Sarasota, FL, Feb. 24, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Distributed Temperature Sensing (DTS) Market by Operating Principle (OTDR and OFDR) by Fiber Type (Single-Mode Fiber and Multi-Mode Fiber) for Oil & Gas, Power Cable Monitoring, Fire Detection, Process & Pipeline Monitoring and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022”. According to the report, the global distributed temperature sensing market accounted for around USD 515.52 Million in 2016 and is expected to reach approximately USD 815.57 Million globally by 2022, growing at a CAGR of around 7.91% between 2017 and 2022.
The growth of distributed temperature sensing market is mainly attributed to increasing rules and regulations pertaining safety standards across the globe. In addition, increasing demand from oil & gas applications coupled with high reliability and wide coverage of distributed temperature sensing systems is foreseen to propel demand for DTS system significantly. Monitoring techniques are very helpful in harsh working conditions such as negative temperatures and extremely high temperatures in desert areas. Increasing demand for sophisticated functionalities in industrial applications and deployment of power-efficient and miniaturized sensors in various industrial applications are some of the factors estimated to favor the growth of distributed temperature sensing market. Brownfield operations have increased worldwide where older facilities and sites are used for developing a new structure is also expected to boom the market growth. However, technical difficulties may have an adverse effect on the growth of distributed temperature sensing market. Even so, increasing safety norms and supportive government policies is expected to open up massive growth opportunities for distributed temperature sensing market in the forecast period.
Browse through 42 Market Tables and 25 Figures spread through 110 Pages and in-depth TOC on “Global Distributed Temperature Sensing Market: By Type, Application, Size, Share, Analysis, Segment and Forecast 2016 – 2022”.
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OTDR operating principle segment is expected to hold largest market share and predicted to grow at the highest rate between analysis period. The growth of this segment is mainly attributed to OTDR-based DTS systems support to provide a robust measurement and are less susceptible to issues such as reflections and bends in the fiber and accessories coupled with OTDR is quite simple and is very similar to the time of flight measurement used for radar.
Single-mode fiber and multi-mode fiber is the fiber type segment of DTS market. Single-mode fiber-based DTS systems for oil & gas applications predicted to hold the highest market size between 2016 and 2022. Multi-mode fibers are also estimated to dominate the DTS market during the forecast period.
Browse the full "Distributed Temperature Sensing (DTS) Market by Operating Principle (OTDR and OFDR) by Fiber Type (Single-Mode Fiber and Multi-Mode Fiber) for Oil & Gas, Power Cable Monitoring, Fire Detection, Process & Pipeline Monitoring and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022" report at https://www.zionmarketresearch.com/report/distributed-temperature-sensing-market
Oil and gas application is predicted to hold the largest market share of global DTS market in the analysis period. DTS helps in continuous, real-time downhole monitoring to optimize the operational and economic performances of the assets. DTS Market for fire detection applications segment is estimated to grow at the highest rate during the analysis period.
Asia Pacific is a fastest growing market for distributed temperature sensing and expected to grow with highest CAGR throughout the analysis period. The growth of this market is mainly attributed to increasing demand for DTS systems for various applications such as oil & gas and power cable monitoring. In addition, the presence of major players in this region paired with increased demand for DTS systems in the power transmission sectors are the two important factors driving the market growth in Asia Pacific region. Several leading players in the global distributed temperature sensing market are expected to focus on the developing Asian countries to gain the significant market share.
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North America and European markets are mainly driven by rules and regulations pertaining to the safety standards. In 2016, U.S. held the largest market share in North America. Demand from process & pipeline monitoring applications segment will drive the growth of DTS market in North America region. High reliability and wide coverage of distributed temperature sensing systems coupled with demand for process & pipeline monitoring are expected to prompt distributed temperature sensing market in Europe. Germany is also expected to emerge as a potential country for the investor in coming years.
Latin America is expected to offer significant growth opportunities for the key manufacturer and this region is considered to be most lucrative for distributed temperature sensing market after Asia Pacific. Rising demand for fire detection coupled with increasing demand for power cable monitoring is the key growth factors expected to contribute to the growth of the distributed temperature sensing market in Latin America. Currently, Brazil holds the largest market share for distributed temperature sensing market.
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The Middle East and Africa is expected to be one of the fastest growing regional markets for distributed temperature sensing in the analysis period. The growth of this region is mainly attributed to increasing demand from oil & gas production facilities. Saudi Arabia and U.A.E. are projected to acquire significant market shares for distributed temperature sensing in the Middle East. Africa is estimated to spur the growth of distributed temperature sensing market in the forecast period.
The key noticeable players operative in global distributed temperature sensing market includes Sensornet Ltd., Yokogawa Electric Corporation, LIOS Technology GmbH , Schlumberger N.V., Halliburton Company, Bandweaver Technologies, Weatherford International PLC , Sumitomo Electric Industries Ltd., Furukawa Electric Co. and Omicron Electronics amongst others.
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The report segments global distributed temperature sensing market as follows:
Global Distributed Temperature Sensing (DTS) Market: Operating Principles Segment Analysis
- OTDR
- OFDR
Global Distributed Temperature Sensing (DTS) Market: Fiber Type Segment Analysis
- Single-Mode Fiber
- Multi-Mode Fiber
Global Distributed Temperature Sensing (DTS) Market: Application Segment Analysis
- Oil & Gas
- Power Cable Monitoring
- Fire Detection
- Process & Pipeline Monitoring
- Others Applications
Global Distributed Temperature Sensing (DTS) Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- U.K.
- France
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- The Middle East and Africa
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