by Johnson Paul Credence Turbine
According to a new market research report published by Credence Research, “Distributed Fiber Optic Sensor Market – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the distributed fiber optic sensor market was valued at US$ 1,027.3 Mn in the year 2018 and expected to reach US$ 2,698.2 Mn by the year 2027, expanding at a CAGR of 11.4% during the forecast from 2019 to 2027.
“Increasing Demand for advanced sensors expected to spur the Distributed Fiber Optic Sensors demand over the Forecast Period”
Flourishing demand for advanced sensing capability in various industry verticals to monitor real-time events has open numerous opportunities for the market players in sensor technology to develop and innovate next-generation sensors. Distributed fiber optic sensor is a dynamic approach that uses laser light backscattering along with an optical fiber strand to measure the surrounding environmental properties. The optical fibers used in DFOS application is a thin silica glass strands that transmit data over long distance with minimal loss.
The global distributed fiber optic sensor market witness substantial growth during the forecast period owing to on-going advancements in the fiber optic sensing technology to upgrade the early risk detection technology and long-term monitoring. In addition, increasing investment in distributed sensing has also gained a significant pace after its alarming adoption rate in the civil and automotive industry.
The global distributed fiber optic sensor market expected to be highly competitive in the coming years owing to increasing investment in new product launch, development, and regional expansion. The market players also believe in collaboration and partnership agreement to gain access to multiple patents on distributed fiber optic sensor domain to enhance their product and service portfolio.