Optical Spectrum Analyzer Market To Generate $588.8 Million Revenue by 2030

The optical spectrum analyzer market size is projected to advance at a CAGR of 6.8% during 2021–2030, to reach $588.8 million by 2030. This can be attributed to the advancement in 5G technology and developments in healthcare and telecom facilities. Moreover, OSAs are the key components allowing the installation and R&D operations in various communication applications.

The production process of telecom devices like mobiles and connected devices has extended the application areas of OSAs into the field service, specifically for installation and inspection purposes. Thus, telecom and industrial end users have generated higher demand for optical spectrum analyzers.

In addition, the developments of cloud communication and 5G services are projected to significantly increase the volume of data traffic and data generation. Thus, the quicker inspection time and increased module manufacturing are necessary to provide in-time delivery needed for the quick adoption of fast optical modules.

Furthermore, the optical spectrum analyzer market trend is the growing IT and telecommunications industry across the world. Also, Industry 4.0 has sparked an unprecedented wave of innovation in all regions.

APAC Market Holds Significant Share

Geographically, APAC holds a significant market share and is predicted to continue exhibiting a similar trend over the forecast period as well. This is due to the growing focus on research activities and technological advancements to increase the applications of optical spectrum analyzers.

Furthermore, in the region, major electronics producers like China and Japan account for major shares of the world's electronic industry. This offers a favorable effect on the optical spectrum analyzer market outlook, as OSAs are widely used in electrical and electronic products.

MEA Market To Witness Significant Growth

The MEA market is projected to witness significant growth during the forecast period, advancing at a CAGR of more than 7%. This is because the development of 5G technology leads to change the society in the region. The progression of the IoT technology powered by 5G networks can help in the enhancement of life. Already, the 5G technology has been widely adopted in the Gulf countries. This shows the Gulf's new role as a leader in 5G development and digital technology.

For telecom services in the MEA region, the 5G technology needs more spectrum. Governments maximize their revenue by creating more and more spectrum accessible and assigning it by any other means than auctions, and also lowering the mobile broadband service costs. Thus, this factor drives the market growth in the region.

The current optical spectrum analyzer market players include ID Photonics GmbH, VeEX Inc., Timbercon Inc., APEX Technologies, Luna Innovations Incorporated, Aragon Photonics Labs. S.L.U., Optoplex Corporation, Yokogawa Electric Corporation, EXFO Inc., and Viavi Solutions Inc.