Asia Pacific Fiber Optic Sensor Market Key Players and Opportunities by 2028
Asia Pacific Fiber Optic Sensor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Temperature Sensing, Pressure Sensing, Acoustic Sensing, Strain Sensing, and Others) and Vertical (Oil & Gas, Manufacturing, Infrastructure, Power and Utilities, and Others)
- Status : Published
- Report Code : TIPRE00025826
- Category : Electronics and Semiconductor
- No. of Pages : 126
- Available Report Formats :
- Last update date : November 13, 2021
2021 Market Size
US$ 619.5 Mn
Base year value
2028 Forecast
US$ 1,376.0 Mn
Projected by 2028
CAGR 2022-2028
12.1 %
Growth rate
Addressable Market
US$ 7,028.02 Mn
(2022-2028)
The Asia Pacific fiber optic sensor market is expected to reach US$ 1,376.0 million by 2028 from US$ 619.5 million in 2021. The market is estimated to grow at a CAGR of 12.1% from 2021–2028.
Baumer Group; Davis Instruments; Keyence Corporation; Omnisens SA; OMRON Corporation; Halliburton Energy Services, Inc.; and Luna Innovations Incorporated are among the prominent manufacturers of fiber optic sensors. In May 2021, Halliburton Company collaborated with TGS-NOPEC Geophysical ASA; through this collaboration, the companies aim to offer oil & gas plant operators with improved insights to decide their reservoir potential for oil & gas production or carbon storage. The Halliburton FiberVSP and Odassea distributed acoustic sensing solutions would be embedded with seismic imaging workflows of TGS, which process the whole seismic wavefield to produce high-resolution reservoir images. Further, Luna Innovations unveiled a new measurement solution enabled with the improved fiber-optic sensing technology; the solution is optimized for greater precision and authentic high-definition distributed temperature measurements. The Optical Distributed Sensor Interrogator (ODiSI) platform of Luna is the industry’s one and only high-definition fiber optic temperature measurement system that is capable of eliminating the error-causing impacts of mechanical strain on fiber optic temperature sensors. Thus, with more such developments, the demand of fiber optic sensors would increase in the coming years.
Japan and India are the other two countries that have large number of electronics and semiconductor manufacturers as well as end users. These two countries have also registered higher number of COVID-19 infected cases and are still continuing the battle against the spread. Though the countries have eased the lockdown norms and have allowed the manufacturing plants to operate, the decrease in demand and supply has been severely affecting the fiber optic sensors market player in both the countries. The recovery period is expected to be by late 2021 as the entire electronics and semiconductor manufacturing sector has been rigorously affected.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the fiber optic sensor market. The Asia Pacific fiber optic sensor market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Asia Pacific Fiber Optic Sensor Market Segmentation
By Vertical
- Oil & Gas
- Manufacturing
- Infrastructure
- Power and Utilities
- Others
By Application
- Temperature Sensing
- Pressure Sensing
- Acoustic Sensing
- Strain Sensing
- Others
By Country
- Asia Pacific
-
-
-
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
-
-
Companies Mentioned
- Omnisens SA
- Solifos AG
- Baumer Holding AG
- Keyence Corporation
- OMRON Corporation
- Luna Innovations Inc.
- SICK AG
- Yokogawa Electric Corporation
Asia Pacific Fiber Optic Sensor Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 619.5 Million |
| Market Size by 2028 | US$ 1,376.0 Million |
| CAGR (2021 - 2028) | 12.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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