Global Fiber Optic Sensors Market should reach US$ 1885 million by 2026 from US$ 1211.7 million in 2021 at a compound annual growth rate (CAGR) of 11.7% for the Forecast period of 2021 to 2026.
Fiber optic sensors (FOS) are used to measure physical attributes like rotations, pressure, temperature, mechanical strain, chemical species concentration, voltages, vibrations, acceleration and displacements. Fiber optic sensors use optical fiber as a sensing element (intrinsic sensor) or to transfer signals from a remote sensor to the module of signal processing (extrinsic sensor). Electromagnetic constraints resist fiber optic sensors and they do not carry electricity.
At present, in developed countries, the fiber optic sensors industry is generally at a more advanced level. The world's large enterprises are mainly concentrated in USA. Meanwhile, foreign companies have more advanced equipment, strong R & D capability, and leading technical level. However, foreign companies manufacturing cost is relatively higher, compared with Chinese companies. With the development of Chinese fiber optic sensors production technology, their share in the international market is increasing, and competitiveness in the international market gradually increases.Fiber optic sensors are fiber-based devices for sensing some quantity, typically temperature or mechanical strain, but sometimes also displacements, vibrations, pressure, acceleration, rotations or concentrations of chemical species.
Top Key players in the Fiber Optic Sensors Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Fiber Optic Sensors Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Micron Optics, Honeywell, FISO Technologies, Omron, FBGS TECHNOLOGIES GMBH, Proximion, Smart Fibres Limited, Sensornet, ITF Labs/3SPGroup, Keyence, IFOS, NORTHROP GRUMMAN, O/E LAND, Inc, KVH, Photonics Laboratories, Chiral Photonics, FBG TECH, OPTOcon GmbH, Redondo Optics, Broptics, Wutos, Pegasus (Qingdao) Optoelectronics, BEIYANG, Bandweaver, DSC and others.
Fiber Optic Sensors Market is segmented based on the type, applications, companies and regions.
The Fiber Optic Sensors market in the U.S. is estimated at US$227.7. China, the world`s second largest economy, is forecasted to reach a projected market size of US$328.4 Million trailing a CAGR of 12.1%. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 7.1% respectively. Within Europe, Germany is forecasted to grow at approximately 5.1% CAGR.
North America is a significantly growing market, with the United States accounting for a major share, specifically owing to the growth in consumer electronics. Textile-integrated flexible optical fibers for electronic wearable systems are lightweight in structure, insensitive to electromagnetic fields, and water- and corrosion-resistant. Due to these benefits, optical fiber-based pressure sensors are used in numerous applications to detect chemical or physical change further stimulating adoption of consumer electronics.
The report offers in-depth assessment of the growth and other aspects of the Fiber Optic Sensors Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Fiber Optic Sensors Market for the historical period of 2017-2021 and the forecast period of 2021-2026.
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
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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.
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.
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.
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.