Distributed Fiber Optic Sensor Market Size Worth $2.39 Billion By 2025
The global distributed fiber optic sensor market size is expected to reach USD 2.39 billion by 2025, according to a new report by Grand View Research, Inc. Distributed fiber optic sensors are used in a wide range of application sectors such as oil & gas, infrastructure development, civil engineering, and power & utility.
The demand from the civil engineering vertical and the increasing growth opportunities in the oil & gas sector are driving the growth of the distributed fiber optic sensor market. Optical inspection equipment manufacturers are concentrating on ensuring DFOS sensors’ capability of working in a challenging environment. Associated innovation arenas are infrastructure, architecture, and assessment capability.
Numerous challenges and the consistencies and technological complexities that incur in optical inspection process are restricting the market growth. The auxiliary encounters of a DFOS equipment include repairs, reliability challenges, and rework problems. New product developers and visionaries aim to dominate the technology segment by providing exclusive technology offerings and value differentiation.
The growing penetration of the fiber optics technology is encouraging manufacturers and suppliers to invest in research & development for introducing better products. They are optimizing their production processes and regulating efficiencies & prices to curb all other alternatives of the fiber optics technology. As the production & installation processes of DFOS products are reasonably costly, researchers are focusing on developing dependable and competitively priced optic inspection products.
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Further key findings from the report suggest:
The   temperature sensing application segment dominated the market (in terms of   market size) in 2015. Temperature sensors find solicitations in the oil   & gas and civil engineering segments.
North   America dominated the global market and accounted for the largest market   share (in terms of revenue) in 2015
The growing   demand for DFOS equipment can be attributed to the ever-growing demand for   efficient and optimized processes, across enterprises and manufacturing   sectors
The key   industry participants include Yokogawa Electric Corporation (Japan),   Halliburton Company (U.S.), Schlumberger Limited (U.S.), and QinetiQ Group   plc (U.K.).
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
