As per the report titled ‘Global Portable Optical Spectrum Analyzers Market Research Report 2020’, available with Market Study Report, global portable optical spectrum analyzers market share reached a valuation of USD 75 million in 2020 and is expected to accumulate USD 87 million by the end of 2024, expanding with a CAGR of 2.2% during the forecast period. 
 

Portable optical spectrum analyzer is a handheld device which measures and displays the power distribution of an optical source within a specific wavelength span. Wide use of these devices in testing optical communication network is driving the market growth. The expansion of 5G network spectrum will further enhance the market growth in the coming years.
 

Based on the type, the industry is split into high frequency measurement and low frequency measurement. High frequency measurement segment held 72% market share in 2018 and is slated to display strong growth trends during the estimated timeframe.
 

Speaking of the application spectrum, portable optical spectrum analyzers market is bifurcated into laboratory and industries. In terms of consumption, industries segment accounted for the highest market share in 2018 and is projected to record substantial growth during the forecast period.
 

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Considering the geographical outlook, global portable optical spectrum analyzers industry is divided into North America, Europe, Asia Pacific, and Latin America. Rising penetration of 5G network is the major growth driver of North America market. Whereas, rapid growth of the telecommunication sector in tandem with growing internet accessibility facilitated by availability of low-cost smartphones are supporting the industry expansion in Asia Pacific.
 

Key players in global portable optical spectrum analyzers market are VIAVI, Exfo, Finisar, Optoplex, Terahertz Technologies, and VeEX.