The fiber optic sensor consist of fiber optic cable connected to a remote sensor or an amplifier and has the ability to convert light energy into electrical signal. It is used to sense temperature, pressure, rotation, vibrations, and concentration of chemical species. The fiber optic sensor have various applications in the field of remote sensing as it reduces electrical power and is small in size thereby can be easily fit in small areas. It is bad conductor of electricity and possess immune characteristics for electromagnetic interference thereby can be used in places which is having high voltage electricity or any flammable material. Further, the major advantages of fiber optic sensor over conventional sensors are: ideal for microwave, and harsh & hostile environment, can monitor wide range of physical & chemical parameters and consist of thin, low-less glass wire having higher refractive index than its surrounding region which allows light to propagate through single or multimode fiber.
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The high demand of fiber optic sensors in Oil & gas and construction industry are the major growth drivers of fiber optic sensor market during 2016-2022. Fiber optic sensor has high tolerance capacity and well suited for extreme temperature conditions thereby propelling its market growth in industrial as well as in energy & power sector. Also, growing deployment of fiber optic sensors in smart buildings, defense service operations, and in medical sector is expected to drive the market growth in the upcoming future. However, high installation cost and high sensing capability might hamper the growth of fiber optic sensor market during forecast period 2016-2022.
Globally the Fiber Optic Sensor Market is expected to grow at the rate of more than ~11% from 2016 to 2022.
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.
Fiber Optic Sensor Global Market – Competitive Analysis
The Market of Fiber Optic Sensor market is very competitive in nature. Therefore, to maintain their market position and to drive the market growth, various companies are striving. The companies are developing new strategies to achieve a significant market share. The key players are innovating continuously and increasingly seeking market expansion through extensive research and development. Competitors are also focusing towards customer satisfactions and innovation as the major focus for maintaining the market positions. The large enterprises are focusing towards production of innovative products and strategic partnerships. There is an ongoing innovation in the field of fiber optics sensors. Recently, the researchers from the University Of Warwick (WMG) have developed a new type of sensor. This sensor measures the internal battery temperatures which has an ability to recharge them faster and without any overheating issues.
Global Fiber Optic Sensor Market – Report Segment
For an easy understanding the Global Fiber Optic Sensor Market is segmented in to 3 major dynamics.
- Segmentation by Type: Comprising – Intrinsic and extrinsic fiber optic sensors.
- Segmentation by Component: Comprising – Transmitters, receivers, optical amplifiers, fiber optic cable and others.
- Segmentation by End-Users: Comprising – Defense, energy & power, medical, transportation, industrial and others.
Fiber Optic Sensor Market – 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 are focusing on 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 for fiber optic sensors 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.
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