Newark, NJ, May 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by our research team, the global optical power monitor market is expected to grow from USD 270.00 million in 2021 to USD 410.68 million by 2030, at a CAGR of 4.77% during the forecast period 2022-2030.
The increased need for exact optical power monitors has emerged from the rising demand for increased capacity in the telecommunications industry. Improved connection, new technology, and the increasing requirement for real-time analysis are other factors propelling the global optical power monitor market forward. Optical power monitors are tools for measuring optical power levels. They are often used for long-term monitoring rather than short tests during regular operations. As a result, they're often incorporated into systems like laser devices and optical fiber communication networks. They're also routinely utilized to ensure that the monitored light beam remains functional. Lack of awareness and technical understanding, the challenge of maintaining the dynamic range, and the expensive cost may hinder the expansion of the optical power monitor.
Competitive Strategy
To enhance their market position in the global optical power monitor market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Market Growth & Trends
Growing safety concerns, environmental restrictions, device accuracy for accurate error detection and inspection, and increased automation applications are some factors that boost the optical power monitor market in the forecast period. The increasing use of automation in various sectors, such as manufacturing, power, and others, has raised a need to monitor power consumption that can be handled using power monitors, allowing the optical power monitor market to expand.
Key Findings
- In 2021, the fiber-optic power monitors segment dominated the market with the largest market share of 62.96%.
The type segment is classified into fiber-optic power monitors and free-space optical power monitors. In 2021, the fiber-optic power monitors segment dominated the market with the largest market share of 62.96%. A typical form of a fiber-optic power monitor is a tiny hermetically sealed in-line monitor with a fiber input and output. Single-mode fibers, such as Corning SMF-28e standard fibers, can be put on the device's opposite or the same sides. In such a device, a fiber coupler could be used to split a small portion of the power and direct it to a photodiode. As a result, the device can only cause a slight optical insertion loss (often less than 1 dB) and a considerable return loss (> 50 dB). In addition, PDL (polarization-dependent loss) is frequently negligible. Because the actual measurement is done using only a small percentage of the power collected using an integrated tap, these monitors are also known as integrated tap monitors. A display can be integrated inside the device or attached via a cable. These added features have contributed to the growth of the market in 2021.
- In 2021, the telecommunication segment accounted for the largest share of the market, with 38.95%.
The application segment comprises telecommunication, electrical and electronics, automotive and industrial, and military and aerospace. In 2021, the telecommunication segment accounted for the largest share of the market, with 38.95%. Telecommunication is sending data across a network utilizing various means, such as cable, radio, optical fiber, or other electromagnetic networks. The global optical power monitor market is expected to be driven by the IT & communications industry due to the digitization process of large and medium industrial verticals to provide connection and accessibility for a better customer experience and build markets for business prospects. The development of the television sector and fiber optics to transport information owing to its cost-effectiveness and enhanced efficiency are two other factors driving the global optical power monitor market.
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Regional Segment Analysis of the Optical Power Monitor Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia-Pacific region emerged as the largest market for the global optical power monitor market, with a market share of around 41.85% and 112.99 million of the market revenue in 2021. Due to reasons such as increased fiber-optic network coverage in various locations, increased focus of telecom firms on fiber-optic investments, and favorable government assistance for the deployment of fiber networks, China dominates the optical power monitor industry. These factors have propelled the growth of the market in the Asia-Pacific region.
Key players operating in the global optical power monitor market are:
- Santec Corporation
- Alcon Technologies Inc.
- OZ Optics
- PPI
- AMS Technologies AG
- Lightcomm Technology Co., Ltd.
- Gamma Scientific
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Market and Research has segmented the global optical power monitor market is based on the below-mentioned segments:
Global Optical Power Monitor Market by Type:
- Fiber-optic Power Monitors
- Free-space Optical Power Monitors
Global Optical Power Monitor Market by Application:
- Telecommunication
- Electrical and Electronics
- Automotive and Industrial
- Military and Aerospace
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About the report:
The global optical power monitor market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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