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The global Fiber Optic Sensors Market size is projected to increase by USD 1.32 billion, at a CAGR of 8.78% between 2023 and 2028. The growth rate of the market depends on several factors, including the high deployment of fiber optic sensors in applications involving high temperatures, surging demand for fiber optic sensors in the infrastructure sector, the need for enhanced safety, and the emergence of new refinery projects. Fiber optic sensors are a detecting element in fiber-based devices that are used to detect certain quantities such as mechanical strain or temperature, concentrations of chemical species, acceleration, rotations, pressure, vibrations, and displacements. These sensors are available in small sizes and work without the need for electrical power. These sensors are widely used in different end-user industries such as oil and gas, infrastructure, and utilities. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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The market share growth by the oil and gas segment will be significant during the forecast period. The oil and gas segment includes the sales of these sensors to the owners of oil and gas firms to monitor and track their fields and pipelines. The use of effective monitoring applications, which are integrated with these sensors, can improve the efficiency of oil and gas production and transportation systems. Therefore, it is estimated that the adoption of these monitoring systems will grow during the forecast period, which will fuel the demand.
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The oil and gas segment was the largest and was valued at USD 467.68 million in 2018. Moreover, various measures have been taken by governments of several countries across the world to increase their oil and gas production. For instance, in June 2020, the Russian government adopted The Energy Strategy of Russia up to 2035, which replaced the 2009 strategy for energy development up to 2030. Through this strategy, the government aims to maintain and strengthen Russia's role in the global energy sector and achieve growth in the use of liquified natural gas and gas engine fuel. In India, the Ministry of Petroleum and Natural Gas approved oil and gas projects worth approximately USD 13.51 billion for Northeast India in September 2021. These projects are expected to be completed by 2025. All such developments are expected to increase the deployment in the power and energy segment, which, in turn, is anticipated to drive the growth of the market in focus during the forecast period.
Intrinsic sensors segment dominated the market in focus by type in 2023. It is expected to maintain its dominance during the forecast period. Under this type of fiber optic sensor, the sensing application mainly occurs within the optical fiber itself. These sensors are used as sensors for proximity, damage detection by fiber break, and monitoring the curing of composite materials. Moreover, growing investment in the power and energy sector and the growing construction and infrastructure sector globally are expected to increase the adoption of intrinsic sensors for pressure and strain monitoring, which, in turn, is anticipated to drive the growth of intrinsic sensors or active sensors segment of the market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecast, detailing the regional market trends and analysis along with drivers influencing the market's trajectory throughout the forecast period. The North American market is expected to grow during the forecast period mainly because of the high adoption of these sensors by the end-user industries in this region. These sensors leverage optical fibers and remote sensing systems to allow real-time readings of temperatures and strain on fiber optic lines. The primary reason for the high market share of the region is the high adoption rate in manufacturing, oil and gas, and utility industries.
In addition, the availability of huge oil and gas reserves and the advances in technologies for offshore oil and gas extraction have increased exploration and drilling activities in North America. North America is the second-largest consumer of crude oil in the world. Hence, the demand in the region is constantly increasing. This is fueling the growth of the regional market during the forecast period.
This market experiences rapid growth driven by advancements in technology and innovative applications across various industries such as healthcare, automotive, aerospace, oil, gas, power, infrastructure, manufacturing, and telecommunications. They provide precise monitoring of temperature, pressure, and vibration, enabling real-time data analysis and communication for enhanced safety and efficiency in critical operations
Market growth is driven significantly by the widespread adoption of fiber optic sensors in various industries such as healthcare, automotive, aerospace, oil, gas, power, infrastructure, manufacturing, and telecommunications. These sensors, known for their advanced optical technology, play a crucial role in real-time monitoring applications across diverse sectors.
From ensuring precision in medical diagnostics to enhancing safety in automotive and aerospace engineering, and optimizing operational efficiency in energy and telecommunications infrastructure, fiber optic sensors are at the forefront of innovation. Their versatility and reliability make them indispensable in modern industries where real-time data collection and analysis are paramount for success.
