openPR Logo
Press release

Fiber Optic Sensor Market to hit US$ 5,506.24 Million, Globally, by 2028 at 9.16% CAGR: The Insight Partners

12-09-2021 02:53 PM CET | IT, New Media & Software

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to our new research study on “Fiber Optic Sensor Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, Vertical, and Geography,” the Fiber Optic Sensor Market Size is projected to reach US$ 5,506.24 million by 2028 from US$ 2,980.47 million in 2021; it is expected to register a CAGR of 9.16% from 2021 to 2028.

In the automotive sector, fiber optic sensors are used in lighting applications. The fiber transmits cold light, making it a safe alternative to traditional sealed beam or halogen lighting. Apart from the safety advantage, the light source is easily accessible and offers greater freedom of design. The deployment of fiber optics also allows  the separation of light source and output location, thereby providing high-performance lighting options with reduced physical space requirements, making them suitable for difficult and restricted access locations. The sensors are also used in automobiles in onboard safety devices and systems, such as operating airbags, traction control devices, and safety systems. According to the Organization international des constructers automobiles (OICA), ~91.3 million vehicles were sold across the world in 2019. Further, rising disposable incomes, mainly in emerging countries in APAC, promotes the sales of passenger vehicles, which, in turn, would fuel the adoption fiber optic sensors. Thus, the rising annual automotive sale is a significant factor contributing to the growth of the fiber optic sensor market.

Download Sample PDF Brochure of Fiber Optic Sensor Market Size and Growth Research Report at https://bit.ly/3lLjRUk

According to Electronic Components Industry Association (ECIA), the outbreak of COVID-19 resulted in a delay in product releases and disruption in supply chain events and other industry activities. Several manufacturers have temporarily halted the manufacturing units due to lesser demand for the products due to lockdown measures and limited manufacturing resources. Additionally, the manufacturers of various electronic and semiconductor products, including sensors, have been experiencing a substantial delay in lead times. During the first quarter of 2020, numerous Chinese manufacturers had temporarily shut down their manufacturing facilities, thereby showing a decline in supply and demand for electronics and semiconductor products worldwide. These factors have negatively impacted the fiber optic sensor market.

AOMS Technologies; Baumer Group; Davis Instruments; Keyence Corporation; Omnisens SA; OMRON Corporation; Halliburton Energy Services, Inc.; and Luna Innovations Incorporated are among the prominent manufacturers of fiber optic sensors. In May 2021, Halliburton Company collaborated with TGS-NOPEC Geophysical ASA; through this collaboration, the companies aim to offer oil & gas plant operators with improved insights to decide their reservoir potential for oil and gas production or carbon storage. Further, Luna Innovations unveiled a new measurement solution enabled with the improved fiber-optic sensing technology; the solution is optimized for greater precision and authentic high-definition distributed temperature measurements. The Optical Distributed Sensor Interrogator (ODiSI) platform of Luna is the industry’s high-definition fiber optic temperature measurement system capable of eliminating error-causing impacts of mechanical strain on fiber optic temperature sensors. Thus, with more such developments, the demand of fiber optic sensors would increase in the coming years.

Impact of COVID-19 Pandemic on Fiber Optic Sensor Market:

The COVID-19 pandemic created enormous disruption across industries, including electronics and semiconductors. Every phase of the business model has witnessed a drastic change, including the manufacturing units, capital expenditures, R&D, demand, supply chain, production decisions, and mergers and acquisitions (M & M&A). Over the past several months, the COVID-19 outbreak had severely challenged the electronics and manufacturers in strategy making. The disruption among raw material suppliers, temporary closure of manufacturing units, limited funding, and weak demand from customers have showcased adverse impact on the electronics and semiconductor manufacturers.

Fiber Optic Sensor Market Forecast to 2028 - Latest COVID-19 Analysis at https://bit.ly/3ydXlbF

Fiber Optic Sensor market: Application

Based on application, the fiber optic sensor market is segmented into temperature sensing, pressure sensing, acoustic sensing, strain sensing, and others. The temperature sensing segment held the largest market share in 2020.

Fiber Optic Sensor market: Type Overview

Based on application, the fiber optic sensor market is segmented into temperature sensing, pressure sensing, acoustic sensing, strain sensing, and others. The temperature sensing segment held  the largest market share in 2020.

Fiber Optic Sensor Market: Competitive Landscape and Key Developments

AOMS Technologies, Baumer Holding AG, Davidson Instruments, Keyence Corporation, Omnisens SA, Omron Corporation, OptaSense Ltd, SICK AG, Solifos AG, and Yokogawa Electric Corporation are among the key market players in the global fiber optic sensor market. The leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

Order a Copy of Fiber Optic Sensor Market Size, Share, Strategic Insights and Forecasts 2021-2028 Research Report at https://bit.ly/309kAHk

The players operating in the fiber optic sensor market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In April 2020, AOMS Technologies and PCL Construction entered a partnership to make IoT-enabled "Smart Construction" a new reality. This partnership is expected to further enhance Job Site Insights (JSI) and PCLS's cloud-based construction platform.

