Global Fiber Optic Sensor Market revenue was US$ XX Mn in 2019 and is expected to grow at XX% in forecast period.
Global Fiber Optic Sensor Market Overview:
The global fiber optic sensors market is sustained by the growing demand for several high-end industrial applications together with sophisticated functions. Fiber optic sensors have a high tolerance capacity for extreme temperature conditions. Therefore, the demand for these fiber optic sensors is expected to intensify over the future, particularly in applications that have extreme environmental situations where the electrical sensors fail to function effectively. Some examples of applications with extreme temperature conditions are the manufacturing, and oil & gas sectors. Fiber optic sensors are gaining traction across numerous industries as they are more durable and reliable than their counterparts and predecessors. The deployment of power-efficient and ultra-miniaturized sensors is expected to considerably contribute to the growth of the market and further have a positive impact on the future.
Additionally, Fiber optic sensors (FOSs) are gradually reaching a stage of maturity as a sensing technology in biomedical applications. Fiber Bragg gratings (FBGs) and Fabry-Perot interferometry (FPI) are the key technologies for biophysical sensing, for parameters, like pressure, temperature, and strain, at single or multiple points. Fiber optic sensors (FOSs) can operate as in vivo diagnostic elements, or assist other endoscopic devices, or external to the organism in smart textiles.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Fiber Optic Sensor Market Dynamics:
The demand for fiber optic sensors in applications that have thrilling environmental conditions and where electrical sensors fail to function correctly, like the oil and gas, and manufacturing sector is expected to drive the fiber optic sensors capability of a higher tolerance for high temperatures.
Increased exploration of unconventional resources, fiber optic sensors are integrated into equipment used during the drilling and exploration stages, the increase in consumption of oil & gas, the decline in the production of conventional oil reserves has forced vendors, and governments to indulge in exploration and drilling activities, so, leading to demand fiber optic sensors in this industry.
On the other hand, the high cost of fiber optic sensors, the expensive deployment cost, and the high sensitivity of the sensors are the factors that affect the growth of the fiber optic sensor market.
Global Fiber Optic Sensor Market Segmentation:
According to the type, in 2018, the intrinsic fiber optic sensors segment led the overall market favorable above 2/3rd of the global market value. The main reason behind the dominance of intrinsic sensors is the early adoption of these sensors in the oil and gas industry and are more sensitive as compared to the extrinsic counterparts. These sensors have an all-fiber design, which further reduces the problems related to the connection. Moreover, intrinsic fiber optic sensors are more versatile and robust as compared to extrinsic sensors, making them chosen in the majority of the severe environment applications. Therefore, despite the higher cost, the intrinsic fiber optic sensors segment would continue dominating the market during the estimated period.
Region-wise, North America is expected to hold the largest market share & dominate the fiber optic sensor market throughout the forecast period followed by Europe. The North American market further classified into its major countries U.S. and Canada. The companies in the region are focusing on increasing their production and improving their distribution network. As well, the demand for handheld devices in the smart control system of factory automation is expected to push the market growth of the fiber optic sensor in the region. Furthermore, Asia-Pacific is expected to be the fastest-growing market in the fiber optic sensor market thanks to the demand for fiber optic sensors in the oil & gas, and construction industry in the region. Also, increasing the need for handheld devices and electronic systems is expected to boost the growth of the fiber optic sensor market in the region in the future.
The objective of the report is to present a comprehensive analysis of the Global Fiber Optic Sensor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Fiber Optic Sensor Market dynamics, structure by analyzing the market segments and project the Global Fiber Optic Sensor Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Fiber Optic Sensor Market make the report investor’s guide.
Scope of the Global Fiber Optic Sensor Market :
Global Fiber Optic Sensor Market, By Type
• Extrinsic Optical Sensor
• Intrinsic Optical Sensor
Global Fiber Optic Sensor Market, By Sensor Type
• Fiber Optic Sensor
• Image Sensor
• Photoelectric Sensor
• Ambient Light and Proximity Sensor
• Other Sensor Types
Global Fiber Optic Sensor Market, By Application
• Industrial
• Medical
• Biometric
• Automotive
• Consumer Electronics
• Other Applications
Global Fiber Optic Sensor Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Fiber Optic Sensor Market
• ROHM Co. Ltd
• Rockwell Automation Inc.
• SICK AG
• Vishay Intertechnology Inc.
• Honeywell International Inc.
• On Semiconductor Corporation
• IFM Efector Inc.
• Keyence Corporation
• Pepperl+Fuchs GmbH
• ROHM Co. Ltd
• STMicroelectronics NV
• ABB Ltd.
• AFL Group
• AP Sensing GmbH
• Deltex Medical Group PLC
• Finisar Corporation
• Fiso Technologies Inc.
• Halliburton CO
• Luna Innovations Inc.
• OmniSens S.A.
• OMRON Corporation
• Opsens Inc.
• OptaSense (QinetiQ Company)
• Petrospec Engineering Inc.
• Schlumberger Ltd.
• SCHOTT AG
• Sumitomo Electric Industries Ltd.
• TE Connectivity
• Ziebel AS
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