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Fiber Optic Sensors - Global Market Trajectory & Analytics

  • ID: 516887
  • Report
  • February 2022
  • Region: Global
  • 612 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Avantes B.V.
  • EXFO Inc.
  • Halliburton
  • O/E LAND Inc.
  • Optrand, Inc.
  • Roctest Ltd.

Global Fiber Optic Sensors Market to Reach US$4.4 Billion by the Year 2026


Fiber optic sensors are characterized by the capacity of high tolerance under extreme temperature conditions. Growth in the global market is being driven by increasing demand for different kinds of high-end applications with sophisticated functions in various industries. Demand is expected to become more intense in the following years, particularly for applications in extreme environmental conditions in which electrical sensors fail to function as effectively. Examples of such applications include the oil & gas and manufacturing sectors. Another major driving factor is increase in the exploration of unconventional energy resources across the world. Deployment of ultra-miniaturized and power-efficient sensors is predicted to contribute significantly to 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 capability to identify cracks and damages in concrete structures, which is not possible with many of the existing monitoring technologies. Fiber optic sensors present potential for faster and efficient means for identifying structural damages in civil constructions and aircrafts, detecting intrusion in secured premises and identifying presence of oil in oil reservoirs, and therefore has and will continue to remain in focus of global R&D and commercialization efforts in these segments.

Amid the COVID-19 crisis, the global market for Fiber Optic Sensors estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 8.6% over the analysis period. Intrinsic, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR 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 its induced economic crisis, growth in the Extrinsic segment is readjusted to a revised 7.2% CAGR for the next 7-year period. This segment currently accounts for a 31.4% share of the global Fiber Optic Sensors market. Extrinsic sensors employ the fiber for guiding the 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 within the waveguide and measures the optical signal`s impacts while moving down the fiber.



The U.S. Market is Estimated at $746.8 Million in 2021, While China is Forecast to Reach $539.5 Million by 2026


The Fiber Optic Sensors market in the U.S. is estimated at US$746.8 Million in the year 2021. The country currently accounts for a 25.99% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$539.5 Million in the year 2026 trailing a CAGR of 10.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR while Rest of European market (as defined in the study) will reach US$605.3 Million by the end of the analysis period. The utilization of distributed fiber optic sensors in North America`s oil wells is enabling growth in the region. Growth in Asia-Pacific will primarily be driven by increased uptake of aviation in nations such as Thailand, Malaysia, Australia, New Zealand, Indonesia, Singapore, China and India.

Select Competitors (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 Corporation
  • O/E LAND Inc.
  • Ocean Optics, Inc.
  • Optrand, Inc.
  • Prime Photonics LC
  • Roctest Ltd.
  • Schlumberger Limited
  • Sensornet Ltd.
  • Sensuron
  • Weatherford International Ltd.
  • Ziebel AS
Frequently Asked Questions about the Global Market for Fiber Optic Sensors

What is the estimated value of the Global Market for Fiber Optic Sensors?

The Global Market for Fiber Optic Sensors was estimated to be valued at $2.7 Billion in 2020.

What is the growth rate of the Global Market for Fiber Optic Sensors?

The growth rate of the Global Market for Fiber Optic Sensors is 8.5%, with an estimated value of $4.4 Billion by 2026.

What is the forecasted size of the Global Market for Fiber Optic Sensors?

The Global Market for Fiber Optic Sensors is estimated to be worth $4.4 Billion by 2026.

Who are the key companies in the Global Market for Fiber Optic Sensors?

