Press release
Emeging Evolution of Of Distributed Fibre Optic Sensor Market in Global Industry 2018-2026
The global distributed fibre optic sensor market was worth US$ 1.1 Bn in 2015 and is expected to register a CAGR of 10.4% during the forecast period (2016-2026).
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Public awareness and industrial modernisation is driving the growth of the global distributed fibre optic sensor market
Enhanced public awareness about distributed fibre optic sensors and an increase in demand from core sectors such as oil, gas, telecom, heavy industries, railways, and the military is expediting the growth of the global distributed fibre optic sensor market. Apart from private players the government is also heavily procuring and using distributed fibre optics in different projects. To reduce the impending cost of a big project most of the private and government players are implanting distributed fibre optic sensors and this is likely to fuel the overall growth of the global distributed fibre optic sensor market and balance the market demand-supply ratio. The mining sectors struggle with old technologies and the need to implement advanced technologies is opening a window of opportunity for key players operating in the global distributed fibre optic sensor market.
However, the high cost factor associated with distributed fibre optic sensors and slow economic development of some of the major markets spread across APEJ and MEA might hinder the future growth of the global distributed fibre optic sensor market.
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Temperature sensing segment likely to spearhead the application category with maximum market share
The Temperature Sensing application segment accounted for the highest market share in 2015 and was valued at US$ 518.2 Mn in 2015. This segment is anticipated to register a CAGR of 9.0%. The Acoustic/Vibration Sensing segment is expected to register high Y-o-Y growth rates throughout the forecast period.
Rayleigh scattering based distributed sensor segment predicted to register the highest CAGR during the forecast period
The Rayleigh Scattering Based Distributed Sensor technology segment was valued at US$ 215.2 Mn in 2015 and is anticipated to register the highest CAGR of 12.1% during the forecast period. In terms of revenue, the Brillouin Scattering Based Sensor segment is projected to be the most attractive segment in the global distributed fibre optic sensor market during the forecast period.
Oil & Gas segment to dominate the global distributed fibre optic sensor market
The Oil & Gas vertical segment accounted for the highest market share with a valuation of US$ 661.5 Mn in 2015 and is expected to remain dominant in terms of revenue throughout the forecast period. The Transportation Infrastructure segment is estimated to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to exhibit a CAGR of 12.5% between 2016 and 2026.
North America slated to be the largest market for distributed fibre optic sensors
North America was the largest market for distributed fibre optic sensors in 2015 and accounted for 31.1% market share of the global distributed fibre optic sensor market in 2015. This market is projected to be the most attractive market in terms of revenue during the forecast period. The APEJ distributed fibre optic sensor market is expected to register high Y-o-Y growth rates throughout the forecast period. APEJ is anticipated to witness a value CAGR of 12.3% between 2016 and 2026.
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Market leaders are focussing on strategic partnerships to enhance their product portfolio
FISO Technologies Inc., Brugg Kabel AG, OSENSA Innovations Corp., Sensor Highway Ltd., Omnisens S.A., AFL Global, Lockheed Martin Corporation, and QinetiQ Group plc. are some of the leading companies operating in the global distributed fibre optic sensor market. These companies are adopting innovative approaches to product development and are focussing on continuous operational expansion across the globe through partnerships and acquisitions.
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