"Rapid Growth in Real-time Monitoring predicted to uplift the Global Distributed Fiber Optic Sensor Market"
The global distributed fiber optic sensor market was stood at US$ 1,289.2 Mn in the year 2021 and expected to reach US$ 3,386.2 Mn by the year 2030, expanding at a CAGR of 8.5% during the forecast from 2023 to 2030.
Distributed fiber optic sensing is a novel technology that has gained a prominent place in the recent past. The prime factor attributed to the market growth is its disruptive capabilities such as real-time and continuous measurement of the physical parameters such as temperature, strain, pressure, and others. In addition, a surge in demand for real-time sensors to detect the fault and risk prior to its period to prevent damages has flourished the market growth prominently. These days, distributed fiber optic sensors are largely used for pipeline monitoring in the oil & gas industry, infrastructure monitoring, geotechnical monitoring, electric power & substation monitoring, and many others.
"Rayleigh Scattering Effect expected to witness a Flourishing Growth during the Forecast Period"
Raman scattering effect led the global distributed fiber optic sensor market in the year 2021 and anticipated to follow the same trend over the forecast period. This scattering process is widely preferred because of its accuracy in measurement of physical parameters along with its ability to uphold the balance between a range in which it senses the physical parameters. In the wake of the same, the Raman scattering effect seeks lucrative growth in civil and oil & gas applications.
On the other hand, the Rayleigh scattering effect expected to grow with the highest rate during the forecast period. The prime factor accounting for the escalating segment growth is high sensitivity. The sensor has almost equal sensitivity for any changes in the parameters such as temperature, pressure, strain, and others. In addition, this scattering process is used to track the propagating effect that helps in analyzing various parameters.
"Oil & Gas Captured Lucrative Market Revenue Share in the year 2018"
In 2021, the oil & gas industry dominated the global distributed fiber optic sensor market in terms of revenue share. Increasing adoption of distributed sensing technology in pipeline monitoring and infrastructure health monitoring accounts for the prime factor contributing to the significant segment growth. Furthermore, increasing research & development for pipeline monitoring and gas leakage detection anticipated to portray the oil & gas industry as the largest user of distributed fiber optical sensors during the forecast period.
"North America Acquired Maximum Revenue Share in the Global Distributed Fiber Optic Sensor Market in the year 2018"
North America acquired the largest revenue share among the global distributed fiber optic sensor market in the year 2021. Increasing spending on oil & gas pipeline projects coupled with the presence of the longest oil & gas pipeline network of 2,034,065.0 km in the region contributed majorly to the significant regional growth. In addition, the proposed capital spending on North America pipelines expected to reach US$ 232.5 Bn by 2025 that will raise a third of the global pipeline capacity. All the above parameters constitute the burgeoning oil & gas industry in the region.
"Rising Investment on Research & Development will spur the Competition among Market Players"
The global distributed fiber optic sensor market is an emerging market with high competition. The increasing adoption of distributed fiber optic sensors across various verticals over the recent past has forced market competitors to develop new products as per consumer requirements. Today, distributed sensing technology is also used in transportation monitoring. Therefore, market players invest significantly in research & development of their products.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Distributed Fiber Optic Sensor market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Sensing Technique
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Scattering Process
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Fiber Type
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Application
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End-use Industry
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
