Visiongain has published a new report on Global Distributed Fiber Optic Sensing (DFOS) Market Report Forecast 2021-2031. Forecasts By Operating Principle (OTDR, OFDR), Application (DTS, DAS), Fiber Type (Single Mode, Multi-Mode), Scattering (Rayleigh Scattering Effect, Raman Scattering Effect, Brillouin Scattering), Industry (Oil & Gas, Power & Utility, Safety & Security, Civil Engineering, Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), PLUS COVID-19 Recovery Scenarios
The global distributed fiber optic sensing market is estimated to be valued at US$1,033.60 million in 2020. The market is expected to reach US$1,867.63 million in 2026 from its previous value of US$1,135.93 million in 2021. Visiongain further anticipates that the sector will reach US$3,240.18 million in 2031 while growing at a CAGR of 11.05% from 2021 to 2031.
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High Potential in the Offshore Industry offers lucrative growth opportunities in the Distributed Fiber Optic Sensing (DFOS) Market:
The market for offshore oil and gas industry is expected to be driven by the increase in offshore drilling activities. This combined with high investment done to explore new reserves for oil and gas would drive the offshore oil and gas industry. However, environmental concern has been a biggest challenge for the expansion of the offshore industry. Distributed sensors act as a major resource that detects any kind of leaks and drives the market for the offshore industry. Distributed temperature sensing for offshore activities is majorly used for down hole monitoring. Distributed sensing is a major part of surveillance strategy where the data is collected through various monitoring devices. The collected data improves the understanding of the complex structure network in the reservoir. The collected data has many uses and can be used as a tool to control flow alleviation and production optimization, in the detection of sand in a down hole and assess the operation status of gas lift valves, among others. This makes assessment of production possible and improves modes, or outs down the losses in the oil and gas production. Owing to this reason, the offshore industry is expected to offer a major opportunity for the growth in this market.
A Growing Demand from the Civil Engineering Vertical to boost DFOS Market Growth:
The use of distributed fiber optic sensors in civil engineering vertical has been continuously increasing primarily for the purpose of structural health monitoring. The primary objective behind the increasing penetration of distributed sensors in the civil engineering vertical is to have a better understanding of the structural condition and economically efficient management of infrastructure. Geo technical structures, pipeline, bridges, and dams are the major areas where the penetration of structural health monitoring in the civil engineering industry is increasing. The major advantage of the next-generation sensors is the ability to measure strain, temperature, or pressure over numerous locations simultaneously. Along with it, the ability to deploy distributed sensors in any kind of challenging environment and real time tracking of structural malfunctions are the key reasons behind the increased use of distributed sensing in the civil engineering industry.
High Cost of DFOS System to Challenge Distributed Fiber Optic Sensing (DFOS) Market Growth
Distributed sensor systems enable companies to monitor the difficult work environments and gain a real-time data with high accuracy. The market is growing because of its various advantages such as accuracy and reliability of distributed fiber optic sensor system. However, the cost of the technology is still relatively high depending upon the applications, the type of cable used, and operating conditions the cost of a distributed fiber optic sensor system can be very high which is still not affordable by every company regaining real-time monitoring and sensing. Additionally, the installation and the maintenance of these systems are also expensive which makes its implementation difficult. Thus, the high cost of DFOS systems is anticipated to mount a challenge for the growth of the distributed fiber optic sensing market over the forecast period from 2021 to 2031.
How the Distributed Fiber Optic Sensing (DFOS) Market report helps you
In summary, our 398 pages report provides you with the following knowledge:
Revenue forecasts to 2031 for Distributed Fiber Optic Sensing (DFOS) Market, with forecasts for operating principle, fiber type, scattering, and industry each foretasted at a global and regional level- discover the industry's prospects, finding the most lucrative places for investments and revenues
Revenue forecasts to 2031 for 5 regional and 22 key national markets - See forecasts for the Distributed Fiber Optic Sensing (DFOS) market in North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Also forecasted is the market in the US, Canada, Brazil, Mexico, Argentina, Germany, France, UK, Italy, Spain, Russia, China, India, Japan, Australia, South East Asia, Saudi Arabia, South Africa, Israel, and Oman among other prominent economies.
Prospects for established firms and those seeking to enter the market- including company profiles for 23 of the major companies involved in the DFOS Market.
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Analysis of Key Players Profiled in this Report.
Baker Hughes, Inc.
Fotech Solutions Ltd.
Future Fiber Technologies (AVA Group)
Luna Innovations Incorporated
Magal Security Systems
NBGHawk Measurement Systems
Network Integrity Systems
QinetiQ Group plc
Frauscher Sensonic GmbH
Southwest Microwave Inc.
Yokogawa Electric Corporation
The report also includes profiles of the leading companies in the Distributed Fiber Optic Sensing (DFOS) Market, with a focus on this segment of these companies' operations, financials, product portfolio, and recent developments.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence.
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