Increasing adoption of traditional strategies by market companies is an emerging trend shaping market growth. companies are engaged in new product launches and acquisitions with market players, including end-users. New product development and acquisitions help companies geographically expand and enable them to gain access to technological expertise. Also, acquisitions would allow companies to explore potential markets and generate revenue from a wider customer base. The acquisition further propels Lunas position in the market, adding capabilities in distributed acoustic sensing, distributed temperature sensing, and distributed strain sensing that offer enhanced performance for applications in energy, natural environments, mining, and defense.
Similarly, in June 2021, NEC Corp. announced the launch of an artificial intelligence-based intelligent optical fiber sensing solution for end-users to utilize optical fiber as a sensor. The increasing number of product launches, acquisitions, and collaborations between market participants is expected to have a positive impact on the growth of the market during the forecast period.
Technical issues in the installation of fiber optic sensors are a significant challenge hindering market growth. When installing, the optical fibers must be handled cautiously to prevent breakage. Although the design of sensor cables has greatly improved, improper cable deployment can fail to obtain accurate data. Such failures may cause clients to disregard the technology in upcoming projects because of the installation and operational demand of expensive inputs.
However, since there is always a risk associated with the deployment of the cable, any negligence in the deployment or installation of the optical fibers could have an impact on the readings that the sensor records and cause it to work improperly. This, in turn, would restrain the growth rate of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bandweaver - The company offers fiber optic sensors such as FireLaser DTS and T Laser DTS fiber optic temperature sensors.
Banner Engineering Corp. - The company offers fiber optic sensors such as DF G3 series long range fiber optic amplifiers, and DF G1 Series general purpose fiber optic amplifier for the detection of extraneous light sources available.
Baumer Holding AG - The company offers fiber optic sensors such as FVDK 10N5101, FVDK 10N5101 S35A, FVDK 10N66Y0, and FVDK 10N66YM plastic fiber optic sensors.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Global Fiber Optic Sensors Market is witnessing exponential growth, driven by technological advancements in fiber optic pressure sensors, fiber-optic amplifiers, and digital LEDs. These sensors leverage micro-fabrication technologies to enhance sensor performance, functionality, and reliability, making them indispensable in various sectors like biomedical instrumentation, automobile power, and oil and gas exploration. With capabilities for measuring physical, chemical, and biochemical parameters, they offer easy deployment, high stability, and resistance to adverse conditions, including EMI and RFI. Moreover, their lightweight, low-profile design and multiplexing abilities make them ideal for applications in healthcare, telecommunications, and consumer electronics, contributing to the growth of the global distributed fiber and optical detector markets.
The market is propelled by technological advancements such as fiber-optic plasmonic sensors and plasmon-based sensing, enhancing sensor functionality and reliability. These sensors excel in acceleration measurement and pressure measurement, crucial in sectors like the oil and gas industry, including downhole conditions and oil and gas wells, where they withstand hostile environments due to their corrosion-resistant and low-profile design. Additionally, their immunity to EMI and RFI makes them suitable for security applications. Despite being cost-effective, they provide precise measuring tools for biomedical and biomechanical applications, contributing to the global optical detector market's growth while ensuring accurate data collection in various studies and research.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028
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Fiber Optic Sensors Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.78% |
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Market Growth 2024-2028 |
USD 1,318.64 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.9 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 36% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AP Sensing GmbH, Aragon Photonics Labs. S.L.U., Bandweaver, Banner Engineering Corp., Baumer Holding AG, Coherent Inc., FBGS Technologies GmbH, Honeywell International Inc., Hottinger Bruel and Kjaer GmbH, ifm electronic gmbh, Keyence Corp., Luna Innovations Inc., Northrop Grumman Corp., OMRON Corp., Prysmian Spa, Resonetics, Rockwell Automation Inc., Sensuron LLC, SICK AG, and Yokogawa Electric Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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