According to a new report Global Distributed Fiber Optic Sensor Market, published by KBV research, The Global Distributed Fiber Optic Sensor Market size is expected to reach $1.9 billion by 2027, rising at a market growth of 8.5% CAGR during the forecast period.
The vibration/acoustic segment is projected to record the highest growth rate during the forecast period. It is due to the growing adoption of vibration/acoustic sensors in the security application segment. This segment has acquired the second-highest share in revenue in 2020, hence displaying the significance of the technology & its application for numerous uses. Implementation of Distributed Temperature Sensing Systems (DTS) helps companies to involve efficient temperature measurement tasks in challenging situations.
The Raman Effect technology segment dominated the market with the largest revenue share in 2020. It is attributed to the usage of technology in critical situations like coolant leak detection, security of huge structures, and fire detection with the usage in improved data processing activities. In addition, the resistance of the technology to electromagnetic interference assist in consistent supervision and prevention from structural challenges in large infrastructures like rail track and bridges. Additionally, Brillouin scattering, Interferometric, Raman Effect, and Bragg Grating technologies are substantially fueling the growth of the market.
The oil & gas segment garnered the highest share in the global distributed fiber optic sensor market in 2020 and would showcase the similar trend during the forecast period. Distributed fiber optic sensor plays an important role in real-time & precise downhole calculation for maximized performance that leads to real-time data-driven decision-making. The usage of fiber optics for DTS & Distributed Acoustic Sensing (DAS) assists in resolving the daily oil & gas field challenges, which would further augment the growth of the segment. There are many other verticals like safety & security, industrial, power & utility, and civil engineering, which are also witnessing a major impact on their market growth.
The North America market dominated the Global Distributed Fiber Optic Sensor Market by Region 2020. The Asia Pacific is projected to showcase the fastest growth rate during the forecast period due to the rising requirement for the safety & security of procedures and increasing construction & infrastructure development tasks in the region.
Full Report: https://www.kbvresearch.com/distributed-fiber-optic-sensor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of of Fujikura Ltd., Furukawa Electric Co., Ltd., Bandweaver Technologies Ltd., Yokogawa Electric Corporation, Halliburton Company, Schlumberger N.V., Weatherford International PLC, Luna Innovations, Incorporated, Omnisens SA, and Terna SpA (BruggKabel AG).
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