The global distributed fiber optic sensor (DFOS) market is estimated to touch USD 1.87 billion, by 2025, and is projected to grow at the CAGR of 10.8% over the forecast period, 2019 to 2025. The increasing demand from oil & gas and civil engineering application is projected to spur market growth. Fiber optics are highly reliable in streams, pipes, and reactors wherein manual inspection is difficult. In addition, they are helpful in health monitoring, and security applications for preventing any intrusion.
Growing demand for sophisticated structure in industrial automation, for enhanced urban mobility is boosting the demand for fiber optical sensors. Governments across the globe are emphasizing on developing new projects and conserving their existing infrastructure. This has substantially increased investment in railway, dam, and road construction projects. Furthermore, rapid development in the civil engineering sector is anticipated to proliferate the demand for fiber optic sensor.
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Main features of the report:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Distributed Fiber Optic Sensors Market.
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• To provide country level analysis of the market for segment by application, product type and sub-segments.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Distributed Fiber Optic Sensors Market.
Manufacturers of DFOS sensors are increasingly investing in R&D activities for developing new products. Additionally, they are focusing on improving production efficiency using fiber optic technology. DFOS sensors require high installation and production costs, however, they offer greater reliability. Moreover, vigorous inspection process, and technological complexity may restrain the market growth.
Key manufacturers in the distributed fiber optic sensors market are focusing on product innovations and invest high in the R & D activities.
Further key findings from the report suggest:
• Depending on application, temperature sensing segment is projected account for largest market share by 2025.
• Manufacturers and suppliers of fiber optic products are seeking to attain higher bandwidth of 100 Gbps through research activities.
• In 2018, North America led the market with highest revenue share in the overall market.
• Increasing demand for optimized and efficient process in manufacturing sector and enterprises is boosting the demand for DFOS sensors.
Impact of COVID-19
COVID-19 pandemic has negatively impacted the global distributed fiber optic sensing market. Coronavirus outbreak has interrupted the supply chain of the fiber optics industry. Several fiber optic sensor suppliers are located in Chinese market. The country accounts for around 25.0% of global fiber optic productions. However, manufacturing units in China have resumed at limited capacity, thus, impacting positively to the global demand for fiber optic sensors.
In North America, oil prices had dropped massively during the COVID-19 pandemic. However, rising shales gas exploration activities are projected to boost the demand for distributed fiber optical sensors. DFOS sensor helps in enhancing the downhole sensing capabilities of oil & gas companies.
Global Distributed Fiber Optic Sensors Market: Key Players
Schlumberger Limited, Halliburton, Yokogawa Electric Corporation, Qinetiq Group PLC, OFS Fitel, LLC, Omnisens SA, AP Sensing GmbH, Luna Innovations Incorporated, and Brugg Kable AG.
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