888-776-0942 from 8 AM - 10 PM ET
SAN FRANCISCO , May 10, 2022 /PRNewswire/ -- The global distributed fiber optic sensor market size is expected to reach USD 2,533.5 million by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.3% from 2022 to 2030.
Key Insights & Findings from the report:
Read 154-page market research report, "Distributed Fiber Optic Sensor Market Size, Share & Trends Analysis Report By Application, By Technology, By Vertical (Oil & Gas, Power And Utility, Safety And Security), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Distributed Fiber Optic Sensor Market Growth & Trends
The distributed fiber optic sensors (DFOS) market is expected to grow exponentially over the forecast period globally. Factors such as significant demand from the civil engineering vertical and rising adoption in the oil & gas sector substantially boost the adoption of distributed fiber optic sensors. 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, its capability to work in a challenging environment is another factor propelling the market growth.
Increasing demand for sophisticated infrastructure and rising per capita income are predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Various governments are focusing on conserving their prevailing infrastructure and developing new ones. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabled increased spending on projects such as roads, railways, and dams. This rapid growth in the advanced civil engineering vertical is expected to boost the distributed fiber optic sensing market.
The rapid acceptance of DFOS has promoted manufacturers and suppliers to increase R&D expenditure to offer better products to their customers. Service providers are trying to regulate efficiencies and optimize their production process to capture maximum market share and eliminate all other substitutes of the fiber optics technology. The high production & installation price of DFOS products is promoting manufacturers to develop more competitively priced and reliable optic inspection products. Technological complexities, along with other challenges raise the price of deploying fiber optics which further hamper market growth opportunities.
Distributed Fiber Optic Sensor Market Segmentation
For the purpose of this report, Grand View Research has segmented the distributed fiber optic sensor market based on application, technology, vertical, and region:
Distributed Fiber Optic Sensor Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
Distributed Fiber Optic Sensor Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)
Distributed Fiber Optic Sensor Market - Vertical Outlook (Revenue, USD Million, 2017 - 2030)
Distributed Fiber Optic Sensor Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in the Distributed Fiber Optic Sensor Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Sensors & Controls Industry Research Reports.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Web: https://www.grandviewresearch.com Grand View Compass | Grand View Pipeline Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET