"Strong Demand from the Oil & Gas Sector Drive the Fiber Optic Sensors Market"

Fiber optic sensors have offered a viable solution for various industry verticals including industrial manufacturing & processing, oil & gas, energy & utilities, transportation, healthcare and others. Some of the key benefits offered by the fiber optic sensors include ease of installation, distributed measurements all across the fiber length and cost effectiveness. Such sensors are widely deployed for measuring temperature, chemical composition, pressure, acoustics and strain. The sensors are further connected an appropriate data infrastructure which enables processing of the measurements in order to draw insights from the same. Due to their small size and capability to function in harsh environments, the market is set to continue witnessing robust growth over the forecast period. All these factors are expected to contribute towards a compounded annual growth rate (CAGR) of 10.1% during the forecast period 2018 – 2026.

"Intrinsic Fiber Optic Sensors to Remain the Largest Segment"

In 2017, the intrinsic fiber optic sensors segment led the overall market contributing to more than 2/3rd of the global market value. Intrinsic fiber optic sensors are more sensitive as compared to the extrinsic counterparts. These sensors have all-fiber design, which further reduces the issues related to connection (as against to extrinsic sensors). Additionally, intrinsic fiber optic sensors are more versatile and robust as compared to extrinsic sensors, making them preferred in majority of the harsh environment applications. Thus, despite the higher cost, intrinsic fiber optic sensors segment would continue dominating the market throughout the forecast period.

"Consistent Need for Design Enhancement to Ensure a Competitive Market"

Some of the major fiber optic sensors companies profiled in the report include ABB Ltd., Halliburton CO, Fiso Technologies, Inc., OMRON Corporation, OmniSens S.A., Opsens Oil and Gas, Deltex Medical Group PLC, Finisar Corporation and Sumitomo Electric Industries Ltd. Other major players covered in the report are Luna Innovations Inc., Ziebel AS, OptaSense (QinetiQ Company), AP Sensing GmbH, Pepperl+Fuchs GmbH, Petrospec Engineering Inc., Schlumberger Ltd., AFL Group, SCHOTT AG, TE Connectivity and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Fiber Optic Sensors market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Fiber Optic Sensors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Fiber Optic Sensors market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Fiber Optic Sensors market?
• Which is the largest regional market for Fiber Optic Sensors market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Fiber Optic Sensors market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Fiber Optic Sensors market worldwide?