High Speed Fiber Optic Sensor market size, share & industry analysis, By Type (Point FOS, Distributed FOS), By Application (Industrial, Medical, Transportation, Energy and Utility, Military, Oil and Gas, Civil Engineering) and regional Forecast, 2024-2032

The field of fiber optics has shown incredible growth and advancement for the past 25 years. High performance and reliability features of high-speed fiber optic sensors have literally revolutionized the telecommunication as well as offshore industries. The fiber optic sensors are preferred over traditional sensors for their more enhanced vibration, acoustics, magnetic and electric field measurement, pressure, and other features. High-speed fiber optic sensors are mainly designed for high temperatures, high voltage, and corrosive environments owing to their dielectric property. These factors have fuelled the use and demand for high-speed fiber optic sensors in various industrial, military, and power and utility fields. Moreover, growing advancements in research and development of fiber optic sensors devices have extended their use in various fields of technology like telecommunications, chemical, and medical.

Recently, high-speed fiber optic sensors have attained increased attractiveness and market acceptance owing to its wide spectrum of advantages such as longer lifetime and small size.  These sensors are also adopted in certain applications where conservative sensors cannot offer the same richness of information and are difficult to deploy compared to high-speed fiber optics sensors. Furthermore, these sensors show rigid sensing task over conventional electronic and electrical sensors.

Key Players Covered:

The companies in the market including Rockwell Automation, STMicroelectronics, ON Semiconductor, Micron Optics among others aims at adopting innovative approaches to increase their market share. They are focused on product development and the expansion of their operational activities across the world. To attain this, the companies are adopting inorganic growth strategies like partnerships and acquisitions and market penetration strategies to reach out to various customers worldwide. The companies are also aiming at improving their sales channel strategies and business development activities to stay competitive in the market.

Regional Analysis

North America leads the high-speed fiber optic sensors market globally as the companies in this region are quick in adopting new technologies in their operation. Also, the growing demand for high-speed fiber optic sensors in offshore industries like oil and gas is driving the growth of the North American market. Furthermore, high penetration of safety and security industries along with infrastructure and construction sectors in Asian countries is expected to propel the growth of the market in the Asia Pacific.

Segmentation

Key Industry Developments

• June 2020 – Silixa together with Reliance OFS to offer enhanced and powerful fibre optic wireline installation services in Canada.


• October 2019 – SKF introduced fiber optic sensors based commercial load sensing bearing to speed up technical product development.