The global distributed temperature sensing market to grow at a CAGR of 7.55% during the period 2017-2021.
Global Distributed Temperature Sensing Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
One trend in the market is growing importance of DTS in oil and gas sector. DTS is in high demand in the oil and gas sector, where they are used for quality assurance of pipelines and other exploration activities from extraction to storage. Oil and gas need to be kept at accurate temperatures in order to maintain the quality and safety of extraction activities. Slight variations in temperature can lead to poor quality extraction of oil and high chances of disaster.
According to the report, one driver in the market is need for enhanced safety and improvement in productivity yields. Improved production yields and enhanced safety measures are important for subsea oil operations and land mining operations. Recent improvements in the reliability and performance of DTS sensing systems in harsh environments, including high pressure, high temperature, hydrogen rich environments, and fiber optic solutions are in line with the needs of DTS in the oil and gas industry. Furthermore, optical fibers can go beyond data functions and transport as fully distributed and direct sensors.
Further, the report states that one challenge in the market is continual price reductions. The global distributed temperature sensor market is highly competitive due to the presence of many manufacturers. As the competition intensifies, the manufacturers compete on the basis of product quality, performance, and price. They are trying to produce high-quality products at reduced prices, primarily in emerging countries like China because many small country-based suppliers enter the markets by introducing products at low cost for local original equipment manufacturers. Automotive manufacturers and industrial equipment manufacturers follow an annual price reduction policy.