Jersey City, New Jersey, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Distributed Fiber Optic Sensor Market” By Technology (Rayleigh Effect, Brillouin Scattering, Raman Effect, And Others), By Vertical (Oil & Gas, Power & Utility, Industrial, Civil Engineering, And Others), and By Geography. According to Verified Market Research, the Global Distributed Fiber Optic Sensor Market size was valued at USD 815.78 Million in 2020 and is projected to reach USD 1,706.32 Million by 2028, growing at a CAGR of 9.66% from 2021 to 2028.
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202 - Pages
126 – Tables
37 – Figures
Global Distributed Fiber Optic Sensor Market Overview
The oil and gas industry is undergoing rapid digitization and automation to fulfill the rising need for productivity, efficiency, and safety in operations. The industry is expected to be driven by the increase in offshore drilling activities. This, coupled with high investment done to explore new reserves for oil and gas, would drive the offshore oil and gas industry. However, environmental concern has been the biggest challenge for the expansion of the offshore industry.
The use of DFOS in the civil engineering vertical has been continuously increasing, primarily for structural health monitoring. The main objective behind the increasing penetration of distributed sensors in the civil engineering vertical is to understand better the structural condition and economically efficient management of infrastructure. Geotechnical structures, pipelines, bridges, and dams are the primary areas where structural health monitoring in the civil engineering industry is increasing.
The price of a distributed fiber optic sensor system can be very high, which is still not affordable for every company regaining real-time monitoring and sensing. Additionally, these systems' installation and maintenance are expensive. The high-cost factor associated with distributed fiber optic sensors and the slow economic development of some significant markets such as APAC might hinder the future growth of the globally distributed fiber optic sensor market. Increasing safety standards, supportive government frameworks & policies, and rising demand for data-based analysis are opening lucrative opportunities for the key market players.
Key Developments in Distributed Fiber Optic Sensor Market
• In February 2020, OFS Fitel, LLC, an American technology company known for designing and manufacturing fiber optic solutions, introduced its new product, the AcoustiSens wideband single-mode vibration sensor fiber, designed to improve DAS systems functionality.
• In August 2021, an electronics manufacturer, AP sensing, launched the fifth generation Distributed Acoustic Sensing (DAS) system with 2p squared technology. With the launch of this new DAS, AP Sensing makes strides in asset monitoring technology with a design that, unlike traditional point sensors, provides gapless monitoring of valuable infrastructures such as pipelines, power cables, and railways.
The major players in the market are Yokogawa Electric Corp., Schlumberger Ltd., OFS Fitel, LLC, Halliburton, Qinetiq Group PLC, Luna Innovations, Inc., Omnisens SA, AP Sensing GmbH, Brugg Kable AG, and Baker Hughes, Inc.
Verified Market Research has segmented the Global Distributed Fiber Optic Sensor Market On the basis of Technology, Application, and Geography.
- Distributed Fiber Optic Sensor Market, By Technology
- Rayleigh Effect
- Brillouin Scattering
- Raman Effect
- Others
- Distributed Fiber Optic Sensor Market, By Application
- Oil & Gas
- Power & Utility
- Industrial
- Civil Engineering
- Others
- Distributed Fiber Optic Sensor Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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