SEATTLE, May 27, 2020 (GLOBE NEWSWIRE) -- Distributed acoustic sensing (DAS) systems make use of fiber optic cables, in order to provide distributed strain sensing. The working of DAS is based on Rayleigh scattering and is used to effectively turn optic fiber into a series of virtual microphones. The oil & gas industry is one of the prominent sectors to adopt the DAS system and is used for monitoring of pipelines and wells, highways, borders, and railroads. Moreover, this system is used to monitor the efficiency of hydraulic fracturing for production flow monitoring.
The global distributed acoustic sensing (DAS) market is estimated to account for US$ 624.3 Mn in 2019 and is expected to grow at a CAGR of 22.0% over the forecasted period 2020-27.
Market Drivers
- Increasing importance of border surveillance is expected to accelerate growth of the global distributed acoustic sensing (DAS) market during the forecast the period
Border surveillance has become vital in various countries. This is owing to rising need for real-time intrusion detection and monitoring. DAS system can reliably detect a number of border threats with very few nuisance alarms. Moreover, it can work in conjunction with existing border surveillance technologies, in order to offer insightful information to security personnel for fighting trans-border crime. It has also been proven to be effective in monitoring long borders, covering up 1,500 km with single central monitoring station. Thus, these factors are expected to accelerate growth of the global distributed acoustic sensing (DAS) market in the near future.
- Enhanced ability to function in harsh environment is expected to boost the global distributed acoustic (DAS) market growth over the forecast period
One of the major advantages offered by DAS system is the ability to function properly in harsh environment. Optic fibers can operate in high temperatures and adverse environments over large distances. As a result of this, it has been used in oil well monitoring applications wherein it offers real-time information on the state of the well, which is to be maintained. Hence, these factors are expected to boost the market growth over the forecast period.
Market Opportunity
- Increasing oil & gas exploration activities to present excellent opportunities
- Rising partnership and collaboration activities among major market players can offer significant opportunities
Market Restraint:
Technical challenges associated with fiber cable deployment are expected to restrict growth of the global distributed acoustic sensing (DAS) market during the forecast period.
Request for Sample copy @ https://www.coherentmarketinsights.com/insight/request-sample/3366
Key Takeaways
- Middle East & Africa holds the dominant position in the global distributed acoustic sensing (DAS) market and is expected to witness significant growth over the forecast period 2020-27. This is owing to increasing demand of distributed acoustic sensing (DAS) devices in the oil and gas industry. Increasing demand of oil and gas across the globe led to the increase in oil & gas exploration activities. Middle East region is leading contributor in the oil and gas industry. According to BP plc., a UK based oil industry company, Middle East energy production is increased 36% where as natural gas production increased more than 60% and oil contributing more than 17%. Thus, increasing oil and gas production in the Middle East region expected to drive the global distributed acoustic sensing (DAS) market in the forecast period.
- Among application segment, Pipeline Management, segment expected to create a lucrative opportunity for global distributed acoustic sensing (DAS) market as pipeline management is an important application for oil and gas industry. Pipeline management is used for monitoring, and the detecting leakage of long rang pipeline used for oil and gas plant. Furthermore, Pipeline management also can be used to monitor third party activity which may damage the pipelines.
Competitive Section:
Major companies involved in the global distributed acoustic sensing (DAS) market are Fotech Solutions Ltd, Halliburton Co., Qintiq Group PLC, Hifi Engineering Inc., Baker Hughes, Inc., Silixa Ltd., Future Fibre Technologies Ltd., Schlumberger Limited, Omnisens SA, and Banweaver.
Key Developments:
- Major companies in the market are involved in product development, in order to strengthen market position. For instance, in February 2019, Silixa Ltd. introduced Carina XwellXpress, low-frequency strain, and microseismic monitoring service.
- Key players are involved in agreements and contracts, in order to enhance the market presence. For instance, in February 2017, Future Fibre Technologies signed a distribution agreement with Minipa, which is a leading distributor in South America.
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/3366
Market Segmentation:
- By Application
- Oilfield Services
- Pipeline Management
- Security & Surveillance
- Transport
- By Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)