The Optical spectrum analyzer market is considerably gaining from the rising demand in the IT and telecommunication industry. According to a new study by Future Market Insights (FMI), the market will continue exhibiting steady growth since the optical spectrum analyzer is an important tool in signal discrimination that finds application across diverse industries starting from IT to aerospace.
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Some of the key takeaways from the report are highlighted below-
- A portable optical spectrum analyzer is gaining traction as a more preferred product among various industries
- The wavelength meter mode of the optical spectrum analyzer is highly sought-after in the market
- The IT & telecommunication industry will continue exhibiting high growth for optical spectrum analyzers
- North America has emerged as a highly lucrative market. In the coming years, the demand from South Asia as well is expected to rise at a high rate
“Reflective or refractive techniques are used by the optical spectrum analyzer in order to distinguish wavelengths of light. This factor makes it a highly sought-after technology used in the IT & telecommunication industry. Since in terms of efficiency, portability, and cost-effectiveness portable optical spectrum analyzers are becoming the first preference of diverse end-use industries, the key market players are focusing on launching better quality products,” said an FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has hampered the growth of several industries, including key end-users of the optical spectrum analyzer market such as IT, aerospace, and others. At the beginning of this year, the manufacturing units had to struggle with restrictions such as shortage of raw materials, a decrease in manpower, a closed supply chain, and others during extended periods of lockdown.
Contrary to this, the pandemic resulted in a surge in demand for optical spectrum analyzers from the medical & healthcare industry due to increase in rush of patients. Despite being impacted by the COVID-19 pandemic, the optical spectrum analyzer market is set to grow steadily throughout the forecast period.
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Who is Winning?
The global optical spectrum analyzer market is set to grow exponentially in the coming years. In order to sustain their positions, the key market players are focusing on developing more sophisticated products.
For instance, AMS Technologies has launched their new range of optical spectrum analyzers such as Ultra Optical Spectrum Analyzer (OSA) Spectrometer, UltraBright Spectrometer, HyperFine Spectrometer, and others in order to target the key end users such as telecommunication, medical, and others.
Thorlabs has launched their new Dual-Function Broadband Spectrometer and Wavelength Meter equipped with FC/PC Fiber Connector and Free-Space Optical Input. This type of optical spectrum analyzer is capable of working in two modes- spectrometer mode (7.5 GHz resolution) and wavelength meter mode (0.1 ppm resolution).
Global Optical Spectrum Analyzer Market by Category
By Product Type, the Global Optical Spectrum Analyzer Market is segmented as:
- Portable
- Benchtop
- Handheld
By Mode Type, the Global Optical Spectrum Analyzer Market is segmented as:
- Spectrometer Mode
- Wavelength Meter Mode
By End Use, the Global Optical Spectrum Analyzer Market is segmented as:
- IT & Telecommunication
- Medical & Healthcare
- Energy & Utilities
- Automotive
- Institutions
- Aerospace & Defence
- Semiconductors & Electronics
By Region, the Global Optical Spectrum Analyzer Market is segmented as:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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