The Business Research Company's Distributed Fiber Optic Sensor market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, July 5, 2022 /PRNewswire/ -- The distributed fiber optic sensor market consists of sales of fiber optic sensors by entities (organizations, sole traders, and partnerships) that are used to strain, temperature, and acoustic perturbations along with the performance of optical fiber networks. The distributed fiber optic sensors are generally used in high voltage electricity regions and are designed to withstand high temperatures. These are deployed to the high electromagnetic zone where electronic sensors cannot operate.
The global distributed fiber optic sensor market size is expected to grow from $0.93 billion in 2021 to $1.04 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global distributed fiber optic sensors market size is expected to grow to $1.63 billion in 2026 at a CAGR of 11.8%.
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Oil & Gas Industry Drives Distributed Fiber Optic Sensor Market Growth
The increase in consumption of oil and gas is driving the growth of the distributed fiber optic sensor market. Oil and gas are products that are made by vaporizing and cracking petroleum distillates. The increased consumption of oil and gas can be fulfilled by exploration and drilling activities thereby leading to demand the fiber optic sensors for these activities. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the consumption of petroleum products increased by 4.5% to 213.69 million metric tons in 2020. Therefore, the increase in consumption of oil and gas is promoting the growth of the distributed fiber optic sensor market.
Distributed Fiber Optic Sensor Market Overview
TBRC's global distributed fiber optic sensor market report is segmented -
- By Type: Single-Mode, Multimode
- By Technology: Brillouin Scattering, Raman Scattering, Rayleigh Scattering
- By Application: Strain Sensing, Temperature Sensing, Acoustic/Vibration Sensing, Pressure Sensing, Others
- By End-User: Oil and Gas, Power and Utility, Safety and Security, Industrial, Civil Engineering
Key Players And Their Strategies In The Distributed Fiber Optic Sensor Industry
Major players in the distributed fiber optic sensor market are AFL, AP Sensing GmbH, Baker Hughes Inc., Bandweaver, Brugg Kable AG, Fotech Solutions Ltd., Future Fiber Technologies Ltd., Halliburton, LIOS Technology GmbH, Luna Innovations Incorporated, OFS, Omnisens, Qinetiq Group PLC, Schlumberger Limited, Tendeka Group, Weatherford International, and Yokogawa Electric Corporation.
In December 2019, Terna S.p.A., an Italy-based transmission operator company acquired a 90% stake in Brugg Kabel AG for $14.40 million. Through this acquisition, Terna will be able to acquire a center of excellence for research, development, and testing of one of the TSO's fundamental technologies, subterranean cables. Brugg Kabel AG is Switzerland-based a leading developer, and manufacturer of engineered fiber optic sensing cable systems.
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