Future Market Insights’ report titled “Distributed Fibre Optic Sensor Market: Global Industry Analysis & Opportunity Assessment 2016-2026” indicates that the fibre optic sensor market was valued at $1.1 Billion in 2015 and is expected to register a CAGR of 10.4% from 2016 to 2026. As per the research firm, increasing adoption in the oil and gas industry and investments in infrastructure are factors driving growth. Additionally, government initiatives to deploy fibre optic sensors in various construction projects is propelling significant growth.
- Market is segmented on the basis of Technology (Rayleigh Scattering Based Distributed Sensor, Brillouin Scattering Based Sensor, Raman Scattering Based Sensor, Interferometric Distributed Optical-Fibre Sensor, Distributed Fibre Bragg Grating Sensor); Application (Strain Sensing, Temperature Sensing, Acoustic/Vibration Sensing, Pressure Sensing, Others (Moisture Detection)); and Vertical (Oil & Gas, Security, Energy & Utility, Transportation Infrastructure, Industrial Application, Others (Environment & Geotechnics, Healthcare, etc.)).
- Raman Scattering Based Sensor technology segment accounted for 33.3% market share of the global distributed fibre optic sensor market in 2015. The Rayleigh Scattering Based Distributed Sensor segment is anticipated to register a CAGR of 12.1% during the forecast period
- Temperature Sensing application segment accounted for the highest market share in 2015 and was valued at US$ 518.2 Mn in 2015. The Acoustic/Vibration Sensing segment is expected to register a healthy CAGR of 12.2% during the forecast period
- The Oil & Gas vertical segment accounted for the highest market share in 2015, occupying 60.9% share of the global distributed fibre optic sensor market in 2015
- Distributed fibre optic sensor market is segmented into the seven key regions: North America, Latin America, Middle East & Africa, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, and Japan.
- North America market is estimated to account for the largest market share of 30.9% of the global distributed fibre optic sensor market in 2016 and is anticipated to continue its dominance throughout the forecast period.
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