LONDON, April 24, 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.
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"DTS market for fire detection applications 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 Greenfield projects in the oil & gas industry are also expected to drive the adoption of the DTS technology in this region.
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)