Global Distributed Fiber Optic Sensors Market Analysis - 2018-2027
Based on the scattering principles of Brillouin, Raman and Rayleigh distributed fiber optic sensors (DOFS) are majorly used for large-scale monitoring and for measuring various variables such as temperature, pressure or mechanical strain distribution in high resolution. Additionally, the fibers which acts as sensors are known as intrinsic sensors, whereas on the other hand extrinsic sensors are used for transporting light from and to the actual sensor. The global distributed fiber optic sensors market is anticipated to record a CAGR of 10.6% over the forecast period, i.e. 2020-2027, on account of several factors which include the increasing use of fiber optic sensors in the smart well which are developed to produce oil, rising investment in the infrastructure and the need amongst several vendors and governments to indulge in the exploration and drilling activities to cope with the issues of depleting sources of conventional oil reserves around the globe.
The global distributed fiber optic sensors market consists of various segments that are segmented by sensing element, scattering, technology, application and by region. Out of these, the intrinsic fiber optic segment, which is a sub-segment of the sensing element segment, is anticipated to hold the largest market share in the year 2027 and is anticipated to grow at a CAGR of 10.1% during the forecast period and reach a value of USD 1397.9 million by the end of 2027. Moreover, the segment is also anticipated to attain an absolute $ opportunity of USD 687.1 million during the forecast period and have an incremental $ opportunity of USD 104.2 million in the year 2027 as compared to the previous year.
Based on region, the global distributed fiber optic sensors market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for 19.11% share in the year 2018, is estimated to witness the highest CAGR of 12.1% over the forecast period and attain an absolute $ opportunity of USD 272.7 million during the forecast period along with an incremental $ opportunity of USD 44.7 million in the year 2027 as compared to the previous year.
Numerous companies in the global distributed fiber optic sensors market are making various efforts to expand their business to meet the increased demand and are focusing on expansion in both product line and product mix to achieve the desired growth of the organizations in the global distributed fiber optic sensors market. Moreover, increasing demand for distributed fiber optic sensors from end user industries across the globe is also inducing several new players to enter and participate in the competition in the global distributed fiber optic sensors market.
Based on the scattering principles of Brillouin, Raman and Rayleigh distributed fiber optic sensors (DOFS) are majorly used for large-scale monitoring and for measuring various variables such as temperature, pressure or mechanical strain distribution in high resolution. Additionally, the fibers which acts as sensors are known as intrinsic sensors, whereas on the other hand extrinsic sensors are used for transporting light from and to the actual sensor. The global distributed fiber optic sensors market is anticipated to record a CAGR of 10.6% over the forecast period, i.e. 2020-2027, on account of several factors which include the increasing use of fiber optic sensors in the smart well which are developed to produce oil, rising investment in the infrastructure and the need amongst several vendors and governments to indulge in the exploration and drilling activities to cope with the issues of depleting sources of conventional oil reserves around the globe.
The global distributed fiber optic sensors market consists of various segments that are segmented by sensing element, scattering, technology, application and by region. Out of these, the intrinsic fiber optic segment, which is a sub-segment of the sensing element segment, is anticipated to hold the largest market share in the year 2027 and is anticipated to grow at a CAGR of 10.1% during the forecast period and reach a value of USD 1397.9 million by the end of 2027. Moreover, the segment is also anticipated to attain an absolute $ opportunity of USD 687.1 million during the forecast period and have an incremental $ opportunity of USD 104.2 million in the year 2027 as compared to the previous year.
Based on region, the global distributed fiber optic sensors market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific, which had accounted for 19.11% share in the year 2018, is estimated to witness the highest CAGR of 12.1% over the forecast period and attain an absolute $ opportunity of USD 272.7 million during the forecast period along with an incremental $ opportunity of USD 44.7 million in the year 2027 as compared to the previous year.
Numerous companies in the global distributed fiber optic sensors market are making various efforts to expand their business to meet the increased demand and are focusing on expansion in both product line and product mix to achieve the desired growth of the organizations in the global distributed fiber optic sensors market. Moreover, increasing demand for distributed fiber optic sensors from end user industries across the globe is also inducing several new players to enter and participate in the competition in the global distributed fiber optic sensors market.
