PUBLISHER: Allied Market Research | PRODUCT CODE: 1097643
PUBLISHER: Allied Market Research | PRODUCT CODE: 1097643
The global distributed temperature sensing market was valued at $734.0 million in 2020, and is projected to reach $1196.5 million by 2030, registering a CAGR of 7.8% from 2021 to 2030. Distributed temperature sensing uses a fiber optic cables sensor, which is often several kilometers long and operates as a linear temperature sensor.
The growth of the global distributed temperature sensing market is majorly driven by increase in rules and regulations pertaining to safety standards paired with rise in demand for distributed temperature sensing solution in oil & gas applications. Moreover, a wide range of applications are anticipated to drive the growth of distributed temperature sensing market. However, complex fault detection and troubleshooting process acts as a prime restraint for the growth of the global distributed temperature sensing market. On the contrary, growing investment in smart grid technology is anticipated to provide lucrative opportunities for the distributed temperature sensing market during the forecast period.
The distributed temperature sensing market is segmented on the basis of fiber type, operating principle, applications, and region. The fiber type segment includes single-mode fiber and multimode fiber. The single-mode fiber segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. By operating principle, the market is segmented into optical time domain reflectometry and optical frequency domain reflectometry. The optical time domain reflectometry segment dominated the market in 2020 and is anticipated to drive the market in coming years. By application, it is classified into oil & gas, power cable monitoring, pipeline surveillance, fire detection, environmental monitoring. The oil & gas segment acquired the largest share in 2020, and the BFSI segment is expected to grow at a high CAGR from 2021 to 2030. Region-wise, the distributed temperature sensing market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of the Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include, Halliburton Co., Furukawa Electric Co., Ltd., OFS Fitel LLC, Luna Innovations, Schlumberger N.V, Prysmian Group, Weatherford International PLC, Sumitomo Electric Industries Ltd., Bandweaver Technologies, and Yokogawa Electric Corporation.
Key Benefits For Stakeholders
By Fiber Type
By Operating Principle
By Application
By Region