NEW YORK, Jan. 3, 2017 /PRNewswire/ -- "The DTS market estimated to grow at a CAGR of 7.66% between 2016 and 2022" The overall distributed temperature sensing (DTS) market 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. Factors such as the rising 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 are expected to propel the growth of the DTS market. However, the lack of utilization of the data gathered by the DTS systems is restricting the market growth.
"DTS market for fire detection applications expected to grow at the highest rate during the forecast period"
The DTS market for fire detection applications is expected to grow at the highest rate during the forecast period. With the increasing industrialization & construction activities and the rising safety norms, mainly in technologically advancing countries such as China, India, and Brazil, the implementation of DTS systems for fire detection applications is also growing as these systems provide temperature details along the length of the cable. The DTS systems also help in enhancing the safety of equipment and surroundings.
"DTS market in Asia-Pacific (APAC) likely to grow at the highest rate during the forecast period"
APAC is expected to be the fastest-growing market for DTS systems. The 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.
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 people. The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1—37%, Tier 2—34%, and Tier 3—29%
- By Designation: C-Level Executives—53% and Directors—47%
- By Geography: Europe—40%, Americas—25%, APAC—20%, and RoW—15%
Companies that provide a range of customized solutions are expected to emerge as the game changers since 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:
- 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)
- Bandweaver Technologies (China)
- In terms of market by operating principle, segments such as optical time domain reflectometry (OTDR) and optical frequency domain reflectometry (OFDR) have been covered.
- In terms of market by fiber type, segments such as single-mode fibers and multi-mode fibers have been covered.
- Major applications for DTS systems include oil & gas (upstream and downstream), power cable monitoring, fire detection, process & pipeline monitoring, and environmental monitoring applications.
- The geographic analysis has been done with regards to major four regions— the Americas (North America and South America), Europe, Asia-Pacific (APAC), and Rest of the World (RoW) (the Middle East and Africa)
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles that discuss the basic views on the competitive landscape, emerging and high-growth segments of the DTS market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and industry-specific opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on DTS systems offered by the top players in the overall DTS market
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and new product launches in the DTS market
- Market development: Comprehensive information about lucrative emerging markets—the report analyses the markets for DTS systems across regions
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall DTS market
- Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the DTS market
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