The Global Distributed fiber Optic Sensor market is majorly driven by higher tolerance of fiber optic sensors for harsh conditions such as high temperature and Infrastructural growth according to our research report “Global Distributed fiber Optic Sensor Outlook 2023”.
Regionally, the distributed fiber optic sensor market is segmented into North America, Europe, Asia-Pacific and Rest of World (ROW). Among these, North-America is anticipated to witness a significant growth and occupy the largest share of the distributed fiber optic sensor market by 2023.
Globally, the market is estimated to project a promising CAGR of 9.2% over the period of forecast owing to the developing new technologies, rapid urbanization and increasing housing and security investments. Oil and gas industry accounted for 30% share to the global distributed fiber optics sensor market in 2015, however increasing demand for distributed fiber optics from oil and gas industry will further expand the market growth over the forecast period i.e. 2016-2023.
North-America region dominated the distributed fiber optic sensors market followed by Asia-Pacific in the year 2015. The expansion of market in this region is attributed to the high adoption rate of fiber optic sensors in the manufacturing industry and the availability of huge reserves resulting in increased drilling activities.
Higher Tolerance of Fiber Optic Sensors for Harsh Conditions: Uplift
Distributed fiber optics sensors are replacing the electronic sensors due to the edge of higher tolerance for harsh conditions such as high temperature, high electromagnetic interference, and high voltage supply where an electronic sensor fails; this will further expand the market growth of distributed fiber optic sensors across the globe.
Infrastructural Growth: Impetus
Increasing investment in the infrastructure, growth in the manufacturing industry and increasing use of fiber optic sensors in smart wells and extra edge over conventional electronic sensors with low cost, high bandwidth, light weight are some of the key factors driving the growth of the global distributed fiber optic sensors market.
The report titled “Global Distributed fiber Optic Sensor Market Outlook 2023” delivers detailed overview of the distributed fiber optic sensor in terms of market segmentation by regions, by types, by end use industry applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the distributed fiber optic sensor industry which includes company profiling of Lockheed Martin Corporation, Northrop Grumman Corporation, Future Fiber Technologies Ltd., Weatherford International, Tendeka Group etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the global distributed fiber optic sensor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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