Market Synopsis of Fiber Optic Sensor Market
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.
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.
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Geographically, North America is expected to dominate the fiber optic sensor market during the forecast period 2016-2022 followed by Europe. The North America market further classified into its major countries U.S., Canada and Mexico. The companies in the region is focusing in increasing their production and improving their distribution network. Also, increasing demand of handheld devices in smart control system of factory automation is expected to propel the market growth of fiber optic sensor in the region. Asia-Pacific is expected to be the fastest growing market in fiber optic sensor market due to growing demand of fiber optic sensors in oil& gas and construction industry in the region. Also, rising need of handheld devices and electronic systems is expected to fuel the growth of fiber optic sensor market in the region by the end of 2022.
- 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.)
Study Objectives of Fiber Optic Sensor Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Fiber Optic Sensor market.
- To provide insights about factors affecting the market growth.
- To analyze the Fiber Optic Sensor market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of type, application, end -users and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Fiber Optic Sensor.
Segments for Fiber Optic Sensor Market:
Global Fiber Optic Sensor Market can be segmented as follows:
- Segmentation by Type: Intrinsic and extrinsic fiber optic sensors.
- Segmentation by Component: Transmitters, receivers, optical amplifiers, fiber optic cable and others.
- Segmentation by End-Users: Defense, energy & power, medical, transportation, industrial and others.
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- Device manufacturers
- Component manufacturers and suppliers
- Maintenance and service providers
- Technology investors
- Suppliers & distributors
- Research & consultancy
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