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Distributed Fiber Optic Sensor System Market Segmentation By Sensing Element (Intrinsic Fiber Optic and Extrinsic Fiber Optic); By Scattering (Brillouin, Raman and Rayleigh Scattering); By Technology (Distributed Temperature Sensing, Distributed Acoustic Sensing and Others) and By Application (Oil & Gas, Geothermal Energy, Wind Energy, Aerospace, Military and Others) - Global Industry Demand Analysis and Opportunity Assessment 2018-2027

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Extensive insights into the Growth of Distributed Fiber Optic Sensor System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Market Overview

Distributed fiber optic sensor system is a system referred to the monitoring of fiber optic sensors which are used to monitor a wide range of variables including temperature, acoustic perturbations, strain and others. The distributed fiber optic sensor system is designed in such a way that it analyzes the status and performance of the distributed fiber optic sensor networks, used for the transmission of voice and data signals, by sending signals in a constant movement, both backward and forward, in the laid optical fiber distribution. Fiber optic sensors find massive utilization in regions with high voltage electricity and are known to have several functional characteristics, which includes poor conductivity to electricity and high resistance to electromagnetic interference. They are also deployed in high electromagnetic interference zones as they can withstand high temperature. Other conventional sensors fail to operate at such environments, resulting in the deployment of a greater number of distributed fiber optic sensors and sensor systems. Moreover, factors such as low cost, radio frequency immunity (RFI), high band, electromagnetic interference (EMI) and light weight have led to the greater demand for distributed fiber optic sensor systems in the end user industries over conventional electronic sensors. The global distributed fiber optic sensor system market is anticipated to attain a CAGR of 11.0% over the period of forecast i.e. 2020-2027. The global distributed fiber optic sensor system market was valued at USD 6967.7 million in the year 2018 and is anticipated to reach USD 19403.8 million by the end of 2027.

Growth Highlights based on Region during 2018-2027

The global distributed fiber optic sensor system market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, Europe distributed fiber optic sensor system market held the largest share of 36.32% in the year 2018 is anticipated to grow at a CAGR of 10.9% over the forecast period. Further, the region is also anticipated to reach a value of USD 7009.9 million in the year 2027 by growing at a growth rate of 2.77x from the year 2018 and attain an absolute $ opportunity of USD 3608.9 million during the forecast period. Moreover, the distributed fiber optic sensor system market in North America is anticipated to reach a value of USD 5707.7 million by the end of 2027. CLICK TO DOWNLOAD SAMPLE REPORT

Distributed Fiber Optic Sensor System Market Share Graph

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation Synopsis

By Application

The global distributed fiber optic sensor system market has been segmented by application into oil & gas, geothermal energy, wind energy, aerospace, military and others. Oil & gas segment accounted for the largest market share of 34.06% in the year 2018 and is anticipated to grow at a CAGR of 10.6% during the forecast period. The growth of the segment can be attributed to the growing demand for distributed fiber optics in the oil and gas industry. The oil & gas segment is further anticipated to reach USD 6426.3 million in the year 2027 from USD 2373.0 million in the year 2018 by growing at a growth rate of 2.71x. The segment is also anticipated to attain an absolute $ opportunity of USD 4053.3 million in-between the assessment period, i.e. 2018-2027 and gain an incremental $ opportunity of USD 503.7 million in the year 2027 as compared to the previous year.

Distributed Fiber Optic Sensor System Market Graph

Market Drivers and Challenges

Growth Indicators

Rising investment in the deployment of distributed fiber optic sensor infrastructure in smart wells in the oil & gas industry along with the growing manufacturing industry are some of the key factors anticipated to drive the growth of the global distributed fiber optic sensor system market. The distributed optic fiber sensors are technically much advanced than conventional electronic sensors and have the characteristics to bear harsh environments. On the other hand, the oil & gas industry is rising on the back of growing demand for energy around the world and increasing consumption of oil in nations for different end use purposes. But, with the rising demand for oil and gas, there is an increasing concern for the depletion of oil reserves. Owing to such factors, oil vendors around the globe along with the interest of the governments are increasingly indulging in the drilling activities and exploration of oil reserves, which is anticipated to raise the demand for the deployment of distributed fiber optic sensors, which in turn will require the deployment of distributed optic fiber sensor systems. Such factors are anticipated to drive the growth of the global distributed fiber optic sensor system market.

Barriers

Any fluctuations in the price of oil in the oil industry affects the whole ecosystem, which in turn is estimated to lower the demand for distributed optic fiber sensor systems. Moreover, owing to several strict regulations in nations around the world, the deployment of distributed fiber optic sensor system becomes challenging, which is also anticipated to impact negatively towards the growth of the global distributed fiber optic sensor system market.

Competitive Landscape

There are several key players in the global distributed fiber optic sensor system market who are into the expansion of their business to meet the increased demand. Further, these companies are also focusing on the expansion of both their product line and product mix for achieving the desired growth of the organization in the global distributed fiber optic sensor system market.

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