According to a new report, published by KBV research, The Global Fiber Bragg Grating (FBG) Market size is expected to reach $9.6 billion by 2031, rising at a market growth of 23.0% CAGR during the forecast period.
The FBG Sensor segment is leading the Global Fiber Bragg Grating (FBG) Market by Type in 2023; thereby, achieving a market value of $5.4 billion by 2031. This segment is driven by its high precision, reliability, and versatility in measuring parameters like temperature, strain, and pressure. These sensors are increasingly used in aerospace, energy, and civil engineering for structural health monitoring, ensuring operational safety and efficiency. The adoption of FBG sensors is further fueled by the increasing demand for remote sensing solutions in harsh environments, as they are capable of operating in extreme conditions and are immune to electromagnetic interference.
The Energy & Utilities segment is experiencing a CAGR of 22.5% during (2024 - 2031). The operational efficacy and safety of renewable energy projects, such as solar power plants and wind farms, are guaranteed by the monitoring of structural health, temperature, and strain by FBG sensors. In the oil and gas sector, FBG solutions have also been implemented for pipeline monitoring and breach detection. The increasing focus on sustainable energy and stringent regulations for safety and efficiency in utility operations have fueled the growth of FBG applications in this segment.
Full Report: https://www.kbvresearch.com/fiber-bragg-grating-market/
The North America region dominated the Global Fiber Bragg Grating (FBG) Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.4 billion by 2031. The Europe region is experiencing a CAGR of 22.6% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 24% during (2024 - 2031).
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