Fiber Optic Sensing Technology Market is expected to reach $4.9 billion by 2028 from $2.9 billion in 2020 at a compound annual growth rate (CAGR) of 10.11% for the forecast period of 2022 to 2027.
Fiber Optic Sensing Technology Market Overview
The Fiber Optic Sensors market in the U.S. is estimated at US$746.8 Million in the year 2021. The country currently accounts for a 26.0% share of the global market. China, the world's second-largest economy, is forecast to reach an estimated market size of US$539.5 Million in the year 2026 trailing a CAGR of 10.5% through the analysis period.
Optical fiber sensing permits movement away from traditional discrete measurement points to continuous measurements imagining strain and temperature gradients, pressure, multi-directional force, curvature, and shape information. The technology is being used today in various businesses ranging from industrial processing, structural health monitoring, and energy to aerospace, medical, and safety and security.
The technology is being used today in numerous industries ranging from industrial processing, structural health monitoring, and energy to aerospace, medical, and safety and security. Fiber optic sensors remain a technology with much promise but only niche applications. Fiber optics have the highest market success where the unique attributes of optics cannot be fake. Medical and defense are the two markets where optics have a distinct advantage over competing electronic options.
Growing 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. Numerous 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 innovative civil engineering vertical is expected to boost market development.
Recent Developments
Resonetics Announces Acquisition of FISO Technologies
NASHUA, N.H., Nov. 9, 2021 / -- Resonetics announced today that it has acquired FISO Technologies Inc. (FISO), a leading developer and manufacturer of fiber optic sensors and signal conditioners, from Nova Metrix LLC. Founded in 1994, Quebec City-based FISO provides leading-edge fiber optic development capabilities and advanced manufacturing experience to support high-volume production of complex fiber optic products for the medical device and energy markets. FISO's sensors provide reliable solutions for measuring parameters such as pressure, temperature, force, displacement, and position.
What are the major Applications, Types, and Regions of the Fiber Optic Sensing Technology Market?
Fiber Optic Sensing Technology Market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
- FBG
- Intensity Modulated Fiber Optic Sensors
- Phase Modulated Fiber Optic Sensors
- Others
By Applications, it is segmented into
Fiber Optic Sensing Technology Market Regional Analysis
The market in APAC will grow at the highest CAGR during the forecast period. APAC is expected to be the fastest-growing region in the distributed fiber optic sensor market owing to factors such as continuously increasing population in countries such as India and China that has led to the surging consumption of oil and natural gas. Moreover, the countries of the Rest of APAC have started investing in pipeline infrastructures that pave the way for increased demand for distributed sensors. Due to growing government activities in countries such as China and India, it is expected that there would be high growth opportunities for the distributed fiber optic sensor market in APAC.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Fiber Optic Sensing Technology Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Fiber Optic Sensing Technology Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Fiber Optic Sensing Technology Market report scope?
Scope of the Report covers Fiber Optic Sensing Technology Market with detailed analysis of the overall scenario for the market. It also highlights the business participants environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Fiber Optic Sensing Technology Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how worldwide market is working through efficient information graphics.
Reports Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 10.11% during the review period (2022 to 2027).
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By Type
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- FBG
- Intensity Modulated Fiber Optic Sensors
- Phase Modulated Fiber Optic Sensors
- Others
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By Application
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By Companies
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FISO Technologies, Eyesense, Proximion AB Hexatronic Group, OPSENS, FBGS TECHNOLOGIES GMBH, KVH, LUNA, Omron |
Regions Covered
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• North America
• Europe
• Asia-Pacific
• Rest of the World
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Countries Covered
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• US
• Canada
• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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87
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Fiber Optic Sensing Technology Report
- Evaluate Fiber Optic Sensing Technology market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Fiber Optic Sensing Technology market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Fiber Optic Sensing Technology Market is studied from 2017 - 2027.
Who are the key players in Fiber Optic Sensing Technology Market?
FISO Technologies, Eyesense, Proximion AB Hexatronic Group, OPSENS, FBGS TECHNOLOGIES GMBH, KVH, LUNA, Omron
What are the significant types of Fiber Optic Sensing Technology Market?
FBG, Intensity Modulated Fiber Optic Sensors, Phase Modulated Fiber Optic Sensors, Others.
What are the major end-use applications of Fiber Optic Sensing Technology Market?
Telecom, Medical, Others.
What segments are covered in the Fiber Optic Sensing Technology Market report?
The Global Fiber Optic Sensing Technology Market is segmented on the basis of Product, Application, and Geography.
How can I get a sample report/company profile for the Fiber Optic Sensing Technology Market?
The sample report for the Fiber Optic Sensing Technology Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
