Research Nester has released a report titled “Distributed Fiber Optic Sensors Market – Global Demand Analysis & Opportunity Outlook 2027″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Distributed fiber optic sensors (DOFS), based on Brillouin, Raman and Rayleigh scattering, are majorly used for large-scale monitoring and for measuring various variables such as temperature, pressure or mechanical strain distribution in high resolution. Intrinsic sensors are fibers which acts as sensors whereas extrinsic sensors are used for transporting light from and to the actual sensor. Factors such as increasing investment in the infrastructure, growth in the manufacturing industry along with the increasing use of fiber optic sensors in the smart well which are developed to produce oil, along with depleting sources of conventional oil reserves, which is raising the need amongst several vendors and governments to indulge in the exploration and drilling activities are some of the factors anticipated that are driving the growth of the globally distributed fiber optic sensors market. Moreover, advanced characteristics of distributed fiber optic sensors is letting it replace the old conventional electronic sensors. Such factors are anticipated to drive the growth of the global distributed fiber optic sensors market
The global distributed fiber optic sensors market is anticipated to grow at a CAGR of 10.6% over the period of forecast i.e. 2020-2027 and reach a value of USD 2287.3 million by the end of 2027 from USD 845.9 million in the year 2018. The market is thriving on the back of increasing advancements in the technologies in several nations around the globe, along with rapid urbanization and growing housing and security investments. The global distributed fiber optic sensors market is segmented by application into oil & gas, geothermal energy, wind energy, aerospace, military and others. Among these segments, oil & gas segment is anticipated to hold the largest market share on the back of increasing demand for distributed fiber optics from oil and gas industry, and its wide range of application in energy, defense, industries, transportation, and security systems on the back of greater amount of capability for tolerating harsh conditions, such as high temperature. Further, the segment held the largest market share of 34.15% in the year 2018.
Geographically, the global distributed fiber optic sensors market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held the largest market share of around 35.46% in the year 2018, is anticipated to grow with a CAGR of 9.5% over the forecast period on account of high adoption rate of fiber optic sensors in the manufacturing industry and the availability of huge reserves which is resulting in an increase in the drilling activities.
However, concerns for the strict environmental regulations deployed around the world by several governmental bodies and the instability in the price observed in the oil industry are some of the factors estimated to act as a barrier to the growth of the global distributed fiber optic sensors market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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This report also studies existing competitive scenario of some of the key players of the global distributed fiber optic sensors market, which includes profiling of several players who are making various efforts to expand their business by both product mix and product line so as to meet the increased demand and achieve the desired growth of their organization.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Distributed Fiber Optic Sensors Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall distributed fiber optic sensors industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global distributed fiber optic sensors market in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”https://www.researchnester.com/sample-request-2376
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