With developing new technologies in emerging economies, rapid urbanization and increasing housing and security investments, the market is estimated to project a promising CAGR of 9.2% over the period of forecast i.e. 2016-2023.
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Distributed fiber optics sensors offer the monitoring of wide range of variables such as temperature, strain, acoustic perturbations, and others. The fiber optic sensor is initially designed to analyze the status and performance of optical fiber networks which are used for the transmission of voice and data signals.
These sensors are generally used in the region of high voltage electricity as they are poor conductor of electricity and resistant to electromagnetic interference. Apart from this, distributed fibre optic sensors are also designed to withstand high temperature as well.
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Due to these unique features they can be deployed to the high electromagnetic interference zone where electronic sensors cannot operate such as jet fuel, oil and gas tank and others. Fiber optics sensors provide an extra edge over conventional electronic sensors with low cost, high bandwidth, light weight and electromagnetic interference (EMI) and radio frequency interference immunity (RFI).
Market Size & Forecast
In terms of revenue, North-America region dominated the distributed fiber optic sensors market followed by Asia-Pacific in the year 2015. The expansion of market in this region is attributed to the high adoption rate of fiber optic sensors in the manufacturing industry and the availability of huge reserves resulting in increased drilling activities.
By end-use industry, oil and gas accounted for 30% share to the global distributed fiber optics sensor market in 2015, however increasing demand for distributed fibre optics from oil and gas industry will further expand the market growth over the forecast period i.e. 2016-2023.
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Fiber optics sensors have a wide range of application in energy, defence, industries, transportation, and security systems. Oil and Gas market is fuelling the demand for distributed fiber optics sensors by opening an entire new business for fiber optics sensors market.
The fiber optic sensors capability of higher tolerance for harsh conditions such as high temperature is expected to be the key factor for its wide application in the upcoming 5-6 years.
Global distributed fiber optic sensor market by product is segmented into following categories:-
- Intrinsic Fiber Optic Sensors
- Extrinsic Fiber Optic Sensors
Based on technology, the global distributed fiber optic sensors market is segmented into:
- Brillouin Scattering
- Raman Scattering
- Rayleigh Scattering
- Fiber Bragg Gratings (FBG)
By End Use Industry
Due to high tolerance and resistance to electricity and temperature, fiber optic sensors have wide range of application in following end-use-industry:-
- Oil and Gas
- Wind Energy Turbines
- Security Systems
Growth Drivers and Challenges
Increasing investment in the infrastructure, growth in the manufacturing industry and increasing use of fiber optic sensors in smart wells are some of the key factors driving the growth of the global distributed fiber optic sensors market.
The increase in consumption of oil and gas with declining production of conventional oil reserves have influenced vendors and governments to indulge in exploration and drilling activities, therefore, leading to greater demand for fiber optic sensors in this industry.
It has been observed that distributed fiber optics sensors are replacing the electronic sensors due to the edge of higher tolerance where an electronic sensor fails; this will further expand the market growth of distributed fiber optic sensors across the globe.
Apart from this, price instability in oil industry and strict environmental regulations are some of the factors restraining the growth of the global distributed fiber optic sensors market.
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This report also provides the existing competitive scenario of some of the key players of the global distributed fiber optic sensor market which includes company profiling of QinetiQ Group plc, Northrop Grumman Corporation, CGG, Future Fiber Technologies Ltd., Magal S3, Fotech Solutions Ltd., LIOS Technology GmbH, Weatherford International and Tendeka Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global distributed fiber optic sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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