According to a research report "Distributed Fiber Optic Sensor Market with Covid-19 Impact Analysis by Fiber Type (Single-Mode, Multimode), Scattering Process, Operating Principle (OTDR, OFDR), Application (Temperature, Acoustic, Strain), Vertical and Region - Global Forecast to 2026" published by MarketsandMarkets, the global distributed fiber optic sensor market size is expected to grow from USD 0.9 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.7%. Growing adoption of distributed fiber optic sensors in oil and gas and infrastructure and safety and security verticals will drive the demand for this market in the near future and is expected to play a vital role in the growth of the distributed fiber optic sensor market. Rapid digitization and automation to fulfill the rising need for productivity, efficiency and safety in various processes and growing adoption of distributed sensors in applications such as pipeline monitoring, structural health monitoring, border monitoring and control are driving the growth of distributed fiber optic sensor market.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113715879
Driver: Rising applications in oil and gas vertical
Oil and gas industry is undergoing a rapid digitization and automation to fulfill the rising need for productivity, efficiency, and safety in the operations. Distributed temperature sensors are being used in this industry since 1990. The distributed temperature sensing methods are majorly used for the well monitoring purpose in this industry. However, distributed acoustic sensing has been gaining popularity for the monitoring and surveillance of pipeline systems. Well and reservoir monitoring are the major areas of applications which hold the highest potential for increase in penetration of distributed fiber optic sensing in the oil and gas industry. Distributed pressure and strain sensing systems are also gaining popularity with the increasing penetration of distributed sensing methods in the oil and gas industry. Along with this, a hybrid of temperature, strain, and acoustic sensing in a single cable is likely to drive the market as the combination of sensors reduces the probability of failure. All these factors are driving the market for distributed fiber optic sensor market.
Restraint: Technical issues in installation of distributed fiber optic sensors
The technical issues related to the installation of distributed sensors act as a major hindrance to the growth of the distributed fiber optic sensor market. The optical fiber must be carefully handled to avoid its breakage while installing. Even though the design of the sensor cables has improved tremendously, improper cable deployment can fail to obtain accurate data. As the process of installation and operation of the fiber involves high-cost inputs, such failures can result in customers’ indifference to the technology in future projects. There is always a risk involved in the deployment of the cable, and, hence, any kind of carelessness in the deployment or installation of the optical fiber can affect the readings recorded by the sensor and lead to improper functioning, which, in turn, would restrain the growth rate of the market.
Infrastructure vertical is estimated to be the fastest-growing market during the forecast period
The distributed fiber optic sensor market for infrastructure vertical are expected to be the fastest-growing markets during the forecast period. The market for this vertical is expected to grow at the highest pace mainly because of the increasing necessity for structural health monitoring for railway lines, buildings, bridges, buildings, tunnels & pipelines, dams, roads, geotechnical engineering, and historical monuments, among others. Further, fiber optic cables can be engineered and mechanically coupled to structures, like dams and pipelines, where ground movement can be detected and threats in the locations can be pinpointed. This can be done with distributed sensors integrated with optic cables. Rising projects of infrastructure developments mainly in China and in the APAC region provide opportunities for the market
Asia Pacific is expected to grow at the highest rate
The market in APAC is expected to grow at the highest rate during 2021–2026. The global market players are experiencing increased demand for distributed fiber optic sensors from countries such as China, Japan, India and Indonesia. High investments in distributed fiber optic sensors by governments in countries such as China and India is also driving the growth of the said market in APAC. Furthermore, growing urbanization, rising disposable income, replacement needs, strict safety regulations, and technological innovations also help to drive the demand for distributed fiber optic sensors in APAC.
Major players in the distributed fiber optic sensor market include Schlumberger (US), Halliburton (US), Yokogawa Electric (Japan), Weatherford International (Switzerland), Luna Innovations (US), OFS (US.), Bandweaver (US), Omnisens (Switzerland), AP Sensing (Germany) and DarkPulse (US) among others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment