According to a report from Persistence Market Research, an escalating need for distributed acoustic sensing in gas and non-oil verticals has led to a surge in adoption over the coming years. In addition, attributed to various improvisations and developments, the distributed acoustic sensing will increasingly witness an upsurge in demand for the distributed acoustic sensing in the global market in the coming years. The global distributed acoustic sensing market is expected to witness a growth of 20.2% CAGR over the forecast period, 2017-2025.
Market Dynamics
Surge in demand for corresponding development of rough technology related to optical fiber and sensing harsh environment has led to an upsurge in demand for the distributed acoustic sensing market globally in the coming years. Moreover, such developments in terms of demand has significantly benefitted the oil and gas industry over the coming years. In addition, various benefits attributed to the sensing systems including drilling, exploration, production, completion and management of reservoir will further contribute towards growth of the distributed acoustic sensing market significantly over the coming years.
However, due to dip in oil prices over the past three years has adversely impacted adoption of distributed acoustic sensing market globally. Such factors are likely to impact growth of the global market in the coming years. Moreover, decline in prices of oil is mainly attributed to slow demand for oil among consumers in parallel with exceeding supply by leading petroleum companies and surge in oil production over the coming years.
Segmentation Analysis
Oilfield among other services will represent the most attractive application segment in the distributed acoustic sensing market globally in the coming years. Pipeline management among various applications is likely to witness a moderate growth over the coming years. Furthermore, surge in adoption of distributed acoustic sensing market in railways sector globally is further likely to contribute towards growth of the global distributed acoustic sensing market in the span of next eight years.
Regional Analysis
MEA among various regions will represent the largest market for distributed acoustic sensing market over the coming years. In addition, the distributed acoustic sensing market in MEA will hold a revenue share of 38.1% in 2017. Whereas, North America among other regions will represent the second largest market for distributed acoustic sensors globally. U.S will retain dominance in terms of demand for distributed acoustic sensing market globally in the coming years. Moreover, the distributed acoustic sensing market will hold a revenue share of 75% over the coming years.
Market Players
Leading market players operating in the global distributed acoustic sensing market include Schlumberger Limited, Halliburton Co., Baker Hughes Incorporated, Optasense, Fotech Solutions Ltd., Future Fibre Technologies, Bandweaver, Silixa Ltd., Hifi Engineering Inc., and Omnisens SA.
For a sampe of the report, visit http://www.persistencemarketresearch.com/samples/12673