The global distributed fiber optic sensor market is projected to generate $2,285 million revenue by 2030, advancing at a CAGR of 8.5% during 2021–2030. This can be attributed to the rising digitalization and automation to meet the surging demand for productivity, efficiency, and safety across a variety of operations, and the increasing adoption of distributed fiber optic sensors in the oil and gas and civil engineering verticals. Moreover, the high functionality of such sensors is encouraging enterprises to invest in the technology and engage in R&D practices, which further fuel the market demand.
Based on vertical, the market is categorized into oil & gas, energy and utility, safety and security, infrastructure and civil engineering, industrial, and others. Among these, the oil & gas category accounted for the largest revenue share, of around 34%, in 2021 and is further expected to maintain its dominance during the forecast period. This is because such sensors are widely used for specific monitoring of well temperature and obtaining an authentic picture of physical parameters of wellbores. Additionally, the market is growing as a result of the usage of fiber optics for distributed temperature sensing (DTS) and distributed acoustic sensing (DAS), which help to resolve common problems in the oil & gas industry.
Based on fiber type, the market is bifurcated into single-mode and multi-mode fiber. Of these, the multi-mode fiber category held a larger revenue share in 2021 and is further expected to maintain its position in the coming years. This is because its offers high bandwidth at high speeds over medium distances, which is widely used in distributed fiber optic sensors. Moreover, the mounting demand for high-speed connectivity, the rising internet penetration, and the growing mobile data traffic are the factors contributing to the industry expansion in this category.
Based on application, the market is classified into temperature sensing, acoustic sensing, strain sensing, pressure sensing, and others. Among these, the temperature sensing category contributed the majority of revenue to the market in 2021 and is further expected to dominate the industry in the coming years. This is ascribed to the increasing demand for DTS systems to monitor harsh working conditions and improve the safety & security of the systems.
However, the acoustic sensing category is projected to witness significant growth during the forecast period. This can be attributed to the wireless and passive nature of acoustic sensors and distributed acoustic sensors are used to note any change in vibration with the help of a distributed optical fiber.
Geographically, North America accounted for the largest revenue share in 2021 and is further expected to lead the market during the forecast period. This is due to the presence of the huge oil and gas industry, the surge in the demand and production of oil and energy, and the recent upsurge in crude oil prices pushes oil & gas companies to implement more accessible and effective support systems to increase their capacity for profit generation, in the regions.
Some of the major players in the distributed fiber optic sensor market are Schlumberger Limited, Halliburton Company, Yokogawa Electric Corporation, Weatherford International plc, QinetiQ Group, Luna Innovations Incorporated, OFS Fitel LLC, Bandweaver, Omnisens SA, Brugg Kabel AG, AP Sensing GmbH, and Ziebel AS.