Distributed Fibre Optic Sensor Market to exhibit a CAGR of 12.5% between 2016 and 2026
NEW YORK, May 23, 2017 /PRNewswire/ --
Highlights
· The global distributed fibre optic sensor market was worth US$ 1.1 Bn in 2015 and is expected to register a CAGR of 10.4% during the forecast period (2016-2026).
· Enhanced public awareness about distributed fibre optic sensors and an increase in demand from core sectors such as oil, gas, telecom, heavy industries, railways, and the military is expediting the growth of the global distributed fibre optic sensor market.
· The mining sector's struggle with old technologies and the need to implement advanced technologies is opening a window of opportunity for key players operating in the global distributed fibre optic sensor market.
· The Temperature Sensing application segment accounted for the highest market share in 2015 and was valued at US$ 518.2 Mn in 2015.
· This segment is anticipated to register a CAGR of 9.0%.
· The Acoustic/Vibration Sensing segment is expected to register high Y-o-Y growth rates throughout the forecast period.
· Oil & Gas segment to dominate the global distributed fibre optic sensor market.
· The Oil & Gas vertical segment accounted for the highest market share with a valuation of US$ 661.5 Mn in 2015 and is expected to remain dominant in terms of revenue throughout the forecast period.
The global distributed fibre optic sensor market was worth US$ 1.1 Bn in 2015 and is expected to register a CAGR of 10.4% during the forecast period (2016-2026).
Public awareness and industrial modernisation is driving the growth of the global distributed fibre optic sensor market
Enhanced public awareness about distributed fibre optic sensors and an increase in demand from core sectors such as oil, gas, telecom, heavy industries, railways, and the military is expediting the growth of the global distributed fibre optic sensor market. Apart from private players the government is also heavily procuring and using distributed fibre optics in different projects. To reduce the impending cost of a big project most of the private and government players are implanting distributed fibre optic sensors and this is likely to fuel the overall growth of the global distributed fibre optic sensor market and balance the market demand-supply ratio. The mining sector's struggle with old technologies and the need to implement advanced technologies is opening a window of opportunity for key players operating in the global distributed fibre optic sensor market.
However, 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.
Market segmentation
By Technology
By Application
By Vertical
By Region
Rayleigh Scattering Based Distributed Sensor
Brillouin Scattering Based Sensor
Raman Scattering Based Sensor
Interferometric Distributed Optical-Fibre Sensor
Distributed Fibre Bragg Grating Sensor
Strain Sensing
Temperature Sensing
Acoustic/Vibration Sensing
Pressure Sensing
Others (Moisture Detection)
Oil & Gas
Security
Energy & Utility
Transportation Infrastructure
Industrial Application
Others (Environment &
Geotechnics, Healthcare, etc.)
North America
Latin America
Middle East & Africa
Asia Pacific Excluding Japan
Western Europe
Eastern Europe
Japan
Temperature sensing segment likely to spearhead the application category with maximum market share
The Temperature Sensing application segment accounted for the highest market share in 2015 and was valued at US$ 518.2 Mn in 2015. This segment is anticipated to register a CAGR of 9.0%. The Acoustic/Vibration Sensing segment is expected to register high Y-o-Y growth rates throughout the forecast period.
Rayleigh scattering based distributed sensor segment predicted to register the highest CAGR during the forecast period
The Rayleigh Scattering Based Distributed Sensor technology segment was valued at US$ 215.2 Mn in 2015 and is anticipated to register the highest CAGR of 12.1% during the forecast period. In terms of revenue, the Brillouin Scattering Based Sensor segment is projected to be the most attractive segment in the global distributed fibre optic sensor market during the forecast period.
Oil & Gas segment to dominate the global distributed fibre optic sensor market
The Oil & Gas vertical segment accounted for the highest market share with a valuation of US$ 661.5 Mn in 2015 and is expected to remain dominant in terms of revenue throughout the forecast period. The Transportation Infrastructure segment is estimated to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to exhibit a CAGR of 12.5% between 2016 and 2026.
North America slated to be the largest market for distributed fibre optic sensors
North America was the largest market for distributed fibre optic sensors in 2015 and accounted for 31.1% market share of the global distributed fibre optic sensor market in 2015. This market is projected to be the most attractive market in terms of revenue during the forecast period. The APEJ distributed fibre optic sensor market is expected to register high Y-o-Y growth rates throughout the forecast period. APEJ is anticipated to witness a value CAGR of 12.3% between 2016 and 2026.
distributed fiber optic sensors market
Market leaders
are focussing on strategic partnerships to enhance their product portfolio
Read the full report: http://www.reportlinker.com/p04394420/Distributed-Fibre-Optic-Sensor-Market-Global-Industry-Analysis-and-Opportunity-Assessment.html
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