range with high accuracy, wide dynamic range, and high resolution.
In 2019, Anritsu launched new spectrum analyser named “MS9740B” for use in the 5G run ups as it supports multi-mode fiber input and is ideal for manufacturing and evaluating 850nm band VCSEL modules.
Key Takeaways
Advancements in optical technologies and the advent of solid-state optics have helped several manufacturers in the global market to minimize the operations performed by a bench top sized apparatus to a mobile, handheld devices along with the increasing demand for connected environments, especially in the manufacturing sector set to drive the market growth.
Telecommunications sector is expected to witness a highest CAGR of 7.05% the forecast period, owing to investments on wireless communication infrastructure in countries such as China and India have created opportunities for Optical Spectral analysers.
APAC has witnessed a significant share in the market owing to the surge in Telecommunications industry and Consumer electronics industry where these optical spectral analyzers are used for advanced communication systems.
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