Robust adoption in oil and gas vertical segment is driving the demand for distributed fibre optic sensors globally.
VALLEY COTTAGE, NEW YORK, UNITED STATES, November 16, 2016 /EINPresswire.com/ — Future Market Insights delivers key insights on the global distributed fibre optic sensor market in a new report titled “Distributed Fibre Optic Sensor Market: Global Industry Analysis & Opportunity Assessment 2016-2026”. The global distributed fibre optic sensor market was valued at US$ 1.1 Bn in 2015 and is expected to register a CAGR of 10.4% from 2016 to 2026.
According to Future Market Insights, increasing adoption in the oil and gas industry and increasing investment in infrastructure are major factors driving the growth of the global distributed fibre optic sensor market. Additionally, government initiatives to deploy fibre optic sensors in various construction projects is propelling the growth of the global distributed fibre optic sensor market. The unique qualities and attributes of distributed fibre optic sensors are also driving worldwide demand and hence fuelling the growth of the global distributed fibre optic sensor market. Public awareness and industrial modernisation is further driving the growth of the global distributed fibre optic sensor market.
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“The high cost factor associated with distributed fibre optic sensors and slow economic development of some of the major markets spread across APEJ and MEA might hinder the future growth of the global distributed fibre optic sensor market.” — Analyst, Future Market Insights
The global distributed fibre optic sensor market is segmented on the basis of Technology (Rayleigh Scattering Based Distributed Sensor, Brillouin Scattering Based Sensor, Raman Scattering Based Sensor, Interferometric Distributed Optical-Fibre Sensor, Distributed Fibre Bragg Grating Sensor); Application (Strain Sensing, Temperature Sensing, Acoustic/Vibration Sensing, Pressure Sensing, Others (Moisture Detection)); and Vertical (Oil & Gas, Security, Energy & Utility, Transportation Infrastructure, Industrial Application, Others (Environment & Geotechnics, Healthcare, etc.)).
The Raman Scattering Based Sensor technology segment accounted for 33.3% market share of the global distributed fibre optic sensor market in 2015. The Rayleigh Scattering Based Distributed Sensor segment is anticipated to register a CAGR of 12.1% during the forecast period
The Temperature Sensing application segment accounted for the highest market share in 2015 and was valued at US$ 518.2 Mn in 2015. The Acoustic/Vibration Sensing segment is expected to register a healthy CAGR of 12.2% during the forecast period
The Oil & Gas vertical segment accounted for the highest market share in 2015, occupying 60.9% share of the global distributed fibre optic sensor market in 2015
Regional market projections
The global distributed fibre optic sensor market is segmented into the seven key regions of North America, Latin America, Middle East & Africa, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, and Japan. The North America market is estimated to account for the largest market share of 30.9% of the global distributed fibre optic sensor market in 2016 and is anticipated to continue its dominance throughout the forecast period. The distributed fibre optic sensor market in North America was valued at US$ 342.1 Mn in 2015 and is expected to remain dominant in terms of revenue throughout the forecast period. The APEJ market is projected to register high Y-o-Y growth rates throughout the forecast period.
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The global distributed fibre optic sensor market report profiles some of the key market players operating in the global distributed fibre optic sensor market. FISO Technologies Inc., Brugg Kabel AG, OSENSA Innovations Corp., Sensor Highway Ltd., Omnisens S.A., AFL Global, Lockheed Martin Corporation, and QinetiQ Group plc. are some of the top companies profiled in the global distributed fibre optic sensor market report. These companies are adopting innovative approaches to product development and are focussing on continuous operational expansion across the globe through partnerships and acquisitions.
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Source: EIN Presswire