Fast Market Research announces the availability of the new Markets and Markets report, "Distributed Fiber Optic Sensor Market - Global Forecast to 2022 ", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 03/27/2017 -- Distributed Fiber Optic Sensor Market by Operating Principle (OTDR, OFDR), Fiber Type (Single-Mode, Multimode), Scattering Process (Raman Effect, Rayleigh Effect), Application (Temperature, Acoustic), Vertical, and Region - Global Forecast to 2022
"Distributed fiber optic sensor market estimated to grow at a CAGR of 15.09% between 2016 and 2022"
The overall distributed fiber optic sensor market was valued at USD 653.2 million in 2015 and is expected to reach USD 1,712.3 million by 2022, at a CAGR of 15.09% between 2016 and 2022. Increasing applications in the oil and gas vertical, increasing demand from the civil engineering vertical, and reliability of distributed fiber optic sensors while working in the challenging environments are the factors driving the growth of the distributed fiber optic sensor market. However, technical issues in the installation of distributed fiber optic sensor acts as a restraining factor for the market.
Get More Details on this Report and a Full Table of Contents at Distributed Fiber Optic Sensor Market - Global Forecast to 2022
"Temperature sensing application expected to hold the largest share of the distributed fiber optic sensor market during the forecast period"
Distributed temperature sensing was the first application of distributed fiber optic sensors in the market. Increasing demand for data-based decision-making, coupled with the cost-effectiveness of distributed fiber optic sensors, is driving the distributed fiber optic sensor market for temperature sensing application. Along with this, increasing demand in the applications related to structural health monitoring purpose would also play a major role in driving the market. Halliburton and Schlumberger are the two largest oil and gas service providers which are involved in the manufacturing of distributed fiber optic sensors for temperature sensing application.
"Distributed fiber optic sensor market for civil engineering vertical is expected to grow at the highest rate during the forecast period"
The market for civil engineering vertical is expected to grow at the highest rate primarily because of increasing necessity of structural health monitoring for geotechnical monitoring, pipeline monitoring, bridge monitoring, tunnel monitoring, and dam monitoring, among others. Distributed strain, acoustics, and temperature sensing are equally important for the applications based on structural health monitoring. Along with this, provision of a better understanding of structural conditions and the cost-effectiveness of infrastructure management are the primary reasons making their use suitable for structural health monitoring.
"APAC and North America are expected to be the fastest-growing and the largest markets, respectively, during the forecast period"
The market in APAC is expected to grow at the highest rate during the forecast period. The market in APAC is further subsegmented into India, China, South Korea, and Rest of APAC. The increased demand for distributed fiber optic sensor systems in oil and gas, and power and utility verticals and the strong presence of major players in APAC are the two crucial factors encouraging the market in this region. The market in North America is further segmented into U.S., Canada, and Mexico. The companies situated in North America are focusing on boosting their production and widening their distribution networks, and the manufacturers are deploying new technologies in their operations. Owing to these reasons, North America continues to dominate the distributed fiber optic sensor market based on region.
In the process of determining and verifying the market size for several segments and subsegments, gathered through secondary research, extensive primary interviews have been conducted with key industry experts. The breakup of the profile of primary participants has been given below:
-By Company Type: Tier 2 = 100%
-By Designation: C-Level Executives = 40%, D-level Executives = 40%, and Others = 20%
-By Geography: Europe = 80% and North America = 20%
The companies providing a range of customized solutions are expected to emerge as the game changers as the customers find it easier to sync up with such devices for use in a specific industry.
The key market players profiled in the report are:
-Schlumberger Limited (U.S.)
-Halliburton Company (U.S.)
-Yokogawa Electric Corporation (Japan)
-Weatherford International plc (Switzerland)
-QinetiQ Group plc (U.K.)
-Luna Innovations Incorporated (U.S.)
-OFS Fitel LLC (U.K.)
-OmniSens S.A. (Switzerland)
-Brugg Kabel AG (Switzerland)
-AP Sensing GmbH (Germany)
-Ziebel AS (Norway)
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