Fiber Optic Sensor Market to Cross US$ 7.6 Billion Due to Surging demand for Temperature Control Says Transparency Market Research

Wilmington, Delaware, United States, April 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global fiber optic sensor market was reached at a sum of USD 3.4 billion in 2022. Sales would reach a CAGR of 9.6% between 2023 and 2031 and reach US$ 7.6 Bn by the end of 2031

Astonishing demand for fiber optic sensors will be driven by telecommunication industry. Demand for high-speed data transmission with a great bandwidth will help fiber optic sensors market to expand.

Sensitivity, stability, and accuracy of fiber optic sensors are used to control temperature. These sensors are will allow the users to measure temperature in harsh condition and over a long distance.

There is an increasing demand for fiber optic sensors in building & construction sector. As it helps in monitor a range of parameters such as temperature, humidity, and strain, to ensure the safety and structural integrity of buildings.

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Market Snapshot:

Key Findings of the Market Report

• The global fiber optic sensor market is set to be worth at USD 7.6 billion through 2031 & beyond.
  
• The Temperature sensing segment is set to hold mammoth share during the projected period and hold about 34.23% shares in the market.
  
• The through beam sensor division was held about 42.34% share at the end of 2022 and exhibit a CAGR of 10.2% between 2023 and 2031.
  

Global Fiber Optic Sensors Market Trends

• Increasing application of fiber optic sensors in automotive industry. Owing to its features such as flexible light, high heat resistance these are used to know about the direction and path of vehicles.
  
• Adoption of fiber optic sensor in electric/hybrid vehicles because of its fast response, accuracy, small size, and electromagnetic field immunity.
  
• Burgeoning demand for fiber optic sensor from oil & gas industry. It offers various advantages such as they can be operated in high temperature, small in size, less risky.
  
• Development of new and smart sensors will provide an opportunity for growth. Researchers are working on developing innovative sensors that are able to detect temperature, strain, and chemical composition.
  
• Astonishing demand for high speed communication is likely to bode well demand in the global market. The optical fiber sensor will help in transmission of data over long distance.
  
• Healthcare sector is also benefitted by the fiber optic sensors. It can be used in a range of medical applications such as diagnostic imaging, minimally invasive surgeries, and patient monitoring.
  

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Regional Landscape for the Market

• Asia Pacific fiber optic sensor market was hold about 34.23% shares in 2022.
• North America is set to possess around 28.79% shares in the global fiber optic sensor market by the end of 2022.
• China is set to hold lion’s share in the Asia pacific fiber optic sensor market and hold a valuation of USD 0.51 billion in 2022.
  

Global Fiber Optic Sensors Market: Key Players & Recent Developments

Several key players in the market such as The Apollo Water Sensor, RBtec Perimeter Security Systems, Accelovant, NEC Corporation, Sumitomo Electric Industries, Ltd. etc. Key manufacturers are innovating new models with nobel technologies and they are also engaged in partnership with other market players. Some recent development would include -

• In February 2023, The Apollo Water Sensor platform is a new optode-based sensor system that Intelligent Optical Systems, Inc. ("IOS") recently revealed. It was designed for precise measurements in difficult settings.
• In March 2023, The first DAS system intended for medium-sized facilities (1-6 miles/1.5-10 kilometers) has been launched, according to RBtec Perimeter Security Systems.
• In November 2022, KLV Co., Ltd. and Accelovant have signed a contract, as reported by Accelovant.
• In June 2021, NEC Corporation declared that it has started selling its "NEC Intelligent Optical Fiber Sensing Solution," which enables Communications Service Providers (CSP) or fiber optic users from across the globe to use optical fiber for a sensor.
• In March 2020, The OPTHERMOTM FTS3500 fiber-optic global temperature sensor system from Sumitomo Electric Industries, Ltd.
  

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Fiber Optic Sensors Market Segmentation

By Type

1. Diffused Sensor
2. Through Beam Sensor

By Range

1. Up to 100 mm
2. 101 to 500 mm
3. 501 to 1000 mm
4. 1001 to 2000 mm
5. Above 2000 mm
   

By Application

1. Temperature Sensing
2. Pressure Sensing
3. Strain Sensing
4. Acceleration Sensing
5. Others (Level sensing, Voltage Sensing, etc.)
   

By End-use Industry

1. Energy & Power
2. Oil & Gas
3. Industrial & Construction
4. IT & Communication
5. Aerospace & Defense
6. Automotive & Transportation
7. Healthcare
8. Others (Marine, Chemical, etc.)

By Region

1. North America
2. Latin America
3. Europe
4. Asia Pacific
5. Middle East & Africa
   

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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