PUNE, India, December 16, 2016 /PRNewswire/ --
According to the new market research report "Distributed Temperature Sensing (DTS) Market by Operating Principle (OTDR, OFDR), Fiber Type (Single-Mode, Multi-Mode), Application (Oil & Gas, Power Cable Monitoring, Fire Detection, Process & Pipeline Monitoring) and Geography - Global Forecasts to 2022", published by MarketsandMarkets, was valued at USD 484.7 Million in 2015 and is expected to reach USD 811.5 Million by 2022, at a CAGR of 7.66% between 2016 and 2022.
Browse 81 market data Tables and 63 Figures spread through 159 Pages and in-depth TOC on "Distributed Temperature Sensing (DTS) Market"
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The major factors driving the growth of this market include the increasing demand for DTS systems for monitoring purposes in hostile working conditions wherein humans cannot reach, high reliability of DTS systems as they can be deployed over long distances, and increasing need for improved safety systems.
"Market for optical time domain Reflectometry (OTDR) operating principle-based DTS systems expected to grow at the highest rate during the forecast period"
OTDR is the most widely used technology and has been in use since the inception of DTS systems. OTDR-based DTS systems help in providing a robust measurement and are less susceptible to issues such as reflections and bends in the fiber and accessories. The technology utilizes the time of flight principle to measure the backscattered light during the Rayleigh scattering and Fresnel reflecting in the optical transmission generated by a narrow laser pulse. The market for OTDR-based DTS systems is expected to grow at the highest rate during the forecast period.
"Oil & gas applications to hold the highest size of the DTS market between 2016 and 2022"
The DTS technology has become an integral part of the oil & gas industry. It helps in continuous, real-time downhole monitoring to optimize the operational and economic performances of the assets. This enables the reservoir engineers to gain a better understanding of the injection and production dynamics and accordingly optimize the production and improve recovery leading to improved profits. Hence, there is an increasing focus on adopting the technology for improving the productivity of brownfield operations. The analysis of the data collected by the DTS system can provide additional information on the behavior of the wells such as the flow volume within a particular section of the wells.
"DTS market in APAC expected to grow at the highest rate during the forecast period"
APAC is expected to be the fastest-growing market for DTS systems. The Distributed Temperature Sensing Market in this region has been segmented into India, China, South Korea, and Rest of APAC. APAC is a major market for DTS systems for various applications such as oil & gas and power cable monitoring. The increased demand for DTS systems in the oil & gas and power transmission sectors and the presence of major players in this region are the two crucial factors driving the market growth in APAC. The Greenfield projects in the oil & gas industry are also expected to drive the adoption of the DTS technology in this region.
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The major companies that develop DTS systems include Halliburton Company (U.S.), Sensornet Ltd. (U.K.), Furukawa Electric Co., Ltd (Japan), Schlumberger N.V. (U.S.), Omnisens SA (Switzerland), Yokogawa Electric Corp. (Japan), Weatherford International PLC (Switzerland), Sumitomo Electric Industries Ltd. (Japan), Omicron Electronics GmbH (Austria), Tendeka B.V. (U.K.), AP Sensing GmbH (Germany), GESO (Germany), LIOS Technology GmbH (Germany), and Bandweaver Technologies (China), among others.
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