Global Fibre Optics Sensors Market 2016-2020
"Global
Fibre Optics Sensors Market 2016-2020".
The Report covers current Market Trends, Analysis, Forecast, Review,
Share, Size, Growth, Effect.
Description-
Technavios
market research analyst 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.
Increased
exploration of unconventional resources is another major factor
expected to increase the revenues of the fiber optic sensors market
during the forecast period. Fiber optic sensors are integrated into
equipment used during the drilling and exploration stages. The
increase in consumption of oil and gas and the decline in the
production of conventional oil reserves has forced vendors and
governments to indulge in exploration and drilling activities,
therefore, leading to greater demand for fiber optic sensors in this
industry.
Product
segmentation and analysis of the fiber optic sensors market
Intrinsic
fiber optic sensors
Extrinsic
fiber optic sensors
The
intrinsic sensors segment dominated the market during 2015, with a
market share of above 93%. Intrinsic sensors are used to measure
physical properties such as strain, pressure, and temperature. The
main reason behind the dominance of intrinsic sensors is the early
adoption of these sensors in oil and gas industry.
Segmentation
by end-user and analysis of the fiber optic sensors market
Oil
and gas
Manufacturing
Infrastructure
Security
Others
Oil
and gas accounted for nearly 31% of the market share during 2015. The
high demand for equipment used for exploration and drilling
activities and the ability of fiber optic sensors to measure
temperatures and strain at different locations through a single fiber
using multiplexing technology has been driving the growth of this
segment.
Geographical
segmentation and analysis of the fiber optic sensors market
Americas
APAC
EMEA
The
Americas accounted for almost 42% of the market share during 2015 and
is expected to grow at a CAGR of close to 10% during the forecast
period. The high adoption rate of fiber optic sensors in the
manufacturing industry and the availability of huge reserves
resulting in increased exploration and drilling activities are the
primary drivers for the market growth in this region.
Competitive
landscape and key vendors
Even
though there is a colossal presence of vendors in the global fiber
optic sensors market, many of these vendors have diversified
portfolio and offer different types of sensors, and only a few
vendors have core expertise in manufacturing fiber optic sensors,
Therefore, the market offers great opportunity for vendors to bring
in innovative and technologically advanced products into the market.
The
leading vendors in the market are -
Banner
Engineering
ifm
Efector
OMRON
Sick
Other
prominent vendors in the market include Honeywell Sensing and
Control, Micron Optics, and Sensotec.
Key
questions answered in the report include
What
will the market size and the growth rate be in 2020?
What
are the key factors driving the global fiber optic sensors market?
What
are the key market trends impacting the growth of the global fiber
optic sensors market?
What
are the challenges to market growth?
Who
are the key vendors in the global fiber optic sensors market?
What
are the market opportunities and threats faced by the vendors in the
global fiber optic sensors market?
For
More Information Kindly Contact:
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