Global Distributed Fiber Optic Sensor Market to Grow at a CAGR of 15% by 2023: Driven by the Escalation in Global Demand of Oil & Gas

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Aug 02, 2017, 13:15 ET

DUBLIN, August 2, 2017 /PRNewswire/ --

The "Global Distributed Fiber Optic Sensor Market Size, Share, Development, Growth and Demand Forecast to 2023" report has been added to Research and Markets' offering.

The global distributed fiber optic sensor market is expected to witness a CAGR of 15% during the forecast period, to reach $1,970.1 million by 2023.

The key factors propelling the growth of global distributed optic fiber sensor market include the escalation in global demand of oil and gas, power and utility and safety and security. Distributed fiber optic sensors have ability to operate and optimize resources of oil and gas industry more effectively. Several factors including more focus on improving oil recovery, continued stability of capital investment on thermal enhanced oil improvement techniques, and rise of expensive multi-lateral hydraulic fracturing are the major factors supporting the growth of global distributed optic fiber sensor market. In traditional tank monitoring systems, sensing element is being considered as a physical device and commonly implemented at the end of copper line. Unlike traditional tank monitoring devices, distributed fiber optic sensing technology use the entire length of glass fiber and turn it into thousands of sensing points to provide more accurate and efficient results.

Traditional sensors rely on various sensors measuring at pre-decided points, whereas, distributed sensing does not rely upon manufactured sensors but take advantage of optical fiber. Distributed fiber optic sensors enable surveilling solutions with benefits for the safety of society and critical assets, especially when surveilling in inhospitable environments or remote locations. These sensors substitute integration of thousands of sensors with single optical fiber system. Moreover, the optical fiber is light weighted, manageable, available at low-price, and unaffected to electromagnetic interference (EMI), which makes it an economical and flexible sensor medium. The benefits associated with distributed optic fiber sensors are likely to spur the growth of this market.

Companies Mentioned:

Schlumberger Limited
Halliburton Company
Yokogawa Electric Corporation
Weatherford International Plc
Qinetiq Group Plc
Luna Innovations Incorporated
Bandweaver
Omnisens S.A.
Brugg Kabel Ag
Ap Sensing Gmbh
Afl Global
Ziebel As

Key Topics Covered:

1. Research Background

2. Research Methodology

3. Executive Summary

4. Introduction

5. Market Size And Forecast By Scattering Process

6. Market Size And Forecast By Operating Principle

7. Market Size And Forecast By Fiber Type

8. Market Size And Forecast By Vertical

9. Market Size And Forecast By Application

10. Market Size And Forecast By Geography

11. Competitive Landscape

12. Company Profiles

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/research/75v8sx/global

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SOURCE Research and Markets