Distributed Acoustic Sensing Market Outlook 2031
The global distributed acoustic sensing market size was valued at USD 573.34 Million in 2022 and is anticipated to reach USD 1.51 Billion by 2031, expanding at a CAGR of 11.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to the wide applications of the sensing system across various industries including oil & gas and security & surveillance.
Distributed acoustic sensing (DAS) system is an advanced technology used for observation of sound signals using several fiber optic cables to ensure effective sensing power. Several optoelectronic devices are attached in the cable to boost the accurate measurement of sensing elements.
DAS technology is widely adopted by several end-users due to its wide advantages and has more advanced system compared to conventional sensing systems including lower cost, relatively slim cable, and obvious installation process. DAS systems can measure the complete vertical report of a well without any fiber movement. Therefore, it ensures data progression due to its thin rope.
Distributed Acoustic Sensing Market Trends, Drivers, Restraints, and Opportunities
- Increasing deployment of DAS systems in fiber optic-based products in the oil & gas industry due to the rising needs for digitization in the field presents a key driver of the market.
- Effective and accurate result of the system coupled with mass installation for security and border surveillance is further boosting the market.
- Concerning services and technical issues along with the cost constraints associated with the deployment of optical fiber cables for in-well monitoring and several other applications are major challenges that can hamper the market growth.
- Growing inflow of R&D investment from key players and technological development for effective sensing devices are likely to create key opportunities for the market.
Scope of Distributed Acoustic Sensing Market Report
The report on the global distributed acoustic sensing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Distributed Acoustic Sensing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2022
|
Historic Data
|
2016–2021
|
Forecast Period
|
2023–2031
|
Segmentation
|
Types (Single-mode Fiber and Multimode Fiber) and Verticals (Security & Surveillance, Power & Utility, Environment & Infrastructure, Oil & Gas, Transportation, and Others)
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Northrop Grumman Corporation; Baker Hughes; OptaSense; Future Fibre Technologies; Halliburton; Omnisens SA; Silixa Ltd; Schlumberger Limited; GE Company LLC; Ziebel; and Fotech Solutions Ltd.
|
Distributed Acoustic Sensing Market Segment Insights
Types Segment Analysis
Based on types, the global distributed acoustic sensing market is bifurcated into single-mode fiber and multimode fiber. The single-mode segment is expected to grow at a rapid pace during the forecast period. The single mode allows to effective transmission of data and reduces the light waste.
However, the multimode fiber segment is anticipated to hold a key share of the market in the coming years owing to high-level approval for long-distance applications and inexpensive model that can produce high capacity performance compared to a single-mode type.
Verticals Segment Analysis
On the basis of verticals, the market is segregated into oil & gas, power & utility, security & surveillance, environment & infrastructure, transportation and others. The oil & gas segment is projected to expand at a considerable CAGR during the forecast period as the technology is extensively used for oil pipeline monitoring.
On the other hand, the environment & infrastructure segment is anticipated to account for a major market share during the forecast period owing to massive governments’ spending for infrastructure development and wide use of issuing auditory sensing systems in the high-pressure environments and high-temperature of wellbores.
Regional Analysis
In terms of regions, the global distributed acoustic sensing market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the rising needs of the various industrial applications.
Moreover, the early acceptance of the advanced technology among end-users presents another key drivers of the regional market. However, the market of Middle East & Africa is anticipated to expand at a rapid pace during the forecast period as the region is home to the world’s largest reserve oil and several projects associated with the exploration of the oil and gas reserve.
Segments
The global distributed acoustic sensing market has been segmented on the basis of
Types
- Single-mode Fiber
- Multimode Fiber
Verticals
- Security & Surveillance
- Power & Utility
- Environment & Infrastructure
- Oil & Gas
- Transportation
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global distributed acoustic sensing market share are Northrop Grumman Corporation; Baker Hughes; OptaSense; Future Fibre Technologies; Halliburton; Omnisens SA; Silixa Ltd; Schlumberger Limited; GE Company LLC; Ziebel; and Fotech Solutions Ltd. In November 2019, Halliburton signed an agreement with the Advanced Restored Technology Center (ARTC) for anchor membership.