Sealand: The demand for computer optical communication networks continues to grow, optimistic about the birth of international first-class equipment companies in the future.

Sealand released a research report stating that the demand for computer optical communication networks continues to grow, and high-speed optical interconnection in AI server super nodes has become a necessity. With the continuous progress of domestic and foreign optical module manufacturers in the mass production of high-speed optical modules such as 800G and 1.6T, optical communication testing equipment continues to iterate, and related equipment is expected to achieve a simultaneous increase in product quantity and price. The industry is optimistic about the emergence of world-class optical communication testing equipment companies in the future, and maintains a "recommended" rating for the computer industry. Sealand's main points are as follows: 1. The optical communication testing process is gradually moving from testing the entire module to testing the wafer Optical communication testing equipment mainly includes: 1) communication testing equipment; 2) optoelectronic device testing equipment; 3) electrical performance testing instruments. Typical optical module testing mainly targets TOSA and ROSA. Communication testing equipment includes: sampling oscilloscope: an instrument for testing eye diagrams at the transmitter end, with channel bandwidth as a core indicator; clock recovery unit: extracts the corresponding clock signal from the data signal; (burst) bit error analyzer: used for signal analysis of the transmission link of optical modules; rapid wavelength counter: an instrument used for signal analysis of the transmission link of optical modules. Optoelectronic device testing equipment mainly includes: CoC optical chip aging testing system: moves the chip testing process to the chip; optical chip KGD bare die testing: moves the testing process to the bare die; silicon wafer testing system: moves the testing process to the wafer. 2. The global optical communication testing equipment market is expected to reach $20.2 billion by 2029, with overseas leaders still dominating the market for optical communication testing equipment in China Optical communication testing equipment is located upstream in the industry chain, with data centers downstream being the main application scenario for optical modules, whose rates and technologies continue to iterate. The global optical module market remains buoyant, and the importance of testing equipment is increasingly prominent. According to Frost & Sullivan, globally, driven by the growing demand for data traffic resulting from the gradual application of AI emerging technologies, the market size of optical modules used for data communication continues to expand, driving the growth of the global optical communication testing equipment market. The market size is expected to reach $9.5 billion in 2024 and $20.2 billion by 2029. However, overseas leaders still dominate the market for optical communication testing equipment in China. According to Frost & Sullivan data, the localization rate of optical communication testing equipment in China in 2024 is relatively low, with domestic companies accounting for only about 16% of the market share, with UniTest Instruments holding 9.9% as the only local company in the top five, and overseas companies represented by Keysight and Anritsu accounting for about 84% of the market share, indicating a high industry concentration. 3. Chinese testing instrument companies' product matrices are gradually improving, and new industry leaders may emerge The testing instrument sector may produce new industry leaders, and Chinese companies have strong growth potential in the future. (1) UniTest Instruments: a manufacturer of core testing equipment for 400G, 800G, and 1.6T high-speed optical modules that are globally in short supply, has launched a 65GHz sampling oscilloscope, 120GBaud clock recovery unit, and 1.6Tbps bit error analyzer to meet the testing needs of 1.6T optical modules. The company also provides CoC optical chip aging testing systems, optical chip KGD sorting testing systems, silicon wafers testing systems, and other optoelectronic testing equipment. (2) Chroma ATE: a leading provider of electronic measurement instruments and systems globally, providing complete testing and measurement solutions for applications in ICs and semiconductors, photonics, batteries and energy storage, electric vehicles, flat panel displays, video and color, power electronics, passive components, electrical safety standards, and automated optical inspection.