Oct 15 2014
This BCC Research study analyzes the status of global markets for fiber optic sensors, taking into account market conditions and opportunities in regional areas spread worldwide. It also considers potential new applications that will emerge in the next five years. It defines product segments for optical coating technology categories, analyzes technology options and determines current application markets as well as likely future opportunities.
Additionally, this report defines and graphically analyzes fiber optic sensor markets from many perspectives.
Use this report to:
- Receive a comprehensive analysis of the global market for fiber optic sensors.
- Receive information on government regulations in the industry.
- Receive information on industry structure and the competitive landscape
- Receive information on various types of sensors, technologies used, and their applications.
Highlights
- The global market for fiber optic sensors reached $1.7 billion in 2012 and about $1.8 billion in 2013. This market is projected to increase to $2.2 billion by 2018, with a compound annual growth rate (CAGR) of 4.5% for the period of 2013 to 2018.
- Intrinsic sensors, as a segment, is projected to increase from nearly $1.5 billion in 2013 to about $1.7 billion by 2018, with a CAGR of 3.0% for the period of 2013 to 2018.
- Extrinsic sensors, as a segment, is projected to increase from $322.9 million in 2013 to $528.4 million by 2018, with a CAGR of 10.4% for the period of 2013 to 2018.
INTRODUCTION
STUDY GOALS AND OBJECTIVES
This BCC Research study analyzes the status of global markets for fiber optic sensors. Fiber optic sensors (FOS) began as a byproduct of telecommunications. The first
sensors were designed to measure the performance and status of optical fiber networks. Optical networks transmit voice and data across the U.S. and around the
world. The networks require constant monitoring to ensure signal transmission along the fibers in the network. Faults or flaws along the length of the fiber affect the characteristics of the transmitted signal in measurable ways. Differences in temperature, strain and pressure can be measured over long distances. The ability to multiplex a large number of wavelengths along a single fiber offers a means to gather a large amount of data from a single fiber.
With the ability to operate in harsh environments and imperviousness to electromagnetic interference, FOS can be applied in conditions in which electronic sensors fail. The cost of FOS technology remains higher than electronic sensors, thus FOS have penetrated only where the unique advantages of FOS justify the higher expense, or in which they are the only option for a harsh environment. This report considers market conditions and opportunities in regional areas around the globe. The report also considers potential new applications that will emerge in the next five years. Recovery from the recession of 2008 and 2009 affected industry growth in the near term, but future growth opportunities are strong.
Optical fiber sensors measure temperature, pressure, humidity, acceleration and strain, and they can operate in harsh conditions. This report considers the different types of
sensors, what they can measure and where they are used. This report does not consider sensors for the telecommunications market. Optical fiber sensors are used in energy, medicine, defense, industrial, security, structural and transportation applications. Fiber optic sensors found a lucrative niche in the oil and gas market, as they opened an entire new revenue stream for service providers. However, improvements in sensor robustness will be required for FOS to realize their potential in this market.
Although familiarity with fiber sensor technology has increased and sensor prices have decreased, fiber sensors still find the most application in areas where electronic
sensors cannot compete. In cases in which fiber optic sensors attempt to replace existing electronic technology that meets the defined need adequately and for lower
cost, the electronic option still dominates. Cost and unfamiliarity remain the primary barriers to fiber optic sensor growth into new applications. This report provides a standard five-year planning cycle and revenue estimates through 2018. It defines product segments for optical coating technology categories, analyzes technology options and determines current application markets as well as likely future opportunities.
Additionally, this report defines and graphically analyzes these fiber optic sensor markets from many perspectives, categorizes and profiles the companies involved, defines unique nomenclature, and details policy organizations, conferences, authors and consortiums.
REASONS FOR DOING THE STUDY
The world has benefited immensely from the development of electronic technology and sensors. But electronics have several inherent limitations in terms of ultimate speed of function and environmental limitations on performance. Optical technologies offer the promise of faster speeds and the ability to operate under harsher conditions. However, before an optical revolution can occur, supporting technologies such as sensors must be developed. Fiber optic sensor technology represents a critical feedback technology that will be applied in optical devices and systems, existing and yet to be developed. As sensing options increase, engineers and developers will be able to make all optical systems a future reality. Sensors may not be the most buzz-worthy market, but they are essential.
SCOPE OF REPORT
This BCC Research business opportunity report covers, with a critical eye, the global fiber optic sensors marketplace. It focuses particularly on the markets and opportunities for fiber optic sensors in oil and gas exploration and drilling, medical, and industrial markets. The study considers future opportunities for new application markets. This study is presented in easy-to-follow sections that overview this subject, define the technology, segment the market by product type and application, profile companies, and identify suppliers. All dollar amounts are expressed in current 2014 U.S. dollars.
INTENDED AUDIENCE
This report is a complete market information source for serious players in the fiber optical sensors marketplace. Network systems integrators can use this report to assess
the status of the fiber optic sensor market to identify suppliers and systems integrators and forecast future markets. Market managers will be able to assess the competition and identify customers and new suppliers for components. Management consultants can determine whether companies divest or invest in fiber optic technology based in part on the market projections, competitive strengths and development issues revealed in this report.
Equipment managers can develop or modify existing products to address the fiber optic technology manufacturing concerns discussed in this report. Material suppliers
can identify market opportunities and new customers based on the study's projected growth in applications. Venture capital managers will be able to identify targets for investments, mergers or acquisitions based on companies identified and described in this report. Strategic planners can identify other companies with critical strains to strategically partner with so they can share in the overall fiber optic technology growth as projected in this report.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methodologies were used in preparing this report. Materials and data were obtained from telephone interviews with marketing
and engineering personnel at the major companies profiled, as well as from the Internet, market patterns and a literature search of current articles related to optical
fiber sensors technology. The analysis and conclusions presented in this study are the result of significant research into both producers and users of fiber optic sensor technology.
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