Fiber news

Global Fiber Optic Sensors Market Trajectory and Analysis

Dublin, 08 Feb. 2022 (GLOBE NEWSWIRE) — The “Fiber Optic Sensors – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.

Global fiber optic sensor market to reach US$4.4 billion by 2026

Amid the COVID-19 crisis, the global fiber optic sensor market estimated at US$2.7 billion in 2020 is expected to reach a revised size of US$4.4 billion by 2026, with growth at a CAGR of 8.6% over the analysis period.

The demand is expected to become more intense in the coming years, especially for applications in extreme environmental conditions in which electrical sensors do not operate as efficiently. Examples of such applications include the oil and gas and manufacturing sectors.

Another major driving factor is the increase in the exploration of unconventional energy resources across the world. The deployment of ultra-miniaturized and energy efficient sensors is expected to contribute significantly to the market growth. The market is also driven by applications such as crack monitoring in concrete-based structures.

The preference for fiber optic sensors in these applications is due to their ability to identify cracks and damage in concrete structures, which is not possible with most existing monitoring technologies.

Fiber optic sensors have the potential for faster and more efficient means of identifying structural damage in civil constructions and aircraft, detecting intrusions into secure premises and identifying the presence of oil in oil tanks, and therefore have and will continue to remain at the center of global R&D and commercialization efforts in these segments.

Intrinsic, one of the segments analyzed in the report, is expected to grow at a CAGR of 9.1% to reach US$3.5 billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Extrinsic segment is readjusted to a revised CAGR of 7.2% for the next 7-year period.

This segment currently accounts for a 31.4% share of the global fiber optic sensor market. Extrinsic sensors use fiber to guide light to the sensing region, the point at which the optical signal exits the waveguide and modulates into another medium. In contrast, in intrinsic sensors, the light continues to reside in the waveguide and measures optical signal impacts while traveling down the fiber.

The US market is estimated at $746.8 million in 2021, while China is expected to reach $539.5 million by 2026

The fiber optic sensor market in the United States is estimated to be worth US$746.8 million in 2021. The country currently accounts for a 25.99% share of the global market. China, the world’s second largest economy, is expected to reach an estimated market size of US$539.5 million in 2026 growing at a CAGR of 10.5% over the analysis period.

Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 7.1% and 7.4% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 8.2%, while the rest of the European market (as defined in the study) will reach US$605.3 million by the end of the year. analysis period.

The use of distributed fiber optic sensors in North American oil wells is driving growth in the region. Growth in Asia-Pacific will be primarily driven by increased adoption of aviation in countries such as Thailand, Malaysia, Australia, New Zealand, Indonesia, Singapore, China and India .

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Pandemic impact on fiber optic sensors
  • Fiber-optic sensors offer great diagnostic potential in the fight against COVID-19
  • Fiber optic sensors: a prelude
  • Extrinsic and intrinsic FOS
  • Types of fiber optic sensors by category
  • Market evolution over the years
  • Distributed fiber optic sensors: a rapidly growing market
  • Market Outlook
  • Recent market activity
  • Global brands

2. FOCUS ON CERTAIN PLAYERS (Total 173 featured)

  • Avantes B.V.
  • Baumer Group
  • Davidson Instruments, Inc.
  • EXFO Inc.
  • FISO Technologies Inc.
  • Halliburton
  • Honeywell International Inc.
  • Intelligent Fiber Optics Systems Corp.
  • Keysight Technologies, Inc.
  • KVH Industries, Inc.
  • LUNA Innovations Incorporated
  • Northrop Grumman Company
  • O/E LAND Inc.
  • Ocean Optics, Inc.
  • Optrand, Inc.
  • Prime Photonics LC
  • Roctest Ltd.
  • Schlumberger Limited
  • Sensornet Ltd.
  • Sensoron
  • Weatherford International Ltd.
  • Ziebel AS

3. MARKET TRENDS AND DRIVERS

  • Rising investment in smart city projects bodes well for market growth
  • Strong demand predicted for 5G optical sensing technologies
  • Fiber optic sensors enhance AI-based analysis
  • Fiber optic sensors seek to play a role in Industry 4.0 environments
  • Progressive Developments to Drive the Fiber Optic Sensor Market
  • Startups are embarking on the development of promising fiber optic sensor technologies
  • Aeronautical technology shows startling leap forward with fiber optic sensors
  • Deep dive into the main applications of fiber optic sensors in the aerospace industry
  • Slowdown in the aerospace industry is impacting demand
  • Increased focus on guidance and control of munitions propulsion applications in the defense sector
  • A review of military and defense spending in selected countries amid the pandemic
  • Defense Spending Trends Define Demand Dynamics for Military Electro-Optical and Infrared Systems
  • Unmanned Aerial Vehicles: Market Opportunity with Significant Potential
  • Advantageous fiber optic sensing systems for space applications
  • Fiber optic sensing promises a bright future in the oil and gas industry with various applications
  • Fiber optic distributed sensing for kick detection
  • Amid the COVID-19 outbreak, the oil and gas sector faces tough times
  • Growing Adoption of IoT in the Oil & Gas Industry Expands Opportunities
  • Pipeline Monitoring: A Booming Application
  • DAS sees growing adoption
  • Structural Condition Monitoring in Smart Structures Creates Opportunities for SOF in the Civil Engineering Industry
  • Resurgence of infrastructure investment to drive demand for fiber optic sensing for increased efficiency in infrastructure monitoring
  • The industrial sector offers great opportunities
  • Telecommunications sector: the traditional end-use application domain
  • The VR ecosystem appears as a key sphere for the implementation of fiber optic sensors
  • FO-DTS finds use in environmental applications
  • Automotive industry revival to support demand for fiber optic sensors
  • Electric vehicles present an important field of application for the implementation of fiber optic sensors
  • FOG-Based IMUs to Make Big Gains in Vertical Autonomous Vehicles
  • Energy Sector: A Growing End-Use Opportunity
  • Fiber optic sensors are growing in demand as the world increasingly harnesses the power of the wind
  • Biomedical applications offer significant opportunities
  • Fiber optic sensors are rethinking healthcare by facilitating minimally invasive procedures
  • Wearable sensors for health monitoring take things to the next level with fiber optic sensors
  • Fiber optic sensors for health monitoring
  • R&D focused on product innovation: the key to constant growth
  • Fraunhofer IPT offers high-end fiber optic sensors for automotive engineering, medical technology and microsystems
  • Gallium Arsenide Fiber Optic Temperature Sensors for Rugged Monitoring MRI Scanning Application
  • Fiber optic sensing based on EWA
  • Reducing costs: a priority for sensor manufacturers

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

IV. COMPETETION

For more information about this report visit https://www.researchandmarkets.com/r/12ecld