The market has a promising growth potential due to growing adoption of distributed fiber optic sensors especially in infrastructure and safety and security verticals along with oil and gas vertical in the near future.
New York, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distributed Fiber Optic Sensor Market with Covid-19 Impact Analysis by Fiber Type, Scattering Process, Operating Principle, Application, Vertical and Region - Global Forecast to 2026" - https://www.reportlinker.com/p04718601/?utm_source=GNW
The major factor restraining the growth of the distributed fiber optic sensor market is technical issues in installation of distributed fiber optic sensors.Any kind of carelessness in the deployment or installation of the optical fiber can affect the readings recorded by the sensor, which, in turn, would restrain the growth rate of the market. Hence, the technical issues related to the installation of the distributed sensors act as a major restraining factor. This is expected to impact the distributed fiber optic sensor market negatively in the coming years.
The market declined in 2020, mainly due to the impact of COVID-19.The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which affected the distributed fiber optic sensor market.
Though the market has been impacted in 2020, it is expected to recover by 2021.
Distributed Temperature sensing: The largest segment of the distributed fiber optic sensor market, by application
Temperature sensor is the largest segment of the distributed fiber optic sensor market by application.Distributed sensors for temperature sensing are primarily used in oil and gas production in permanent downhole monitoring, coil tubing optical-enabled deployed intervention systems, and slick line optical cable-deployed intervention systems.
They are also used in the power cable and transmission line monitoring, and temperature monitoring in plant and process engineering, including transmission pipelines.Increasing demand for data-based decision-making coupled with the cost-effectiveness of distributed fiber optic sensors is driving the market.
A few advantages of distributed fiber optic sensors include low cost, long-distance coverage, and others. DTS is much more cost-effective and beneficial to acquire accurate and high-resolution temperature measurements using fiber optic cables..
OTDR:: The largest segment of the distributed fiber optic sensor market, by operating principle
The market for OTDR-based distributed fiber optic sensors is expected to hold a larger size during the forecast period.The majority of the companies engaged in the manufacturing of distributed fiber optic sensors produce the sensors based on OTDR operating principle.
OTDR is a robust technology and is capable of providing accurate measurements with a high resolution. This technology has been in use since the inception of distributed fiber optic sensors.
North America has the largest market share in the distributed fiber optic sensormarket
The North America region is expected to dominate the distributed fiber optic sensor market and is projected to have the largest market share during the forecast period.The companies in North America are boosting their production and widening their distribution networks, and the manufacturers are utilizing new technologies in their operations. Furthermore, major players in the distributed fiber optic sensor market Halliburton Company (U.S.) and Schlumberger Limited (U.S.), among others have their roots in North America, which creates an opportunistic environment in the said region. Furthermore, North America is investing significantly in oil and gas pipeline projects to cater the growing demand for oil and gas. The US is a leading country in North America, in terms of oil production and consumption. It has the largest network of oil and gas pipelinesThese factors are expected to propel the distributed fiber optic sensormarket in APAC
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 27%, Tier 2 – 35%, and Tier 3 – 38%
• By Designation: C-level Executives – 32%, Directors – 44%, and Others – 24%
• By Region: North America – 33%, Europe – 30%, APAC – 27%, and RoW – 10%
The report profiles key players in the global distributed fiber optic sensor market with their respective market share analysis. Prominent players profiled in this report are 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).The other key market players include AFL (US), Aragon Photonics (Spain), Fotech (UK), Hifi Engineering (Canada), Hawk Measurement (Australia), NKT Photonics (Denmark), Corning (US), Optromix (US), OZ Optics (Canada), Sensornet (UK), Sensuron (US), Silixa (UK), Solifos (Switzerland), VIAVI Solutions (US) and Ziebel (Norway).
The report segments the distributed fiber optic sensor market and forecasts its size, by value, based on region (North America, Europe, APAC,Middle East and ROW), by type (Single-Mode. Multimode), by operating principle (OTDR, OFDR), by application (Temperature sensing, Acoustic sensing, Strain Sensing) and vertical (oil and gas, power and utility, safety and security, infrastructure and industria).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the distributed fiber optic sensor market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the distributed fiber optic sensormarket and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04718601/?utm_source=GNW
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