Key companies in the Global Market for Fiber Optic Sensors include Avantes B.V., Baumer Group, Davidson Instruments, Inc., EXFO Inc., FISO Technologies Inc., Halliburton, Honeywell International Inc., Intelligent Fiber Optics Systems Corp. and KVH Industries, Inc..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Avantes B.V.
  • EXFO Inc.
  • Halliburton
  • O/E LAND Inc.
  • Optrand, Inc.
  • Roctest Ltd.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Impact of the Pandemic on Fiber Optic Sensors
  • Optical Fiber Sensors Exude Great Diagnostics Potential in Fight against COVID-19
  • Fiber Optic Sensors - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • 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 High Growth market
  • Market Outlook
  • Recent Market Activity
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rising Investments in Smart City Projects Augur Well
  • Global Smart Cities Opportunity (In US$ Billion) for Years 2021, 2024, 2027
  • High Demand Anticipated for 5G Optical Sensing Technologies
  • Breakdown of Network Latency (in Milliseconds) by Network Type Network Latency (Milliseconds)
  • Number of 5G Connections Worldwide: 2020-2025
  • Fiber Optic Sensors Augment AI-Based Analysis
  • World Market for AI-based Hardware, Software and Services (In US$ Million) by Technology for the Years 2018, 2022 and 2024
  • Fiber Optic Sensors Seek Role in Industry 4.0 Environments
  • Global Industry 4.0 Revenues in US$ Billion for 2019, 2021, 2023 and 2025
  • Progressive Developments to Spur Fiber Optic Sensors Market
  • Startups Venture into Development of Promising Optical Fiber Sensor Technologies
  • Aviation Technology Displays Striking Leap Forward with Fiber Optic Sensors
  • Deep Dive into Primary Applications of Fiber Optic Sensors in Aerospace Industry
  • Downturn in Aerospace Industry Impacts Demand
  • Global Aircrafts Fleet (in Units) for Years 2020, 2021, 2026, & 2031P
  • Commercial Airline Revenue Growth (in %) for 2010-2020 Year Growth Rate (%)
  • Global Airlines Performance by Region: 2020 Vs 2019
  • Increasing Focus on Guidance and Control of Munitions Drive Applications in Defense Sector
  • A Review of Military and Defense Spending in Select Countries Amid the Pandemic
  • Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems: Defense Expenditure Worldwide in US$ Billion for the Years 2001 through 2020
  • Unmanned Aerial Vehicles: Market Opportunity with Significant Potential
  • Global Market for Drones (In US$ Billion) for the Years 2017, 2019, 2022 and 2024
  • Fiber Optic Sensing Systems Advantageous for Space Applications
  • Fiber Optic Sensing Holds Bright Future in Oil & Gas Industry with Diverse Applications
  • Distributed Fiber Optic Sensing for Kick Detection
  • Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
  • CAPEX Cuts in the O&G Industry Puts Investments on IEMS into the Back Burner: Global Oil & Gas E&P Industry Spending (2015-2021E)
  • Increasing IoT Adoption in Oil and Gas Industry Widens Opportunities
  • Pipeline Monitoring: A Growing Application
  • DAS Finds Increasing Adoption
  • Structural Health Monitoring in Smart Structures Builds Opportunities for FOS in Civil Engineering Sector
  • Resurgence in Infrastructure Investments to Boost Demand for Fiber Optic Sensing for Enhanced Efficiency in Infrastructure Monitoring
  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • Industrial Sector Offers Wide Opportunities
  • Telecom Sector: The Traditional End-Use Application Area
  • VR Ecosystem Emerges as Key Sphere for Implementation of Fiber Optic Sensors
  • FO-DTS Finds Use in Environmental Applications
  • Revival in the Automotive Industry to Sustain Demand for Fiber Optic Sensors
  • World Automobile Production in Million Units: 2008-2022
  • Electric Vehicles Present Significant Scope for Implementation of Fiber Optic Sensors
  • Global EV Sales for the Years 2020 and 2025
  • FOG-based IMUs to Make Big Gains in Autonomous Vehicles Vertical
  • Global Autonomous Vehicle Sales (In Million)
  • Energy Sector: A Growing End-Use Opportunity
  • Fiber Optic Sensors Gain Demand as the World Increasingly Harnesses the Power of Wind
  • Global Wind Power Market: Cumulated Installed Capacity (in GW) for the Years 2012 through 2020
  • World Renewable Energy Production (In Trillion Kilowatt Hours) by Energy Source for the Years 2017, 2020, 2030 and 2040
  • Increase in Offshore Wind Installations Presents New Opportunities: Global Offshore Wind Net Capacity Additions (In GW) for The Years 2018-2022
  • Global Investment Outlook (In US$ Billion) in Offshore Wind Energy by Select Country between 2019 and 2040
  • Bio Medical Applications Offer Significant Opportunities
  • Fiber Optic Sensors Re-Envisioning Healthcare Domain by Aiding Minimally-Invasive Procedures
  • Wearable Sensors for Health Monitoring Attain Next Level with Fiber Optic Sensors
  • Fiber Optic Sensors for Health Monitoring
  • R&D Geared towards Product Innovation: Key for Constant Growth
  • Fraunhofer IPT Offers High-end Fiber Optic Sensors for Automotive Engineering, Medical and Microsystems Technology Fields
  • Gallium Arsenide Fiber Optic Temperature Sensors for MRI Scanning Application from Rugged Monitoring
  • Optical Fiber Sensing Built on EWA
  • Reducing Costs: A Priority for Sensor Manufacturers

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Fiber Optic Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 173
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 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 Corporation
  • O/E LAND Inc.
  • Ocean Optics, Inc.
  • Optrand, Inc.
  • Prime Photonics LC
  • Roctest Ltd.
  • Schlumberger Limited
  • Sensornet Ltd.
  • Sensuron
  • Weatherford International Ltd.
  • Ziebel AS
Note: Product cover images may vary from those shown