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Distributed Fiber Optic Sensor Global Market Report 2023
Major players in the distributed fiber optic sensor market are AFL, AP Sensing GmbH, Baker Hughes Inc., Bandweaver, Brugg Kable AG, Fotech Solutions Ltd., Future Fiber Technologies Ltd., Halliburton, LIOS Technology GmbH, Luna Innovations Incorporated, OFS, Omnisens, Qinetiq Group PLC, Schlumberger Limited, Tendeka Group, Weatherford International, and Yokogawa Electric Corporation.
New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distributed Fiber Optic Sensor Global Market Report 2023" - https://www.reportlinker.com/p06310149/?utm_source=GNW
The global distributed fiber optic sensor market grew from $1.04 billion in 2022 to $1.16 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The distributed fiber optic sensor market is expected to grow to $1.77 billion in 2027 at a CAGR of 11.1%.
The distributed fiber optic sensors market consists of revenues earned by entities by providing distributed fiber optic sensors solutions to provide intelligently monitoring of a wide range of variables such as temperature, strain, and acoustic perturbations which enables continuous, real-time measurements along the entire length of a fibre optic cable.The market value includes the value of related goods sold by the service provider or included within the service offering.
The distributed fiber optic sensors market also includes sales of rayleigh, brillouin, and raman scattering-based distributed fiber optic sensors .Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The distributed fiber optic sensors are generally used in high voltage electricity regions and are designed to withstand high temperatures. These are deployed to the high electromagnetic zone where electronic sensors cannot operate to strain, temperature, and acoustic perturbations along with the performance of optical fiber networks.
North America was the largest region in the distributed fiber optic sensor market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the distributed fiber optic sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of distributed fiber optic sensors are single-mode and multimode.Single-mode and multimode have to core of 9 micrometers and 50-micrometer diameters respectively.
The technology segments consist of Brillouin scattering, Raman scattering, and Rayleigh scattering.These technologies are used to detect the strain, temperature, and other effects.
The market is segmented by the application that includes strain sensing, temperature sensing, acoustic/vibration sensing, pressure sensing, and others that are used by end-user such as oil and gas, power and utility, safety and security, industrial and civil engineering.
The increase in consumption of oil and gas is driving the growth of the distributed fiber optic sensor market.Oil and gas are products that are made by vaporizing and cracking petroleum distillates.
The increased consumption of oil and gas can be fulfilled by exploration and drilling activities thereby leading to demand the fiber optic sensors for these activities. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the consumption of petroleum products increased by 4.5% to 213.69 million metric tons in 2020. Therefore, the increase in consumption of oil and gas is promoting the growth of the distributed fiber optic sensor market.
Technological advancements are shaping the distributed fiber optic sensor market.Major players in the market are focusing on developing new technologies to lead the market.
For instance, in May 2021, AP Sensing, a Germany-based distributed optical sensing technology company introduced its 5th-Generation Distributed Acoustic Sensing (DAS) system using acoustic sensing technology. It utilizes fiber optic cable along with acoustic vibrations to detect and locate events in real-time such as high voltage power cable faults, pipeline leaks, Third-Party Interference (TPI) activities, or other abnormal events over long distances up to 100 km.
In November 2021, Resonetics, a US-based designer and manufacturer of high-precision fiber optic temperature probes, pressure sensors, and signal conditioners, acquired FISO Technologies Inc. from Nova Metrix LLC for an undisclosed amount. With this acquisition, Resonetics will add FISO’s revolutionary fibre optic capabilities to give customers better access to another novel technology that has already proven effective in several clinical applications. FISO Technologies Inc. is a Quebec-based developer and manufacturer of fiber optic sensors and signal conditioners.
The countries covered in the distributed fiber optic sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The distributed fiber optic sensor market research report is one of a series of new reports that provides distributed fiber optic sensor market statistics, including distributed fiber optic sensor industry global market size, regional shares, competitors with a distributed fiber optic sensor market share, detailed distributed fiber optic sensor market segments, market trends and opportunities, and any further data you may need to thrive in the distributed fiber optic sensor industry. This distributed fiber optic sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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