"Rapid Growth in Real-time Monitoring predicted to uplift the Global Distributed Fiber Optic Sensor Market."
The globally distributed fiber optic sensor market stood at US$ 1,027.3 Mn in 2018 and is expected to reach US$ 2,698.2 Mn by 2027, expanding at a CAGR of 11.4% during the year forecast from 2019 to 2027.
Distributed fiber optic sensing is a novel technology that has gained a prominent pace 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.
Market Synopsis
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Scattering Process Analysis
"Rayleigh Scattering Effect expected to witness a Flourishing Growth during the Forecast Period."
Raman scattering effect led the globally distributed fiber optic sensor market in 2018 and is anticipated to follow the same trend over the forecast period. This scattering process is widely preferred because of its accuracy in the 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 is 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.
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End-use Industry Analysis
"Oil & Gas Captured Lucrative Market Revenue Share in the year 2018."
In 2018, the oil & gas industry dominated the globally 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 is anticipated to portray the oil & gas industry as the largest user of distributed fiber optical sensors during the forecast period.
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Regional Analysis
"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 globally distributed fiber optic sensor market in 2018. 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 American pipelines is expected to reach US$ 232.5 Bn by 2025, raising a third of the global pipeline capacity. All the above parameters constitute the region's burgeoning oil & gas industry.
Key Players & Competitive Landscape:
"Rising Investment on Research & Development will spur the Competition among Market Players."
The globally distributed fiber optic sensor market is an emerging market with high competition. 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 the research & development of their products.
List of Companies Covered:
- Schlumberger Limited
- Weatherford International Plc
- Halliburton Company
- Omnisens SA
- Brugg Kabel AG
- Yokogawa Electric Corporation
- OFS Fitel LLC
- Luna Innovations Incorporated
- AFL
- Ziebel AS
- QinetiQ Group Plc
- Bandweaver
- AP Sensing GmbH
Key Industry Development:
- On September 19, 2018, Yokogawa Electric Corporation announced the launch of DTSX1, a fiber optic heat detector. The new solution provides real-time heat sensing and fire detection capability. In addition, it is cost-effective, easy to install, and has data measuring capability from four cables up to 16 Km distance. With this new product launch, Yokogawa Electric Corp. targets power, chemical, iron & steel, pulp & Paper, non-ferrous metal, and oil & gas industries.
- On July 10, 2017, AFL introduced FS200-60 Live PON Troubleshooting OTDR, a new member in its FlexScan family of pocket-sized OTDR. The new FS200-60 includes a Visual Fault Locator (VFL), 1650 nm filtered OTDR, optional Bluetooth, and an optional power meter.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The distributed fiber optic sensor market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides a round view of the global distributed fiber optic sensor market based on sensing technique, scattering process, fiber type, application, end-use industry, and geography. Key segments covered in the report are as follows:
