At a CAGR of 9.7%, the Distributed Fiber Optic Sensor Market Size is anticipated to increase from USD 0.9 billion in 2021 to USD 1.5 billion by 2026. The demand for this market is likely increase in the near future as a result of the increasing deployment of distributed fibre optic sensors in the infrastructure, safety, and security, oil and gas, and other verticals. The market for distributed fibre optic sensors is expanding due to the quick digitization and automation taking place to meet the growing demand for productivity, efficiency, and safety in various processes as well as the expanding adoption of distributed sensors in applications like pipeline monitoring, structural health monitoring, border monitoring, and control.
In 2020, the market has shrunk, primarily as a result of COVID-19. The distributed fibre optic sensor market was impacted in 2020 by the lockdown enforced by various governments and workforce shortages in certain industries as a result of travel restrictions. Even if the market suffered in 2020, a full recovery is anticipated by 2021.
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According to estimates, the fastest-growing application category in the aforementioned market over the forecast period will be strain sensing.
The market for distributed fibre optic strain sensors is anticipated to expand at the greatest CAGR during the forecast period. Infrastructural developments like dams and pipelines, where strain sensing is crucial for ground movement and danger detection and to identify risk-prone places, are to blame for the rise of the distributed fibre optic sensors market for the strain sensing application. One of the factors propelling the expansion of the market for the aforementioned application is the rising use of distributed fibre optic sensors for strain sensing applications in the infrastructure and oil & gas sectors. Opportunities for strain sensing applications would arise from expanding infrastructure initiatives around the world.
The market for infrastructure is anticipated to develop the fastest throughout the anticipated timeframe.
During the forecast period, the distributed fibre optic sensor market for the infrastructure sector is anticipated to develop at the quickest rate. The need for structural health monitoring for, among other things, roads, dams, bridges, tunnels, buildings, geotechnical engineering, historical sites, and railway lines is predicted to increase, driving the market for this vertical to expand at the fastest rate. Additionally, fibre optic cables can be mechanically attached to buildings such as dams and pipelines so that ground movement can be monitored and hazards in the area can be localised. Distributed sensors that are integrated with optical cables can be used for this. Market opportunities are provided by expanding infrastructure development projects, particularly in China and the APAC region.
Asia Pacific is anticipated to experience the fastest growth.
Between 2021 and 2026, the market in APAC is anticipated to develop at the fastest rate. Distributed fibre optic sensors are in greater demand from nations including China, Japan, India, and Indonesia, according to companies in the international industry. Governments in nations like China and India are making significant expenditures in distributed fibre optic sensors, which is fueling the expansion of the aforementioned market in APAC. The demand for distributed fibre optic sensors in APAC is also fueled by factors such as growing urbanisation, increased disposable income, replacement demands, stringent safety standards, and technical advancements.
Schlumberger (US), Halliburton (US), Yokogawa Electric (Japan), Weatherford International (Switzerland), Luna Innovations (US), OFS (US), Bandweaver (US), Omnisens (Switzerland), AP Sensing (Germany), and DarkPulse (US) are a few of the major companies in the distributed fibre optic sensor market.
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