The global distributed fiber optic sensor (DFOS) market is estimated to touch USD 1.87 billion, by 2025, and is projected to grow at the CAGR of 10.8% over the forecast period, 2019 to 2025, according to a new report by Million Insights. The increasing demand from oil & gas and civil engineering application is projected to spur market growth. Fiber optics are highly reliable in streams, pipes, and reactors wherein manual inspection is difficult. In addition, they are helpful in health monitoring, and security applications for preventing any intrusion.
Growing demand for sophisticated structure in industrial automation, for enhanced urban mobility is boosting the demand for fiber optical sensors. Governments across the globe are emphasizing on developing new projects and conserving their existing infrastructure. This has substantially increased investment in railway, dam, and road construction projects. Furthermore, rapid development in the civil engineering sector is anticipated to proliferate the demand for fiber optic sensor.
Manufacturers of DFOS sensors are increasingly investing in R&D activities for developing new products. Additionally, they are focusing on improving production efficiency using fiber optic technology. DFOS sensors require high installation and production costs, however, they offer greater reliability. Moreover, vigorous inspection process, and technological complexity may restrain the market growth.
Key manufacturers in the distributed fiber optic sensors market include Schlumberger Limited, Halliburton, Yokogawa Electric Corporation, Qinetiq Group PLC, OFS Fitel, LLC, Omnisens SA, AP Sensing GmbH, Luna Innovations Incorporated, and Brugg Kable AG. These players in the market are focusing on product innovations and invest high in the R & D activities.
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Further key findings from the report suggest:
• Depending on application, temperature sensing segment is projected account for largest market share by 2025.
• Manufacturers and suppliers of fiber optic products are seeking to attain higher bandwidth of 100 Gbps through research activities.
• In 2018, North America led the market with highest revenue share in the overall market.
• Increasing demand for optimized and efficient process in manufacturing sector and enterprises is boosting the demand for DFOS sensors.
Million Insights has segmented the global distributed fiber optic sensor market based on application, technology, vertical, and region:
Distributed Fiber Optic Sensor Application Outlook (Revenue, USD Million, 2014 - 2025)
• Temperature Sensing
• Acoustic/Vibration Sensing
Distributed Fiber Optic Sensor Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Rayleigh Effect
• Brillouin Scattering
• Raman Effect
• Bragg Grating
Distributed Fiber Optic Sensor Vertical Outlook (Revenue, USD Million, 2014 - 2025)
• Oil and Gas
• Power and Utility
• Safety and Security
• Civil Engineering
Distributed Fiber Optic Sensor Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa