Market Research Report
Distributed Fiber Optic Sensor Market Size, Share & Trends Analysis Report By Application, By Technology, By Vertical (Oil & Gas, Power & Utility, Safety & Security), By Region, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||502254|
|Published||Content info||101 Pages
Delivery time: 2-3 business days
|Distributed Fiber Optic Sensor Market Size, Share & Trends Analysis Report By Application, By Technology, By Vertical (Oil & Gas, Power & Utility, Safety & Security), By Region, And Segment Forecasts, 2019 - 2025|
|Published: December 3, 2019||Content info: 101 Pages||
The global distributed fiber optic sensor market size is anticipated to reach USD 1.87 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2019 to 2025. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil and gas sector are projected to substantially boost the market growth. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, the capability of Distributed Fiber Optic Sensors (DFOS) to work in challenging environment is another factor propelling the growth.
Increasing demand for sophisticated infrastructure coupled with rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Governments from around the world focus on conserving their existing infrastructure and developing new projects. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on road, railway, and dam construction projects. This rapid growth in the advanced civil engineering is expected to boost the distributed fiber optic sensor market.
The rapid adoption of DFOS has encouraged investments in R&D activities by manufacturers and suppliers to launch new products. They are also focusing on optimizing their production process and regulating efficiency to curb all other alternatives of the fiber optics technology. Due to the high price of production and installation processes of DFOS products, the manufacturers are developing competitively priced optic inspection products that are more reliable. However, factors such as technological complexities and other challenges incurring in optical inspection process are hampering the market growth.