Fiber Optic Sensor Global Market – Overview
The Global Fiber Optic Sensor Market is growing rapidly; mainly due to the increasing demand of fiber optic sensors in Oil & gas and construction industry. According to a recent study report published by the Market Research Future, the global market of Fiber Optic Sensor is growing rapidly and expected to gain prominence over the forecast period.
The fiber optic cable connected to a remote sensor or an amplifier that has the ability to convert light energy into electrical signal is referred to fiber optic sensor. It is used to sense temperature, pressure, rotation, vibrations, and concentration of chemical species. It can be used in places which is having high voltage electricity or any flammable material as it is a bad conductor of electricity and possess immune characteristics for electromagnetic interference.
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The growing demand for Fiber Optic Sensor in consumer electronics market and factors such as high tolerance capacity, is further driving growth of the global Fiber Optic Sensor Market. The growth and advancements in various regions and trend towards smart building is boosting the Fiber Optic Sensor market. Therefore it is expected that Fiber Optic Sensor market would grow significantly in the coming years.
Segments for Fiber Optic Sensor Market:
Global Fiber Optic Sensor Market can be segmented as follows:
- Segmentation by Type: Intrinsic and extrinsic fiber optic sensors.
- Segmentation by Component: Transmitters, receivers, optical amplifiers, fiber optic cable and others.
- Segmentation by End-Users: Defense, energy & power, medical, transportation, industrial and others.
Key Players
Some of the major players in Global Fiber Optic Sensor Market includes ABB Ltd. (Switzerland), Yokogawa Electric Corporation (Japan), OmniSens S.A. (Switzerland), Deltex Medical Group PLC (UK), Finisar Corporation (U.S.), AP Sensing GmbH (Germany), Sumitomo Electric Industries Ltd. (Japan), AFL Group (U.S.), Luna Innovations Incorporated (U.S.), and, others.
Regional Analysis:
Geographically, North America is expected to dominate the fiber optic sensor market during the forecast period 2016-2022 followed by Europe. The North America market further classified into its major countries U.S., Canada and Mexico. The companies in the region is focusing in increasing their production and improving their distribution network. Also, increasing demand of handheld devices in smart control system of factory automation is expected to propel the market growth of fiber optic sensor in the region. Asia-Pacific is expected to be the fastest growing market in fiber optic sensor market due to growing demand of fiber optic sensors in oil& gas and construction industry in the region. Also, rising need of handheld devices and electronic systems is expected to fuel the growth of fiber optic sensor market in the region by the end of 2022.
Industry News
Jan 2018 – Photon Control Inc., a leading developer and supplier of optical measurement technologies to the global semiconductor industry, announced the release of a 4-channel temperature converter. This Multi-Channel system is a single electronic enclosure for 4 channels that would reduce the space required for temperature sensing systems. Photon Control’s temperature converters supply the highest accuracy measurement to the industry over a broad operating range. To meet the demanding and stringent requirements of high RF (Radio-Frequency) semiconductor process control applications, these converters are designed and developed.
Feb 2018– Mississauga, Ontario-based Augusta Industries Inc., is a maker of fibre optic sensor monitoring systems that serves for the oil and gas industry has announced that they have created a wholly owned subsidiary to initiate the process of implementing block chain technology. This block chain technology would create a next technological revolution that would be used for storing and sharing distributed data from multiple input sources. The technology would also provide the company with the capability to transfer any digital data between multiple participants in a secure and auditable fashion.
Dec 2017– Adelos, Inc. and the U.S. Navy entered into a Cooperative Research and Development Agreement (CRADA) to develop new capabilities related to Phosonic™ 3.0+ fiber optic sensor system for border and perimeter security applications. Adelos, Inc. specilaizes in fiber optic sensor systems for a range of advanced US government and commercial applications and is an applied research and product development company. The CRADA represents specific collaborative areas of research between the U.S. Navy and Adelos, and extends a long-term, valuable relationship between the research partners. These areas involve advanced materials design, acoustic signal processing applications, target classification algorithms, and other areas of interest to the US Government.
Feb 2018– Acorn Energy has completed its DSIT Sale and started providing funding for focused IoT Wireless Remote Monitoring and Control Business. Acorn would also receive an additional $500,000 in the event that DSIT is successful in securing a multi-million dollar contract related to DSIT’s new state-of-the-art fiber-optic monitoring technologies. This amount would be held in escrow for twenty months and could be reduced by any representation or warranty claims by the purchaser group.
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Target Audience:
- Device manufacturers
- Component manufacturers and suppliers
- Maintenance and service providers
- Technology investors
- Suppliers & distributors
- Research & consultancy
- End-users
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