Published on : Mar 08, 2021
Albany, New York, March 08, 2021: Distributed fiber optic sensors are used to measure wide range of technical parameters including chemical composition, mechanical parameters such as temperature sensing and strain, liquid level monitoring, and many others.
These sensors are lightweight, highly sensitive, robust, and resistant to electromagnetic interference.
Hence, distributed fiber optic sensors market is witnessing demand from various sectors such as energy, automotive, civil, aerospace, and many others. Other types of sensing technologies such as Rayleigh’s effect-based and Raman Effect-based sensors have different operational capabilities.
The newly added report “Global Distributed Fibre Optic Sensing Market Research Report 2020” in RMoz repository provides insights about various factors contributing to growth of the market. It also presents information about several challenges and restraining factors that may limit the growth of the global ambulatory pressure monitoring patient monitors market in coming years.
The report consists of 120 pages, each page depicting different aspects of the market growth. In addition, the analysts have used graphs and statistics to present the information in pictorial form.
The market analysts have done in-depth research to provide details of the drivers and trends shaping the market. They have also visited several engineers and other key operators of the the global distributed fiber optic sensors market to get an idea of possible growth rate in coming years.
Some of the key factors influencing demand for distributed fiber optic sensors are growing applications in the oil and gas vertical, and increasing demand from civil engineering and transportation infrastructure verticals. However, mechanical concerns in the installation of the sensors may limit growth of the distributed fiber optic sensors market.
Distributed Fiber Optic Sensors Market Observes High Demand from Oil and Gas Industry
North America market is anticipated to hold maximum share, in terms of revenue in forthcoming years. Prominence of the region is attributed to the rising adoption rate of the fiber optic sensing technology in various sectors, including but not limited to oil and gas industry.
Shale gas exploration market in the U.S. is projected to flourish once prices of crude will increase. This would subsequently push demand for DOFS in the U.S. The country is counted among largest oil and gas producer in North America region. Owing to large oil and gas sector, the country is contributing to growth of the regional market.
Further, sprawling infrastructure and construction industries and growing safety and security sector are the key factors boosting Asia Pacific market. High penetration of transportation infrastructure in developing countries such as India and China, is contributing to growth of distributed fiber optic sensor technology in the region.
Growing demand for data-driven decisions in various industries such as power and utility, civil engineering, and many other are propelling demand for Asia Pacific distributed fiber optic sensor market.
The Europe market is anticipated to witness moderate growth rate and share. The growth rate is attributed to growing technological advancements in the field of fiber optic sensors.
Some of the key players operating in the global distributed optic fiber sensors market are AP Sensing GmbH, Qinetiq Group PLC, Yokogawa Electric Corporation, Luna Innovations Incorporated, Halliburton, OFS Fitel, Brugg Kable AG, Schlumberger Limited, and Omnisens SA.
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In order to diversify the service portfolio and access various technological patents, manufacturing companies of distributed optic fiber sensors components have undertaken various strategies. Some of them are mergers and acquisitions, strategic alliances, and collaborations and partnership.
In addition, companies are focusing on introducing new products to obtain a competitive edge. For example, in September 2018, Yokogawa Electric Corporation launched a fiber optic heat detector named DTSX1. It is a heat sensing tool and also an OpreX Field Instruments fire detection solution. Primarily, the sensor is an all-in-one fire detection and facility management solution.