The North America Distributed Fiber Optic Sensor Market would witness market growth of 8.2% CAGR during the forecast period (2021-2027).
The capability of the technology to deliver maximum performance in challenging applications is among the major factors propelling the growth of the market. Optical fibers help professionals to supervise and regulate the huge operations utilized in border security, pipelines, and civil engineering. The installation of fiber optic cables provides organizations with better cost-saving prospects in comparison to other metal wires owing to the great transmission capacity. The superior efficiency and great speed of transmission abilities in mobile & distant places motivate the companies to adopt the technology.
The growing requirement among the companies to involve efficient sensing operations of their machine systems is expected to create bright growth prospects for the distributed fiber optic sensor market. The uses of optic sensing have surged significantly over numerous business industries like aerospace, civil, automotive, energy, and others. There are many kinds of sensing technologies like Rayleigh’s effect-based and Raman Effect-based sensing, which also have discrete operational abilities. The elevated functionality of Distributed Fiber Optic Sensor (DFOS) is motivating many organizations to allot more funds into the technology and in R&D activities. It further leads to the development of the latest products, thus providing the company with the opportunity to acquire a higher market share.
The strong presence of major key players of the distributed fiber optic sensor market in this region would create lucrative opportunities for other players of the market. In addition, the high adoption rate of various technically advanced or improved products would support this regional market. There are many companies in this region, which have high capital to install these distributed fiber optic sensors at their sites.
The dominance of the top leading oil and gas companies in the US would increase the adoption of distributed fiber optic sensors in this region. Moreover, the rising adoption of these sensors and the strict statutory regulations related to leak detection would accelerate the growth of the regional distributed fiber optic sensor market.
The US market dominated the North America Safety & Security Distributed Fiber Optic Sensor Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $76.3 million by 2027. The Canada market is experiencing a CAGR of 11.1% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 10.1% during (2021 - 2027).
Based on Technology, the market is segmented into Raman Effect, Brillouin Scattering, Rayleigh Effect, Interferometric, and Others. Based on Application, the market is segmented into Temperature Sensing, Acoustic/Vibration Sensing and Others. Based on End User, the market is segmented into Oil & Gas, Power & Utility, Safety & Security, Industrial, Civil Engineering and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Distributed Fiber Optic Sensor Market is Estimated to Reach USD 1.9 Billion by 2027 at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include of Fujikura Ltd., Furukawa Electric Co., Ltd., Bandweaver Technologies Ltd., Yokogawa Electric Corporation, Halliburton Company, Schlumberger N.V., Weatherford International PLC, Luna Innovations, Incorporated, Omnisens SA, and Terna SpA (BruggKabel AG).
By Technology
By Application
By End User
By Country
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