Global Fiber Optic Sensor Market – Overview
Fiber Optic Sensor Market has witnessed a remarkable growth in the past, the growth is expected to continue in the years to come with 11% of CAGR assures the deep diving study report published by Market Research Future, the report is presented through more than 100 market data tables and figures spread over 100 pages.
The Fiber Optic sensor consists of fiber optic cable connected to a remote sensor or an amplifier and has the ability to convert light energy into electrical signal. The Fiber Optic sensor supports the tasks such as sensing the 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 comes in a compact size, easily fit able in small areas. It is a negative (bad) conductor of electricity and possesses resistant characteristics for electromagnetic interference thereby can be used in places which are having high voltage electricity or any flammable material.
The high demand of fiber optic sensors in Oil & gas and construction industry is the major growth driver 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.
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.
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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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