Dublin, Jan. 31, 2022 (GLOBE NEWSWIRE) -- The "Distributed Fiber Optic Sensor Market with Covid-19 Impact Analysis by Fiber Type (Single-Mode, Multimode), Scattering Process, Operating Principle (OTDR, OFDR), Application (Temperature, Acoustic, Strain), Vertical and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global distributed fiber optic sensor market size is expected to grow from USD 0.9 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.7%
The market has a promising growth potential due to growing adoption of distributed fiber optic sensors especially in infrastructure and safety and security verticals along with oil and gas verticals in the near future.
The major factor restraining the growth of the distributed fiber optic sensor market is technical issues in the installation of distributed fiber optic sensors. Any kind of carelessness in the deployment or installation of the optical fiber can affect the readings recorded by the sensor, which, in turn, would restrain the growth rate of the market. Hence, the technical issues related to the installation of the distributed sensors act as a major restraining factor. This is expected to impact the distributed fiber optic sensor market negatively in the coming years.
The market declined in 2020, mainly due to the impact of COVID-19. The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which affected the distributed fiber optic sensor market. Though the market has been impacted in 2020, it is expected to recover by 2021.
"Distributed Temperature sensing: The largest segment of the distributed fiber optic sensor market, by application"
Temperature sensor is the largest segment of the distributed fiber optic sensor market by application. Distributed sensors for temperature sensing are primarily used in oil and gas production in permanent downhole monitoring, coil tubing optical-enabled deployed intervention systems, and slick line optical cable-deployed intervention systems.
They are also used in the power cable and transmission line monitoring, and temperature monitoring in plant and process engineering, including transmission pipelines. Increasing demand for data-based decision-making coupled with the cost-effectiveness of distributed fiber optic sensors is driving the market.
A few advantages of distributed fiber optic sensors include low cost, long-distance coverage, and others. DTS is much more cost-effective and beneficial to acquire accurate and high-resolution temperature measurements using fiber optic cables..
"OTDR:: The largest segment of the distributed fiber optic sensor market, by operating principle"
The market for OTDR-based distributed fiber optic sensors is expected to hold a larger size during the forecast period. The majority of the companies engaged in the manufacturing of distributed fiber optic sensors produce the sensors based on OTDR operating principle.
OTDR is a robust technology and is capable of providing accurate measurements with a high resolution. This technology has been in use since the inception of distributed fiber optic sensors.
"North America has the largest market share in the distributed fiber optic sensor market"
The North America region is expected to dominate the distributed fiber optic sensor market and is projected to have the largest market share during the forecast period. The companies in North America are boosting their production and widening their distribution networks, and the manufacturers are utilizing new technologies in their operations.
Furthermore, major players in the distributed fiber optic sensor market Halliburton Company (U.S.) and Schlumberger Limited (U.S.), among others have their roots in North America, which creates an opportunistic environment in the said region. Furthermore, North America is investing significantly in oil and gas pipeline projects to cater the growing demand for oil and gas.
The US is a leading country in North America, in terms of oil production and consumption. It has the largest network of oil and gas pipelines. These factors are expected to propel the distributed fiber optic sensor market in APAC
Premium Insights
- Distributed Fiber Optic Sensor Market is Expected to Grow at Significant Rate Owing to Increasing Demand from Oil & Gas and Infrastructure Verticals
- Multimode Fiber-Based Sensors Expected to Lead Distributed Fiber Optic Sensor Market in 2026
- Distributed Fiber Optic Sensor Market for Strain Sensing Application is Expected to Grow at Highest CAGR During Forecast Period
- Oil & Gas Vertical and US Are Likely to be Major Shareholders of Distributed Fiber Optic Sensor Market in North America in 2021
- Distributed Fiber Optic Sensor Market in China is Expected to Grow at Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Rising Applications in Oil & Gas Vertical
- Surging Demand from Infrastructure Vertical
- Reliability of Distributed Fiber Optic Sensors while Working in Challenging Environments
Restraint
- Technical Issues in Installation of Distributed Fiber Optic Sensors
Opportunities
- Growing Demand for Data-Based Analysis
- High Potential in Offshore Industry
- Stringent Statutory Regulations Regarding Leak Detection
Challenge
- High Cost of Distributed Fiber Optic Sensor Systems
Government Standards Related to Fiber Optic Sensors
- US
- Astm F3079-14
- Astm E1653-94
- Isa Tr12.21.01
- Canada
- Csa C22.2 No 232
- Europe
- Iec 61757-1:2012
- Iec 61757-1-1:2016
- Iec 61757-3-1: (Iec 86C/1267/Cd:2014) (Germany)
- Iec 60794-3-70
- Ul 61010-1
Case Studies
- Ap Sensing Utilized Its Distributed Acoustic System for Cable Fault Detection
- Deutsche Bahn Utilized Distributed Acoustic Sensing Unit to Monitor Cable Theft
- Public Works Authority of Qatar Utilized Linear Heat Detection Systems Equipped with DTS and DAS for Monitoring Purposes
- Sensornet Utilized Its Distributed Temperature Sensor for Temperature and Strain Monitoring Purposes
- Schlumberger Showcased Wellwatcher Briteblue Ht DTS Fiber Sensor for Monitoring Steam Flood Operating Temperature in Canada
- Schlumberger Showcased Hdvs Distributed Acoustic Sensing System for Borehole Seismic Survey in Belgium
Average Selling Price (ASP) Analysis
Industry Trends
Ecosystem/Market Map
- Material and Component Providers
- Sensor Manufacturers
- End-users
Distributed Fiber Optic Sensor Market: Supply Chain Analysis
Technology Analysis
- Quasi Distributed Sensing
- Distributed Sensing
- Interferometry
Technology Trends
- Miniaturization of Distributed Fiber Optic Sensing Cables and Sensors
Patent Analysis
Company Profiles
Key Players
- Schlumberger
- Halliburton
- Yokogawa Electric
- Weatherford International
- Luna Innovations
- Ofs
- Bandweaver
- Omnisens
- Ap Sensing
- Darkpulse
Other Key Players
- AFL
- Aragon Photonics Labs
- Corning
- Fotech
- Hifi Engineering
- Hawk Measurement
- NKT Photonics
- Optromix
- Oz Optics
- Sensornet
- Sensuron
- Silixa
- Solifos
- Viavi Solutions
- Ziebel
For more information about this report visit https://www.researchandmarkets.com/r/bezgbx
