According to a new market research report published by Acute Market Reports “Fiber Optic Sensors Market (Product Type – Intrinsic Fiber Optic Sensors, Extrinsic Fiber Optic Sensors; Material – Plastic, Glass; End-user – Industrial, Oil & Gas, Energy & Utilities, Healthcare, Automotive & Transportation and Defense) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global market for fiber optic sensors is set to exhibit CAGR at 10.1% over the forecast period from 2018 to 2026.
Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/fiber-optic-sensors-market
Market Insights
Fiber optic sensing has emerged as a prevalent technology across a number of industries, including healthcare, automotive, aerospace, civil and manufacturing and energy. These sensors are capable of measuring a wide variety of parameters, including strain, temperature, internal and applied loads, deflection, fluid level and more. Today, fiber optic sensors can be used to measure more than 60 parameters with a wide range of application areas. The fiber optic sensors are low-cost, lightweight, robust, immune to electromagnetic interference and able to operate in harsh environments. Unlike conventional electrical sensors, fiber optic sensors can be positioned close to large EMI sources and lightning-prone structures.
The overall market for fiber optic sensors is segmented by product type, material, end-user and geography. Based on the type of the product, the market for fiber optic sensors is driven by intrinsic sensors accounting for more than 2/3 of the total market value. Furthermore, the market for fiber optic sensors is led by end-user, industrial manufacturing & processing segments. The oil & gas segment is expected to have the highest growth rate on the market in the following years. Fiber optic sensors have provided a viable solution for well-being and reservoir surveillance in the oil and gas industry. These sensors are widely used in the oil and gas sector to measure temperature, chemical composition, pressure, acoustics and strain. Increased demand for optical fibers with longer transmission distances and higher bandwidth has increased with rising subsea processing and increasing system monitoring requirements.
On the basis of geography, North America dominated the overall fiber optic sensors market with a share of nearly 34% in the year 2017. The regional market growth is primarily governed by the presence of sophisticated industrial manufacturing & processing sector. Asia Pacific is expected to demonstrate the highest growth rate during the forecast period. The market growth in Asia Pacific is estimated to be supported by the rapidly growing industrial sector in China and India.
Some of the major companies profiled in the report include ABB Ltd., Halliburton CO, Fiso Technologies, Inc., OMRON Corporation, OmniSens S.A., Opsens Oil and Gas, Deltex Medical Group PLC, Finisar Corporation, Sumitomo Electric Industries Ltd., Luna Innovations Inc., Ziebel AS, OptaSense (QinetiQ Company), AP Sensing GmbH, Pepperl+Fuchs GmbH, Petrospec Engineering Inc., Schlumberger Ltd., AFL Group, SCHOTT AG, TE Connectivity and others.
Report Scope by Segments
By Product Type Segment (2016–2026; US$ Mn)
By Material Segment (2016–2026; US$ Mn)
By End-user Segment (2016–2026; US$ Mn)
By Geography Segment (2016-2026; US$ Mn)
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