NEW YORK, April 18, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global distributed fiber optic sensor market size is set to reach $1.9 billion, growing at a CAGR of 15.0% between 2017-2023. The increasing demand from oil & gas vertical, increased investment in homeland security along with surge in capital funding for oil & gas recovery in developed countries and the rising demand from civil engineering vertical for structural health monitoring (SHM) are driving the growth of market.
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Based on scattering process, the distributed fiber optic sensor market is classified into Raman scattering effect, distributed fiber bragg grating sensor, interferometric distributed optical-fiber sensor, Brillouin scattering effect and Rayleigh scattering effect. Raman scattering process contributed the largest share in the global market. However, Rayleigh scattering process is expected to register highest growth during the forecast period on account of growing number of connected devices, rising internet subscribers along with increasing BYOD trend.
Based on operating principle, the distributed fiber optic sensor market is segmented into optical time domain reflectometry (OTDR), optical frequency domain reflectometry (OFDR) and optical low coherence reflectometry (OLCR). The different methods have tradeoffs in range, resolution, speed, sensitivity and accuracy. In addition, OTDR is expected to contribute the largest revenue share to the global market in 2023, while OFDR is expected to be the fastest growing segment during the forecast period.
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The key players in the distributed fiber optic sensor market include Halliburton Company, Schlumberger Limited, Weatherford International plc, Yokogawa Electric Corporation, Luna Innovations Incorporated, QinetiQ Group plc, Bandweaver, OFS Fitel LLC, Brugg Kabel AG, OmniSens S.A., Ziebel AS, AFL Global, and AP Sensing GmbH.
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