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$1.1 Billion Distributed Fibre Optic Sensor Market
December 9, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Distributed Fibre Optic Sensor Market: Global Industry Analysis and Opportunity Assessment 2016-2026" report to their offering.
The global distributed fibre optic sensor market was worth US$ 1.1 Bn in 2015 and is expected to register a CAGR of 10.4% during the forecast period (2016-2026).
Enhanced public awareness about distributed fibre optic sensors and an increase in demand from core sectors such as oil, gas, telecom, heavy industries, railways, and the military is expediting the growth of the global distributed fibre optic sensor market. Apart from private players the government is also heavily procuring and using distributed fibre optics in different projects.
To reduce the impending cost of a big project most of the private and government players are implanting distributed fibre optic sensors and this is likely to fuel the overall growth of the global distributed fibre optic sensor market and balance the market demand-supply ratio. The mining sector's struggle with old technologies and the need to implement advanced technologies is opening a window of opportunity for key players operating in the global distributed fibre optic sensor market.
However, the high cost factor associated with distributed fibre optic sensors and slow economic development of some of the major markets spread across APEJ and MEA might hinder the future growth of the global distributed fibre optic sensor market.
FISO Technologies Inc., Brugg Kabel AG, OSENSA Innovations Corp., Sensor Highway Ltd., Omnisens S.A., AFL Global, Lockheed Martin Corporation, and QinetiQ Group plc. are some of the leading companies operating in the global distributed fibre optic sensor market.
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