According to a report issued by the Photonic Sensor Consortium and published by Information Gatekeepers, the distributed fiber optic sensor market stood at $651 million in 2014 with 49% associated the oil and gas market segment. The overall market contracted through 2016 due to the fall in oil prices. Modest recovery occurred in 2017 until late 2018. Then another oil price drop has impacted the market. By 2023, the forecast shows the oil and gas market segment will increase in value, but due to growth in other segments, it will decrease to 19% of the distributed fiber optic sensor market.
Exhibiting very modest growth, the researchers say the total distributed fiber optic sensor market is projected to be $821 million in 2021 reaching $1,033 million in 2023. The point sensor market is dominated by the fiber optic gyroscope market segment which is very depend upon government spending. From 2013-2015 reductions in government spending impacted the market. From 2016, an up-turn in government spending has had a positive effect on growth. As fiber optic sensors become more cost effective and technology advances, the industrial and medical markets will expand for point fiber optic sensors.
The combined distributed and single point fiber optic sensor markets are projected to be over $1.3 billion in 2023 according to an updated and expanded market survey report conducted by the Photonic Sensor Consortium and published by Information Gatekeepers.
The expanded report provides much greater detail for how the market is forecasted for specific technologies. Data is provided in graphic and tabular formats. The market is broken down for DTS, Bragg grating, DAS, interferometric and Brillouin scattering technologies in relation to the various market segment applications (oil and gas, military, homeland security, smart structures, etc.). In addition, the three dominant technologies (DTS, DAS and Bragg gratings) show relative market share by the major suppliers.
Companies are profiled in the report include AP Sensing, Baker Hughes, CGGVeritas, 4DSP, FAZ Technologies, FBGS, Fiber SenSys, Fibersonics, FISO, Technologie, Fotech, Halliburton, IFOS, Intelligent Optical Systems, IXBlue, LIOS Technology, Luna, Micron Optics, Moog (Insensys), Northrop Grumman, NP Photonics, Opsens, Optasense (QinetiQ), Optiphase, OZ Optics, Petrospec Engineering, PGS, QinetiQ, Schlumberger, Sensornet, Silixa, Smartec (Roctest Group), Smart Fibre, TGS, Weatherford, Welldog, US Seismic Systems, Inc. (USSI), and Zeibel.
For more information on the report, visit Information Gatekeepers.