Distributed Fiber Optic Sensor Market Growth Analysis by 2026
The Distributed Fibre Optic Sensor Market Size would grow from USD 0.9 billion in 2021 to USD 1.5 billion by 2026 at a predicted CAGR of 9.7%.
The Distributed Fiber Optic Sensor Market is projected to reach USD 1.5 billion by 2026, at a CAGR of 9.7%. during the forecast period.
Rapid digitization and automation to fulfill the rising need for productivity, efficiency and safety in various processes and growing adoption of distributed sensors in applications such as pipeline monitoring, structural health monitoring, border monitoring and control are driving the growth of distributed fiber optic sensor market.
Surging demand for infrastructure vertical act as major driver for the market
The use of distributed fiber optic sensors in the infrastructure vertical has been continuously increasing primarily for structural health monitoring.
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The primary objective behind the growing penetration of distributed sensors in this vertical is to have a better understanding of the structural condition and economically efficient management of the infrastructure. Geotechnical structures, pipelines, bridges, and dams are the major areas where the penetration of structural health monitoring in the civil engineering industry is rising.
Multimode fiber is expected to contributethelargest market share during the forecast period
The market for multimode fibers is expected to contribute to the largest market during the forecast period. This is due to the use of multimode fiber-based sensors in the oil & gas vertical, which requires greater accuracy with fast and reliable transmission.
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A few other advantages of multimode fiber systems include the capability of operating with substantial optical power over moderate distances inexpensively; utilizing the multiplicity of propagation modes within the fiber for sensing purposes; providing a means of sensing spectral signature changes over considerable wavelength ranges; and relatively large dimensions so improving tolerances with respect to end effects and interconnectionsare a few of the major driving factors for the growth of the market of multimode fiber-based sensors.
Key Market Players in Distributed Fiber Optic Sensor Industry
The distributed fiber optic sensor marketis dominated by players such as Schlumberger (US),Halliburton (US), Yokogawa Electric (Japan),Weatherford International (Switzerland), Luna Innovations (US), OFS (US.), Bandweaver(US), Omnisens (Switzerland), AP Sensing (Germany) and DarkPulse (US).
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