Segments - Fiber Optic Sensors Market by Type (Intrinsic and Extrinsic), Product (Receivers, Transmitters, Fiber Optic Cables, Optical Amplifiers, and Others), Application (Temperature Sensing, Chemical Sensing, Acoustic Sensing, and Others), End-user (Transportation, Oil & Gas, IT& Telecommunications, Medical, Safety & Security, Industrial, Defense, Energy & Power, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The global fiber optic sensors market size was around USD 2.77 billion in 2021 and is projected to reach USD 6.17 billion by 2030, expanding at a CAGR of around 10.5% during the forecast period, 2022 to 2030. The growth of the market is attributed to the increasing expansion of the telecommunications industry and growing investments in civil infrastructures.
A fiber optic sensor refers to a device that uses optic fiber technology used to measure physical quantities such as pressure, strain, temperature, acceleration, voltages, and others. Fiber optic sensors, based on photoelectric sensing technology, are used as sensing devices, which transport signals from the remote sensors to the signals processing modules. These fiber optic sensors are resistant to any electromagnetic interference and they do not conduct electricity. Fiber optic sensors can withstand extreme conditions such as high temperatures. These factors are turning fiber optic sensor solutions into a popular choice in various industries such as telecommunication, oil & gas, medical, transportation, and others. Typically, a fiber optic sensor system consists of a fiber optic cable that is connected to a remote amplifier or a sensor. Fiber optic cables have plastic or glass cores, which are surrounded by a layer of cladding material. The light is reflected and transmitted through the sensor that converts the light energy into electrical signals.
Fiber optic sensors can withstand extreme temperatures, high voltages, and unstable environments. These sensors are resistant to radio and electromagnetic frequency interference. Fiber optic sensors have multiplexing capabilities and a wide range and resolution. Fiber optic sensors are increasingly becoming a popular choice for several applications in various industries.
COVID-19 Impact
The COVID-19 pandemic affected the global fiber optic sensors market negatively. The lockdown, social distancing policies, travel bans, unavailability of raw materials & labor, and other pandemic-related restrictions caused several industries such as the gas & oil industry to shut down their operations. The closure of several factories across the globe disrupted the supply chain. The slack in the pandemic-related restrictions and regulations across the globe in recent years is expected to witness a steady increase in the global fiber optic sensors market.
The fiber optic sensor market research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The fiber optic sensors market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
Fiber optic sensors can withstand high temperatures, which makes them highly suitable for various applications in the oil & gas industry. The oil and gas extraction procedures are done within high temperatures with the help of fiber optics sensors, which help boost the global fiber optic sensors market growth.
The fiber optic sensor is one of the most reliable technologies used in various applications such as sensing temperature and acoustics. Various industries such as oil & gas, aviation, IT & telecommunications, medical, and others increasingly adopting fiber optic sensor solutions, which is estimated to fuel the global fiber optic sensors market in the coming years.
Fiber optic sensors offer various advantages such as light weight, flexibility, high sensitivity, energy efficiency, security, compactness, and others. These benefits are expected to increase the demand for fiber optic sensors and fuel the global fiber optic sensors market growth during the forecast period.
Fiber optic sensor solutions are used in various types of crucial monitoring devices. The installation is a complex process that can be done by a specialist to make it properly function. This factor is anticipated to hamper the growth of the market.
The continuous research and development activities in the telecommunication industry offer various innovative technologies such as hybrid wireless systems. The surging adoption of fiber optic sensor solutions in innovative technologies such as hybrid wireless systems offer lucrative growth opportunities to the market players.
