The Fiber Optic Sensor Market Is Expected To Exceed USD 7.2 Billion By 2030, Growing At A CAGR Of 11.5% during the forecast period 2023-2030.

Fiber Optic Sensors Market Overview:

Fiber optic sensing is a technology used to measure chemical changes, strain, temperature, electric and magnetic fields, pressure, displacement, rotation, radiation, liquid level, flow, light intensity and vibration. Optical sensors are capable of linear and seamless sensing instead of distributed sensing; moreover, in communication applications, they act as sensors, and no power is required for sensing operations. Fiber optic sensors can also be used in high-pressure, high-temperature or corrosive environments. Additionally, these sensors are capable of remote sensing. They are widely used in oil and gas, manufacturing, infrastructure, power and utilities, automotive, and healthcare. In June 2019, Luna entered into a licensing agreement with Meggitt. The agreement aims to provide fiber optic components and technology for aircraft fire and overheat detection equipment.

Fiber Optic Sensors market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Fiber Optic Sensors market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In April 2020, AOMS Technologies and PCL Construction entered into a partnership to make IoT-enabled "smart buildings" a new reality. The partnership is expected to further enhance Job Site Insights (JSI) and PCLS' cloud-based build platform.
• In May 2020, Omnisens SA announced the release of ODAS, a new family of its Distributed Acoustic Sensing (DAS) interrogators that combine chirped pulsed laser technology with Omnisens' programmable chirp encoding and modulation technology.

Major Segments Covered in the Global Fiber Optic Sensors Market:

Market Key Players:
Micron Optics, Honeywell, FISO Technologies, Omron, FBGS TECHNOLOGIES GMBH, Proximion, Smart Fibres Limited, Sensornet, ITF Labs / 3SPGroup, Keyence, IFOS, NORTHROP GRUMMAN, O/E LAND, Inc, KVH, Photonics Laboratories, Chiral Photonics, FBG TECH, OPTOcon G, And Others.

Fiber Optic Sensors Market by Types:

• Intensity Modulated Fiber Optic Sensors
• Phase Modulated Fiber Optic Sensors
• Wavelength Modulated Fiber Optic Sensors
• Polarization Modulated Fiber Optic Sensors

Fiber Optic Sensors Market by Applications:

• Acoustic sensing
• Temperature sensing
• Chemical sensing 
• Another level sensing

• Oil & Gas
• Buildings and Bridges
• Tunnels
• Dams
• Heritage structures
• Power grid
• Aerospace Applications

Fiber Optic Sensors Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030. In the European distributed fiber optic sensors market, Germany accounted for an 18.7% share in 2021. Germany is one of the largest consumers and manufacturers of military equipment in Europe. This will give manufacturers of distributed fiber optic sensors greater scope for growth in the military sector as well as in industry and manufacturing, which has a strong presence in Germany.

Significant Market Dynamics:

Drivers:

The main goal behind the growing popularity of distributed sensors in this vertical is a better understanding of the structural condition and cost-effective management of infrastructure. Geotechnical structures, pipelines, bridges, and dams are major areas where structural health monitoring is gaining popularity in the civil engineering industry.

A key advantage of next-generation sensors is the ability to measure strain, temperature, or pressure at multiple locations simultaneously. At the same time, the ability to deploy distributed sensors in any challenging environment and real-time tracking of structural failures are the key reasons for the increased application of distributed sensing in the civil engineering industry.

Restraints:

Optical fibers must be handled with care to avoid breakage during installation. Although the design of sensor cables has greatly improved, incorrect cable deployment may not yield accurate data. Due to the high cost involved in the installation and operation of fiber optics, such failures may cause customers to be indifferent to the technology in future projects.

The deployment of cables is always risky and thus, any carelessness during the deployment or installation of fiber optics can affect the readings recorded by the sensors and cause malfunctions, thereby restraining the growth rate of the market.

Opportunity:

Distributed fiber optic sensors collect data along the length of the fiber. This provides a lot of data, so various analytical tools are used to analyze the collected data. Across the globe, there is an increasing need to implement data-driven decisions and strategies.

These are done by finding a pattern in the data that managers can measure and then decipher insights to make better decisions and improve performance. Distributed fiber optic sensors collect data on changes in temperature, strain, vibration, or pressure at any point along the length of the fiber through light scattering.

The data is then processed using a set of algorithms, and the software can organize large amounts of data into a visualization platform that helps data engineers make decisions. The distributed fiber optic sensors market is also expected to witness growth over the forecast period as data-intensive decision-making becomes a mainstay across several industries.

Challenges:

Distributed sensor systems enable companies to monitor difficult work environments and obtain high-precision real-time data. The market is growing due to various advantages offered by these distributed sensors such as their accuracy and reliability.

However, the cost of the technology is still relatively high. Depending on the application, the type of cable used, and the operating conditions, the cost of a distributed fiber optic sensor system can be very high, which is still not within the reach of every company that requires real-time monitoring and sensing. Additionally, these systems are expensive to install and maintain, making their implementation difficult. Hence, the high cost of distributed fiber optic sensor systems poses a major challenge to the growth of this market.

Report Scope of Global Fiber Optic Sensors Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Any special requirements about this report, please let us know and we can provide a custom report.

Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.