Market Research Future published a research report on “Fiber Optic Sensor Market Research Report- Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
The fiber optic sensor consist of fiber optic cable connected to a remote sensor or an amplifier and has the ability to convert light energy into electrical signal. It is used to sense temperature, pressure, rotation, vibrations, and concentration of chemical species. The fiber optic sensor have various applications in the field of remote sensing as it reduces electrical power and is small in size thereby can be easily fit in small areas. It is bad conductor of electricity and possess immune characteristics for electromagnetic interference thereby can be used in places which is having high voltage electricity or any flammable material. Further, the major advantages of fiber optic sensor over conventional sensors are: ideal for microwave, and harsh & hostile environment, can monitor wide range of physical & chemical parameters and consist of thin, low-less glass wire having higher refractive index than its surrounding region which allows light to propagate through single or multimode fiber.
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The high demand of fiber optic sensors in Oil & gas and construction industry are the major growth drivers of fiber optic sensor market during 2016-2022. Fiber optic sensor has high tolerance capacity and well suited for extreme temperature conditions thereby propelling its market growth in industrial as well as in energy & power sector. Also, growing deployment of fiber optic sensors in smart buildings, defense service operations, and in medical sector is expected to drive the market growth in the upcoming future. However, high installation cost and high sensing capability might hamper the growth of fiber optic sensor market during forecast period 2016-2022.
Globally the Fiber Optic Sensor Market is expected to grow at the rate of more than ~11% from 2016 to 2022.
Some of the major players in Global Fiber Optic Sensor Market includes ABB Ltd. (Switzerland), Yokogawa Electric Corporation (Japan), OmniSens S.A. (Switzerland), Deltex Medical Group PLC (UK), Finisar Corporation (U.S.), AP Sensing GmbH (Germany), Sumitomo Electric Industries Ltd. (Japan), AFL Group (U.S.), Luna Innovations Incorporated (U.S.), and, others.
Jan 2018 – Photon Control Inc., a leading developer and supplier of optical measurement technologies to the global semiconductor industry, announced the release of a 4-channel temperature converter. This Multi-Channel system is a single electronic enclosure for 4 channels that would reduce the space required for temperature sensing systems. Photon Control’s temperature converters supply the highest accuracy measurement to the industry over a broad operating range. To meet the demanding and stringent requirements of high RF (Radio-Frequency) semiconductor process control applications, these converters are designed and developed.
Feb 2018– Mississauga, Ontario-based Augusta Industries Inc., is a maker of fibre optic sensor monitoring systems that serves for the oil and gas industry has announced that they have created a wholly owned subsidiary to initiate the process of implementing block chain technology. This block chain technology would create a next technological revolution that would be used for storing and sharing distributed data from multiple input sources. The technology would also provide the company with the capability to transfer any digital data between multiple participants in a secure and auditable fashion.
Dec 2017– Adelos, Inc. and the U.S. Navy entered into a Cooperative Research and Development Agreement (CRADA) to develop new capabilities related to Phosonic 3.0+ fiber optic sensor system for border and perimeter security applications. Adelos, Inc. specilaizes in fiber optic sensor systems for a range of advanced US government and commercial applications and is an applied research and product development company. The CRADA represents specific collaborative areas of research between the U.S. Navy and Adelos, and extends a long-term, valuable relationship between the research partners. These areas involve advanced materials design, acoustic signal processing applications, target classification algorithms, and other areas of interest to the US Government.
Feb 2018– Acorn Energy has completed its DSIT Sale and started providing funding for focused IoT Wireless Remote Monitoring and Control Business. Acorn would also receive an additional $500,000 in the event that DSIT is successful in securing a multi-million dollar contract related to DSIT’s new state-of-the-art fiber-optic monitoring technologies. This amount would be held in escrow for twenty months and could be reduced by any representation or warranty claims by the purchaser group.
Fiber Optic Sensor Global Market – Segmentation
The Fiber Optic Sensor Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Type: Intrinsic and extrinsic fiber optic sensors others
- Segmentation By Component: Transmitters, receivers, optical amplifiers, fiber optic cable and others
- Segmentation By End-Users: Defense, energy & power, medical, transportation, industrial and others
- Segmentation by Regions: North America, Europe, Asia-Pacific and Rest of the world
Fiber Optic Sensor Global Market – Regional Analysis
North America is dominating the Global Fiber Optic Sensor Market with the largest market share as companies in this region have their focus on increasing the production and improving their distribution network. North America has been a leader in digitization and also the rising smart city market is boosting the market in this region. Asia Pacific region is growing with high growth rate due to rising need of handheld devices and electronic systems. Countries like China and Japan are some major countries dominating the market. Fiber Optic Sensor market in Europe region is expected to grow at a substantial CAGR during 2017 to 2023.
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- Device manufacturers
- Component manufacturers and suppliers
- Maintenance and service providers
- Technology investors
- Suppliers & distributors
- Research & consultancy
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