Global Fiber Optic Sensors Market Report 2021-2026 - Startups Venture into Development of Promising Optical Fiber Sensor Technologies

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Feb 02, 2022, 11:30 ET

DUBLIN, Feb. 2, 2022 /PRNewswire/ -- The "Fiber Optic Sensors - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Fiber Optic Sensors Market to Reach US$4.4 Billion by the Year 2026

Amid the COVID-19 crisis, the global market for Fiber Optic Sensors estimated at US$2.7 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 8.6% over the analysis period.

Demand is expected to become more intense in the following years, particularly for applications in extreme environmental conditions in which electrical sensors fail to function as effectively. Examples of such applications include the oil & gas and manufacturing sectors.

Another major driving factor is increase in the exploration of unconventional energy resources across the world. Deployment of ultra-miniaturized and power-efficient sensors is predicted to contribute significantly to market growth. The market is also driven by applications such as crack monitoring in concrete-based structures.

The preference for fiber optic sensors in these applications is due to their capability to identify cracks and damages in concrete structures, which is not possible with many of the existing monitoring technologies.

Fiber optic sensors present potential for faster and efficient means for identifying structural damages in civil constructions and aircrafts, detecting intrusion in secured premises and identifying presence of oil in oil reservoirs, and therefore has and will continue to remain in focus of global R&D and commercialization efforts in these segments.

Intrinsic, one of the segments analyzed in the report, is projected to grow at a 9.1% CAGR to reach US$3.5 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Extrinsic segment is readjusted to a revised 7.2% CAGR for the next 7-year period.

This segment currently accounts for a 31.4% share of the global Fiber Optic Sensors market. Extrinsic sensors employ the fiber for guiding the light to the sensing region, the point at which the optical signal exits the waveguide and modulates into another medium. In contrast, in intrinsic sensors, the light continues to reside within the waveguide and measures the optical signal's impacts while moving down the fiber.

The U.S. Market is Estimated at $746.8 Million in 2021, While China is Forecast to Reach $539.5 Million by 2026

The Fiber Optic Sensors market in the U.S. is estimated at US$746.8 Million in the year 2021. The country currently accounts for a 25.99% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$539.5 Million in the year 2026 trailing a CAGR of 10.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR while Rest of European market (as defined in the study) will reach US$605.3 Million by the end of the analysis period.

The utilization of distributed fiber optic sensors in North America's oil wells is enabling growth in the region. Growth in Asia-Pacific will primarily be driven by increased uptake of aviation in nations such as Thailand, Malaysia, Australia, New Zealand, Indonesia, Singapore, China and India.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of the Pandemic on Fiber Optic Sensors
Optical Fiber Sensors Exude Great Diagnostics Potential in Fight against COVID-19
Fiber Optic Sensors: A Prelude
Extrinsic and Intrinsic FOS
Types of Fiber Optic Sensors by Category
Market Evolution over the Years
Distributed Fiber Optic Sensors: A High Growth market
Market Outlook
Recent Market Activity
World Brands

2. FOCUS ON SELECT PLAYERS (Total 173 Featured)

Avantes B.V.
Baumer Group
Davidson Instruments, Inc.
EXFO Inc.
FISO Technologies Inc.
Halliburton
Honeywell International Inc.
Intelligent Fiber Optics Systems Corp.
Keysight Technologies, Inc.
KVH Industries, Inc.
LUNA Innovations Incorporated
Northrop Grumman Corporation
O/E LAND Inc.
Ocean Optics, Inc.
Optrand, Inc.
Prime Photonics LC
Roctest Ltd.
Schlumberger Limited
Sensornet Ltd.
Sensuron
Weatherford International Ltd.
Ziebel AS

3. MARKET TRENDS & DRIVERS

Rising Investments in Smart City Projects Augur Well for Market Growth
High Demand Anticipated for 5G Optical Sensing Technologies
Fiber Optic Sensors Augment AI-Based Analysis
Fiber Optic Sensors Seek Role in Industry 4.0 Environments
Progressive Developments to Spur Fiber Optic Sensors Market
Startups Venture into Development of Promising Optical Fiber Sensor Technologies
Aviation Technology Displays Striking Leap Forward with Fiber Optic Sensors
Deep Dive into Primary Applications of Fiber Optic Sensors in Aerospace Industry
Downturn in Aerospace Industry Impacts Demand
Increasing Focus on Guidance and Control of Munitions Drive Applications in Defense Sector
A Review of Military and Defense Spending in Select Countries Amid the Pandemic
Defense Spending Trends Set Demand Dynamics for Military Electro Optics and Infrared Systems
Unmanned Aerial Vehicles: Market Opportunity with Significant Potential
Fiber Optic Sensing Systems Advantageous for Space Applications
Fiber Optic Sensing Holds Bright Future in Oil & Gas Industry with Diverse Applications
Distributed Fiber Optic Sensing for Kick Detection
Amidst the COVID-19 Outbreak, Oil & Gas Sector Confronts Challenging Times
Increasing IoT Adoption in Oil and Gas Industry Widens Opportunities
Pipeline Monitoring: A Growing Application
DAS Finds Increasing Adoption
Structural Health Monitoring in Smart Structures Builds Opportunities for FOS in Civil Engineering Sector
Resurgence in Infrastructure Investments to Boost Demand for Fiber Optic Sensing for Enhanced Efficiency in Infrastructure Monitoring
Industrial Sector Offers Wide Opportunities
Telecom Sector: The Traditional End-Use Application Area
VR Ecosystem Emerges as Key Sphere for Implementation of Fiber Optic Sensors
FO-DTS Finds Use in Environmental Applications
Revival in the Automotive Industry to Sustain Demand for Fiber Optic Sensors
Electric Vehicles Present Significant Scope for Implementation of Fiber Optic Sensors
FOG-based IMUs to Make Big Gains in Autonomous Vehicles Vertical
Energy Sector: A Growing End-Use Opportunity
Fiber Optic Sensors Gain Demand as the World Increasingly Harnesses the Power of Wind
Bio Medical Applications Offer Significant Opportunities
Fiber Optic Sensors Re-Envisioning Healthcare Domain by Aiding Minimally-Invasive Procedures
Wearable Sensors for Health Monitoring Attain Next Level with Fiber Optic Sensors
Fiber Optic Sensors for Health Monitoring
R&D Geared towards Product Innovation: Key for Constant Growth
Fraunhofer IPT Offers High-end Fiber Optic Sensors for Automotive Engineering, Medical and Microsystems Technology Fields
Gallium Arsenide Fiber Optic Temperature Sensors for MRI Scanning Application from Rugged Monitoring
Optical Fiber Sensing Built on EWA
Reducing Costs: A Priority for Sensor Manufacturers

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/i10651

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