Farmington, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Fiber Optic Sensor Market Is Expected To Exceed USD 7.2 Billion By 2030, Growing At A CAGR Of 11.5% during the forecast period. The technology of fiber optic sensing is used to assess chemical changes, deformation, temperature, electric and magnetic fields, pressure, displacement, rotation, radiation, liquid level, flow, light intensity, and vibration. Optical sensors are capable of linear and smooth sensing as opposed to distributed sensing; furthermore, they operate as sensors in communication applications and require no electricity for sensing operations.
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Also applicable in high-pressure, high-temperature, or corrosive situations are fiber optic sensors. In addition, these sensors support remote sensing. They are utilized extensively in the oil and gas, manufacturing, infrastructure, energy and utilities, automotive, and healthcare industries. In June 2019, Luna and Meggitt signed into a licensing deal. The purpose of the deal is to deliver fiber optic components and technology for aircraft fire and overheat detection devices.
Fiber Optic Sensors Market Recent Developments:
- In April 2020, AOMS Technologies and PCL Construction entered into a partnership to make IoT-enabled "smart buildings" a new reality. The partnership is expected to further enhance Job Site Insights (JSI) and PCLS' cloud-based build platform.
- In May 2020, Omnisens SA announced the release of ODAS, a new family of its Distributed Acoustic Sensing (DAS) interrogators that combine chirped pulsed laser technology with Omnisens' programmable chirp encoding and modulation technology.
Fiber Optic Sensors Market Segmentation Analysis:
Light energy is turned into an electrical signal by the distributed fiber optic sensor. This mechanical device can pick up signals from chemical energy like temperature, vibration, and rotation. The Fiber Optic Sensor Market is growing faster because these sensors can be used in many different ways.
The fiber optic sensor can work in higher temperatures. Because of this, the oil and gas industries need them more. Fiber optic sensors are also in demand in the power and energy industries. The Fiber Optic Sensor Market is driven by the need for these industries. The process of getting oil and gas out of the ground is done at high temperatures, so the fiber optic cable sensor is a good choice. Oil and gas are driving the market forward in a big way. The rate of civil engineering services going up is another important market driver.
Fiber Optic Sensors Market Regional Outlook:
The report forecasts revenue growth at the global, regional, and country levels from 2017 to 2030 and analyses recent industry trends in each subsegment. Germany has an 18.7% share of the distributed fiber optic sensors market in Europe in 2021. Germany is one of Europe's top military equipment buyers and manufacturers. This will allow makers of distributed fiber optic sensors greater growth potential in the military sector as well as in Germany's industrial and manufacturing sectors.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 11.5% from 2023 to 2030 |
| Revenue Forecast by 2030 | USD 7.2 Billion |
| By Types | Intensity Modulated Fiber Optic Sensors, Phase Modulated Fiber Optic Sensors, Wavelength Modulated Fiber Optic Sensors, Polarization Modulated Fiber Optic Sensors |
| By Applications | Acoustic sensing, Temperature sensing, Chemical sensing, Another level sensing |
| By verticals | Oil & Gas, Buildings and Bridges, Tunnels, Dams, Heritage structures, Power grid, Aerospace Applications |
| By Companies | Micron Optics, Honeywell, FISO Technologies, Omron, FBGS TECHNOLOGIES GMBH, Proximion, Smart Fibres Limited, Sensornet, ITF Labs / 3SPGroup, Keyence, IFOS, NORTHROP GRUMMAN, O/E LAND, Inc, KVH, Photonics Laboratories, Chiral Photonics, FBG TECH, OPTOcon G, And Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The main reason why distributed sensors are becoming more popular in this industry is to better understand the condition of structures and manage them in a more cost-effective way. In the civil engineering field, structural health monitoring is becoming more and more popular for geotechnical structures, pipelines, bridges, and dams.
Market Restraints:
Optical fibers need to be handled carefully so they don't break when they're being put in. Even though the way sensor cables are made has changed a lot, if they are not set up correctly, they may not give accurate data. Due to the high cost of installing and running fiber optics, customers may not be interested in using the technology in future projects if it fails.
Market Opportunity:
Along the length of the fiber, sensors that are spread out collect data. This gives a lot of information, so different analytical tools are used to look at the information. Data-driven decisions and strategies are becoming more and more important all over the world. This is done by finding a pattern in the data that managers can use to measure and then decode to help them make better decisions and improve performance. Distributed fiber optic sensors use light scattering to gather information about changes in temperature, strain, vibration, or pressure at any point along the length of the fiber.
Fiber Optic Sensors Market Key Segments Covered:
Top Market Players:
Micron Optics, Honeywell, FISO Technologies, Omron, FBGS TECHNOLOGIES GMBH, Proximion, Smart Fibres Limited, Sensornet, ITF Labs / 3SPGroup, Keyence, IFOS, NORTHROP GRUMMAN, O/E LAND, Inc, KVH, Photonics Laboratories, Chiral Photonics, FBG TECH, OPTOcon G, And Others.
Fiber Optic Sensors Market by Types:
- Intensity Modulated Fiber Optic Sensors
- Phase Modulated Fiber Optic Sensors
- Wavelength Modulated Fiber Optic Sensors
- Polarization Modulated Fiber Optic Sensors
Fiber Optic Sensors Market by Applications:
- Acoustic sensing
- Temperature sensing
- Chemical sensing
- Another level sensing
By verticals:
- Oil & Gas
- Buildings and Bridges
- Tunnels
- Dams
- Heritage structures
- Power grid
- Aerospace Applications
Regions and Countries Covered
- North America: (US, Canada, Mexico, and Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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