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Global Distributed Fiber Optic Sensor Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research
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Among various industry verticals, oil and gas industry is expected to be the largest user of distributed fiber optic sensors. The several benefits associated with these sensors, including capability to provide more accurate and efficient results, even in remote locations, are the major factors behind their adoption in oil and gas vertical. Some of the factors like increasing adoption of distributed optic fiber sensors in oil and gas and soaring demand from the civil engineering vertical are expected to propel the growth of global distributed fiber optic sensor market in near future.
The global distributed fiber optic sensor market is expected to witness a CAGR of 15.0% during the forecast period, to reach $1,970.1 million by 2023. Distributed fiber optic sensors are widely being adopted in oil and gas vertical. In oil and gas applications, these sensors are being used for specific monitoring of well-temperature and for obtaining an authentic picture of physical parameters of wellbore. However, the market is expected to register fastest growth in civil engineering vertical, during the forecast period. Distributed fiber optic sensors are widely being adopted in civil engineering to enhance the inspection accuracy and efficiency.
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Based on application, temperature sensing application segment is likely to spearhead with largest revenue contribution throughout the forecast period. However, acoustic sensing application is expected to register highest growth among them during the forecast period. Wireless and passive nature of acoustic sensors is the major factor escalating its adoption. Distributed acoustic sensors are being used to measure any kind of vibrational change by using a distributed optic fiber.
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