The report on the global fiber optic sensors market includes an assessment of the market trends, market segments, and regional markets. Market overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Fiber Optic Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2022–2030 |
Segmentation |
Type (Intrinsic and Extrinsic), Product (Receivers, Transmitters, Fiber Optic Cables, Optical Amplifiers, and Others), Application (Temperature Sensing, Chemical Sensing, Acoustic Sensing, and Others), and End-user (Transportation, Oil & Gas, Medical, Safety & Security, Industrial, Defense, Energy & Power, 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, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Davidson Instruments, Inc.; Intelligent Fiber Optic Systems Corporation (IFOS); Ocean Insight; Avantes BV; Digi-Key Electronics; Honeywell International Inc.; OMRON Corporation; Agilent Technologies; Schlumberger Limited; Sintela; Finisar Corporation; Coherent Corp.; Luna Innovations; Sumitomo Electric Industries, Ltd.; ABB; Deltex Medical Group PLC; Yokogawa Electric Corporation; Omnisens; Roctest Ltd.; Banner Engineering Corp.; Solifos AG; Halliburton Company; AP Sensing GmbH; TGS; and Others |
Based on type, the global fiber optic sensors market is bifurcated into intrinsic and extrinsic. The intrinsic segment is expected to register a significant CAGR of 9.1% during the forecast period, due to the increasing demand for intrinsic fiber optic sensors to measure pressure, strain, temperature, and other physical properties. Wide adoption of these sensors in the oil and gas industry across the globe boosts the global fiber optics sensors market growth.
The extrinsic segment is anticipated to expand in the coming years, owing to the rising adoption of extrinsic sensors to employ fibers as a guide of the light towards the sensing area. These types of sensors are used to measure velocity, displacement, acceleration, vibrations, and other physical quantities, which help spur the extrinsic segment growth.
On the basis of product, the global fiber optic sensors market is divided into receivers, transmitters, fiber optic cables, optical amplifiers, and others. The transmitters segment is projected to witness a large share in the market revenue during the forecast period, owing to growing subsea activities across the globe. Fiber optic sensors used in transmitters are used to cover long transmission distances and high bandwidth. The increasing popularity of transmitters with fiber optic sensor solutions for system monitoring drives the transmitters segment growth.
In terms of application, the global fiber optic sensors market is segregated into temperature sensing, chemical sensing, acoustic sensing, and others. The temperature sensing segment is estimated to hold a key market share during the forecast period, owing to the surge in the oil and gas industry across the globe. Increasing adoption of fiber optic sensors in various industries such as transportation and oil & gas for monitoring and sensing temperature boosts the temperature sensing temperature growth.
According to end-user, the global fiber optic sensors market is divided into transportation, oil & gas, medical, safety & security, industrial, defense, energy & power, and others. The oil & gas segment is projected to hold a key market share during the forecast period, due to the high demand for fiber optic sensors to measure strain and temperature for drilling activities. Innovative technologies such as multiplexing technology are used for various applications in the oil & gas segment that facilitates the growth of the segment.
On the basis of regions, the global fiber optic sensors market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The fiber optic sensors market in North America is expected to register a high CAGR during the forecast period, owing to the increasing demand for fiber optic sensors solutions in the region. The high adoption of fiber optic sensors in the manufacturing industry and other industries in North America boosts the fiber optic sensors market in the region. The surge in the telecommunications industry in the region fuels the demand for fiber optic sensors solutions in North America. The region has several well-established market players that help in boosting the fiber optic sensors market.
The fiber optic sensors market in Asia Pacific is anticipated to grow rapidly in the coming years, owing to the surging demand for the oil & gas industry and the construction industry in the region. Rising demand for fiber optic sensor solutions for biomedical applications in countries such as India, China, and Japan fuel the fiber optic sensors market growth in the region. The increasing penetration of the aviation industry in the countries such as Malaysia, Australia, Singapore, China, India, and Thailand drive the fiber optic sensors market in Asia Pacific.
The fiber optic sensors market in Europe is estimated to register significant growth during the forecast period, due to the increasing demand for fiber optic sensors solutions in oil and gas factories across the region. High demand for fiber optic sensors for various applications such as sensor instruments, health monitoring, and others in the region spurs the market growth in Europe.
The global fiber optic sensors market has been segmented on the basis of
Key players competing in the global fiber optic sensors market are Davidson Instruments, Inc.; Intelligent Fiber Optic Systems Corporation (IFOS); Ocean Insight; Avantes BV; Digi-Key Electronics; Honeywell International Inc.; OMRON Corporation; Agilent Technologies; Schlumberger Limited; Sintela; Finisar Corporation; Coherent Corp.; Luna Innovations; Sumitomo Electric Industries, Ltd.; ABB; Deltex Medical Group PLC; Yokogawa Electric Corporation; Omnisens; Roctest Ltd.; Banner Engineering Corp.; Solifos AG; Halliburton Company; AP Sensing GmbH; TGS; and others. Some of these major companies have adopted a series of business development strategies including mergers and acquisitions, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.