The distributed fiber optic sensor market was valued at US$ 1,027.3 Mn in the year 2018 and expected to reach US$ 2,698.2 Mn by the year 2027, expanding at a CAGR of 11.4% during the forecast from 2019 to 2027.
"Increasing Demand for advanced sensors expected to spur the Distributed Fiber Optic Sensors demand over the Forecast Period"
Flourishing demand for advanced sensing capability in various industry verticals to monitor real-time events has open numerous opportunities for the market players in sensor technology to develop and innovate next-generation sensors. Distributed fiber optic sensor is a dynamic approach that uses laser light backscattering along with an optical fiber strand to measure the surrounding environmental properties. The optical fibers used in DFOS application is a thin silica glass strands that transmit data over long distance with minimal loss.
The global distributed fiber optic sensor market witness substantial growth during the forecast period owing to on-going advancements in the fiber optic sensing technology to upgrade the early risk detection technology and long-term monitoring. In addition, increasing investment in distributed sensing has also gained a significant pace after its alarming adoption rate in the civil and automotive industry.
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The global distributed fiber optic sensor market expected to be highly competitive in the coming years owing to increasing investment in new product launch, development, and regional expansion. The market players also believe in collaboration and partnership agreement to gain access to multiple patents on distributed fiber optic sensor domain to enhance their product and service portfolio.
On October 07, 2019, NEC Corp. and Verizon Wireless collaborated together to use the existing fiber optic cables laid in the Texas city as distributed fiber optic sensors to gather information on road conditions, traffic patterns, vehicle classification, and road capacity. The proof-of-concept field trial uses sensor technology along with artificial intelligence based software developed by NEC Corp. for intelligent traffic monitoring.• On January 05, 2016, Bandweaver launched new range of products for Horizon Distributed Acoustic Sensing (DAS). The new product specialized in Third Party Intrusion (TPI) detection for a range of products ranging from pipelines to power cables. The new product uses optical & electrical processing technology along with this it measures 100 Km from single unit.
Key Market Movements:
Globally, the distributed fiber optic sensor market projected to witness a CAGR of 11.4% during the forecast period from 2019 to 2027• Raman Scattering Effect dominated the global distributed fiber optic sensor market in the year 2018 owing to its accurate measuring capacity of physical parameters. In addition, it has wide adoption in construction and oil & gas applications.• By application segment, temperature anticipated to dominate the global distributed fiber optic sensor market in the year 2025. Increasing pipeline monitoring in the oil & gas industry and risk/fault evaluation in transmission & distribution sector attributed significantly to the segment growth.• The acoustic application seeks opportunistic growth over the forecast period owing to its increasing application in security• North America captured the highest revenue share in the year 2018 and projected to continue its dominance during the forecast period. The prime factor supporting the significant regional growth is a steep rise in the oil & gas industry over the past few years. However, the Asia Pacific accounted for the most lucrative region in the global distributed fiber optic sensor market.
List of Companies Covered:
Schlumberger Limited• Weatherford International Plc• Halliburton Company• Omnisens SA• Brugg Kabel AG• Yokogawa Electric Corporation• OFS Fitel LLC• Luna Innovations Incorporated• AFL• Ziebel AS• QinetiQ Group Plc• Bandweaver• AP Sensing GmbH
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