The new report by Expert Market Research titled, ‘Global High Speed Fibre Optic Sensor Market Growth, Size, Trend, Share, Report and Forecast 2022-2027’, gives an in-depth analysis of the global high speed fibre optic sensor market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 12.1%
The development of high-speed, high-capacity communications for 5G has enhanced the relevance of optical fibre in recent years. As a result, fibre is becoming more widely used. Solutions and systems that assist effective fibre maintenance and management are projected to see increased demand, boosting the market growth. The growing adoption of distributed sensors in various applications, such as structural health monitoring, pipeline monitoring, border monitoring, and control, coupled with rapid digitisation and automation, to meet the rising need for productivity, efficiency, and safety in various processes, are driving the growth of the high-speed fibre optic sensor market. Furthermore, the increasing use of high-speed fibre optic sensors in the oil and gas, infrastructure, and safety and security verticals would fuel the demand for the product.
Industry Definition and Major Segments
Temperature, displacement, strain, electric currents, magnetic fields, pressure, and a variety of other material and environmental variables are all measured by optical fibre sensors. Optical fibre sensing allows for continuous measurements of strain and temperature gradients, pressure, multi-directional force, curvature, and shape information, rather than discrete observations.
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Based on type, the market is classified into:
• Point FOS
• Distributed FOS
By application, the market is segmented into:
• Civil Engineering
• Energy and Utility
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The distributed fibre optic sensor (DFOS) segment is expected to witness significant growth. Quick pace of innovations and the introduction of new DFOS have led to increased investments in research and development by manufacturers and suppliers. The continuously increasing population and growing government activities in countries such as India and China have led to the surging consumption of oil and natural gas, thereby propelling the market growth.
Due to increased investment and research initiatives for developing optical sensor technologies, the market is expected to rise at a significant rate. The growing demand for a cost-effective and energy-efficient monitoring system is expected to drive market expansion. Furthermore, increased awareness of distributed fibre optic sensors (DFOS) in emerging nations is likely to boost the market growth.
Key Market Players
The major players in the market are Rockwell Automation, LUNA, Proximion AB, HBM FiberSensing, ITF Technologies Inc, NKT Photonics, and FISO Technologies, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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