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Global Fiber Optic Sensors Market to Grow Steadily
January 12, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Fibre Optics Sensors Market 2016-2020"report to their offering.
The report predicts the global fiber optic sensors market to grow steadily at a CAGR of about 9% during the forecast period.
The fiber optic sensors capability of a higher tolerance for high temperatures is expected to drive the demand for these sensors in applications that has extreme environmental conditions and where electrical sensors fail to function properly, such as the oil and gas, and manufacturing sector.
Fiber optic sensors reduce time for product packaging by efficiently counting and aligning the products moving on conveyor belts. For instance, inadequate tightening and improper alignment of bottle caps can be detected with the effective deployment of fiber optic sensors. Moreover, these sensors help with labeling and bar-code detection of products, which helps in improving packaging and dispatch systems. This is expected to increase the demand for fiber optic sensors in food and packaging industries.
According to the report, the greater tolerance for high temperatures will have a high impact on oil and gas, and manufacturing customers, as the market of these customers is expected to grow during the forecast period. This will increase the demand for monitoring equipment, which are integrated with fiber optic sensors.
Further, the report states that one of the major issues hindering the growth of the global fiber optic sensor market is the high cost of upgrading from conventional sensors.
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