Fiber Optics Sensor Market - Forecasts from 2018 to 2023

The fiber optics sensor market was valued at US$1.986 billion in 2017 and is projected to grow at a CAGR of 9.79% over the forecast period to reach US$3.479 billion by 2023. Rising adoption of these sensors in the healthcare industry and their operational sensing efficiency in harsh environments will be the major factors driving the demand for these sensors. In addition, increasing research expenditure to make advancements in the fiber optic sensing technology will further add to the growing demand for these sensors. However, the high cost of these as compared to their substitutes will impede the adoption of these sensors over the forecast period. Geographically, North America and Europe held a significant market share and the APAC region is projected to witness substantial growth in the next few years.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the fiber optics sensor value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the fiber optics sensor market.

Major industry players profiled as part of the report are Opsens Solutions, Omron Corporation, Banner Engineering Corporation, Sick AG, Hamamatsu Photonics, Broadcom, and TE Connectivity among others.

Segmentation:

The fiber optics sensor market has been analyzed through following segments:

By Type

• Intrinsic Fiber-Optic Sensor


• Extrinsic Fiber-Optic Sensor

By Application

• Chemical Sensor


• Physical Sensor


• Bio Medical Sensor

By End-User Industry

• Healthcare


• Oil and Gas


• Defense and Aerospace


• Information Communication and Technology


• Others

By Geography

North America

• US


• Canada


• Mexico


• Others


• South America


• Brazil


• Argentina


• Others

Europe

• United Kingdom


• Germany


• France


• Italy


• Others

Middle East and Africa

• United Arab Emirates


• Israel


• Saudi Arabia


• Others

Asia Pacific

• China


• India


• South Korea


• Australia


• Others