In May 2020, Omnisens SA announced the release of ODAS, its new family of Distributed Acoustic Sensing (DAS) interrogators that combines chirped pulse laser technology with Omnisens' techniques on programmable chirp coding and modulation.

Contact US:

If you have any queries about this report or would like further information, please contact us:

North America: +1 646 491 9876

Asia-Pacific: +91 20 6727 8686

Email: sales@theinsightpartners.com

ABOUT US:

The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Fiber Optic Sensor Market to hit US$ 5,506.24 Million, Globally, by 2028 at 9.16% CAGR: The Insight Partners here

News-ID: 2492085 • Views: 106

More Releases from The Insight Partners

Multi-Access Edge Computing Market Top Demand & Massive Scope Till 2028
An exclusive Multi-Access Edge Computing Market research report has been fabricated through the in depth analysis of the market dynamics across five regions including North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by components, end users, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts (key opinion leaders of companies, and stakeholders) and
Artificial Intelligence (AI) Edge Computing Market Business Growth and Future Sc …
An exclusive Artificial Intelligence (AI) Edge Computing Market research report has been fabricated through the in depth analysis of the market dynamics across five regions including North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by components, end users, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts (key opinion leaders of companies, and
Merchant Embedded Computing Market Top Trends and Scope Till 2028
An exclusive Merchant Embedded Computing Market research report has been fabricated through the in depth analysis of the market dynamics across five regions including North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by components, end users, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts (key opinion leaders of companies, and stakeholders) and
Battery Metals Market Size to Reach $32,251.1 Mn, Globally, by 2028 at 12.9% CAG …
The latest research study on "Battery Metals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Lithium, Nickel, Cobalt, and Others) and Application (Electric Vehicles, Consumer Electronics, Energy Storage Systems, and Others)", published by The Insight Partners. The expanding electric vehicles industry in developing countries is driving the battery metals market growth. Get Exclusive Sample Pages of this research study at https://www.theinsightpartners.com/sample/TIPRE00024358/?utm_source=OpenPR&utm_medium=10310 Battery Metals Market: Competition Landscape and Key

All 5 Releases


More Releases for Optic

Optic Nerve Disorders Drugs Market Projected to Discern Stable Expansion During …
The optic nerve consists of more than one million nerve fibers and its function is to carry visual messages to the brain. Optic nerve disorders cause damage to the nerve due to factors ranging from infection to trauma. Damage to an optic nerve can cause vision loss, reduction in visual acuity, loss or reduction in color vision, pupil response abnormality and others. Optic nerve disorders drugs are used for the
Global fiber optic connectivity market | fibre broadband, fiber internet, fiber …
In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Global Fiber Optic Connectivity Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The fiber optic connectivity market report provides analysis for the period 2016
Global Presents Fiber-optic Filters Market Growth and Forecast 2018 to 2028(Segm …
Fiber-optic filters market: Market Overview Due to increasing reliance of organizations on IT (Information Technology), the demand for robust, agile and cost effective IT infrastructure is growing rapidly. The fabric-optic filter market is expanding rapidly as the telecom service providers in this modern era are moving towards fiber-based networking services. Increasing advancements in telecom industry is one of the major factors driving the growth of the fiber-optic filter market worldwide. Furthermore,
Fiber-optic couplers Market Segmentation By Type Y Fiber-optic Couplers, T Fiber …
Fiber-optic couplers market: Market Overview Due to increasing reliance of organizations on IT, the demand for robust, agile and cost effective IT infrastructure is growing rapidly and supporting the Fiber-optic couplers market. The fabric-optic couplers market is expanding rapidly as the telecom services providers in this modern era are moving towards fiber based networking services. Increasing advancements in the telecom industry are one of the major factors driving the growth of
Fiber-optic Filters Market Segmentation By Type Digital Fiber-optic Filters, Man …
Fiber-optic filters market: Market Overview Due to increasing reliance of organizations on IT (Information Technology), the demand for robust, agile and cost effective IT infrastructure is growing rapidly. The fabric-optic filter market is expanding rapidly as the telecom service providers in this modern era are moving towards fiber-based networking services. Increasing advancements in telecom industry is one of the major factors driving the growth of the fiber-optic filter market worldwide. Furthermore, the
Global Fiber Optic Cables (Fiber-optic Cable) Market By Key Players: Prysmian, H …
Qyresearchreports include new market research report "Global Fiber Optic Cables (Fiber-optic Cable) Sales Market Report 2018" to its huge collection of research reports. Fiber optic cable is a cable containing one or more optical fibers that are used to carry light. The optical fiber elements are typically individually coated with plastic layers and contained in a protective tube suitable for the environment where the cable will be deployed. In the last Five