SAN FRANCISCO, June 1, 2021 /PRNewswire/ — The global distributed fiber optic sensor market size is expected to reach USD 2.27 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 8.4% from 2021 to 2028. Factors, such as significant demand from the civil engineering vertical and rising adoption in the oil & gas sector, boost product adoption. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, its high durability and ability to withstand a challenging environment are also projected to propel market growth.
Key suggestions from the report:
- The market is estimated to grow at a significant CAGR from 2021 to 2028 due to the high product demand as a result of the rising need for efficient and optimized processes, across enterprises and manufacturing sectors
- The temperature sensing application segment dominated the market in 2020. Temperature sensors find solicitations in the oil & gas and civil engineering segments
- Suppliers and manufacturers of fiber optic equipment are looking forward to achieving higher bandwidth, 100 GBPS, by undertaking intense research activities
- North America dominated the global market and accounted for the largest revenue share in 2020
- However, Asia Pacific is estimated to be the fastest-growing regional market during the forecast period.
Read 154 page research report with ToC on “Distributed Fiber Optic Sensor Market Size Share & Trends Analysis Report By Vertical (Oil & Gas, Industrial), By Technology (Raman Effect, Rayleigh Effect), By Application, By Region, And Segment Forecasts, 2021 – 2028” at: https://www.grandviewresearch.com/industry-analysis/distributed-fiber-optic-sensor-sensing-dfos-market
Increasing demand for sophisticated infrastructure and rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Various governments are focusing on conserving their prevailing infrastructure and developing new ones. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on projects, such as roads, railways, and dams. This rapid growth in the advanced civil engineering vertical is expected to boost market development.
The wide usage of DFOS has promoted manufacturers and suppliers to increase R&D expenditure to offer better products to their customers. Service providers are trying to regulate efficiencies and optimize their production process to capture maximum market share and eliminate all other substitutes of the fiber optics technology. The high production & installation price of DFOS products is forcing manufacturers to develop cheaper and reliable optic inspection products. Technological complexities, along with other challenges raise the price of fiber optics deployment, which further hampers the market growth.
Grand View Research has segmented the global distributed fiber optic sensor market on the basis of application, technology, vertical, and region:
- DFOS Application Outlook (Revenue, USD Million, 2017 – 2028)
- Temperature Sensing
- Acoustic/Vibration Sensing
- DFOS Technology Outlook (Revenue, USD Million, 2017 – 2028)
- Rayleigh Effect
- Brillouin Scattering
- Raman Effect
- Bragg Grating
- DFOS Vertical Outlook (Revenue, USD Million, 2017 – 2028)
- Oil & Gas
- Power & Utility
- Safety & Security
- Civil Engineering
- DFOS Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- South America
- Middle East & Africa
- List of Key Players of Distributed Fiber Optic Sensor Market
- Schlumberger Ltd.
- Yokogawa Electric Corp.
- OFS Fitel, LLC
- Qinetiq Group PLC
- Omnisens SA
- Brugg Kable AG
- Luna Innovations, Inc.
- AP Sensing GmbH.
Find more research reports on Sensors & Controls Industry, by Grand View Research:
- Hybrid Fiber Optic Connectors Market – The global hybrid fiber optic connectors market in terms of size was valued at, USD 550.0 million in 2016 & is projected to reach USD 1,067.8 million by 2025, growing at a CAGR of 7.7% from 2017 to 2025.
- Fiber Optic Preform Market – The global fiber optic preform market size was valued at USD 2.5 Billion in 2018 & registering a CAGR of 19.6% from 2019 to 2025. Attributed to the Growing popularity of high-bandwidth internet connections, healthcare industry, & investments in telecommunication infrastructure.
- Fiber Optic Connector Market – The global fiber optic connector market size was estimated at USD 3.22 billion in 2016 and is expected to gain traction over the forecast period. The global marketplace is majorly driven by the growing adoption of fiber optic technology.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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