$4550
$2730
The fiber optic sensor market is projected to reach US$ 5,506.24 million by 2028 from US$ 2,980.47 million in 2021; it is estimated to register a CAGR of 9.16% during 2021-2028.
Optical fiber 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 vibrations. The optical sensors are capable of linear and seamless sensing rather than distributed sensing; moreover, in communications applications, they serve as sensors and no electricity is needed for the sensing operations. The fiber optic sensors can also be used in high-voltage, high-temperature, or corrosive environments. Further, these sensors are capable of remote sensing. They are found in applications of oil & gas, manufacturing, infrastructure, power and utilities, automotive, and healthcare sectors, among others. In June 2019, Luna entered into a license agreement with Meggitt. This agreement is aimed at supplying fiber optic components and technology for aircraft fire and overheat detection equipment.
Impact of COVID-19 Pandemic on Fiber Optic Sensor Market
The COVID-19 pandemic created enormous disruption across industries, including electronics and semiconductors. Every phase of the business model has witnessed a drastic change, including the manufacturing units, capital expenditures, R&D, demand, supply chain, production decisions, and mergers and acquisitions (M & M&A). Over the past several months, the COVID-19 outbreak had severely challenged the electronics and manufacturers in strategy making. The disruption among raw material suppliers, temporary closure of manufacturing units, limited funding, and weak demand from customers have showcased adverse impact on the electronics and semiconductor manufacturers.Lucrative Regions for Fiber Optic Sensor Providers
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Fiber Optic Sensors: Market Insights
Escalating Demand in Automotive Sector Fuels Growth of Fiber Optic Sensors Market
In the automotive sector, fiber optic sensors are used in lighting applications. The fiber transmits cold light, making it a safe alternative to traditional sealed beam or halogen lighting. Apart from the safety advantages, the light source is easily accessible and offers greater freedom of design. The deployment of fiber optics also allows the separation of light source and output location, thereby providing high-performance lighting options with reduced physical space requirements, making them suitable for difficult and restricted access locations. The sensors are also used in automobiles in onboard safety devices and systems, such as operating airbags, traction control devices, and safety systems. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), ~91.3 million vehicles were sold across the world in 2019. Further, the rising disposable incomes, mainly in emerging countries in APAC, promotes the sales of passenger vehicles, in turn, will fuel the adoption of fiber optic sensors. Thus, the rising annual automotive sales are a significant factor contributing to the growth of the fiber optic sensor marketApplication-Based Market Insights
Based on application, the fiber optic sensor market is segmented into temperature sensing, pressure sensing, acoustic sensing, strain sensing, and others. The temperature sensing segment held the largest market share in 2020.Fiber Optic Sensor Market, by Application, 2020 and 2028 (%)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Vertical-Based Market Insights
Based on vertical, the fiber optic sensor market is segmented into oil & gas, manufacturing, infrastructure, power and utilities, and others. The oil & gas segment held the largest market share in 2020.
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Fiber Optic Sensor Market: Strategic Insights
Market Size Value in US$ 2,980.47 Million in 2020 Market Size Value by US$ 5,506.24 Million by 2028 Growth rate CAGR of 9.16% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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The players operating in the fiber optic sensor market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Fiber Optic Sensor Market: Strategic Insights
Market Size Value in | US$ 2,980.47 Million in 2020 |
Market Size Value by | US$ 5,506.24 Million by 2028 |
Growth rate | CAGR of 9.16% from 2021-2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst- In April 2020, AOMS Technologies and PCL Construction entered a partnership to make IoT-enabled "Smart Construction" a new reality. This partnership is expected to further enhance Job Site Insights (JSI) and PCLS's cloud-based construction platform.
- In May 2020, Omnisens SA announced the release of ODAS, its new family of Distributed Acoustic Sensing (DAS) interrogators that combines chirped pulse laser technology with Omnisens' techniques on programmable chirp coding and modulation.
The global fiber optic sensor market has been segmented as mentioned below:
By Application
- Temperature Sensing
- Pressure Sensing
- Acoustic Sensing
- Strain Sensing
- Others
By Vertical
- Oil & Gas
- Manufacturing
- Infrastructure
- Power and Utilities
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- AOMS Technologies
- Davidson Instruments
- Omnisens SA
- Solifos AG
- Baumer Holding AG
- Keyence Corporation
- OMRON Corporation
- Luna Innovations Inc
- SICK AG
- Yokogawa Electric Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application, and Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America is the largest revenue generator in the Fiber Optic Sensor market compared to the other regions. North America is one of the leading region in terms of manufacturing. The availability of efficient infrastructure in countries such as the US, Canada, and Mexico has enabled manufacturing companies to explore the limits of science, technology, and commerce. The US is a technologically and economically developed country with elevated standards of living, modern infrastructure, and so on. Technological advancements have led to a highly competitive market in North America.
Oil demand is increasing continuously across the world. For instance, the global oil demand would rise to 5.7 mb/d during 2019–2025, at an average annual rate of 950 kb/d. Following a difficult start in 2020 (-90 kb/d) due to the onset of COVID-19 worldwide, growth has rebound to 2.1 mb/d in 2021, while it is likely to decelerate to 800 kb/d by 2025, with projected stagnancy in the demand for transport fuels. The slow growth in oil demand is ascribed to the rise in preference for diesel and gasoline in internal combustion engine vehicles and rapid commercialization of electric vehicles. According to a report by the IEA, petrochemical feedstock, including LPG or ethane and naphtha, would account for nearly 50% of the total rise in demand for oil products, which is attributed to continuously increasing demands for plastics and cheap natural gas liquids.
The temperature segment led the end user segment. The temperature sensor applications can be installed in motors, surface plates, home applications, computers, industrial equipment, warning electric radiators, motorsport vehicles’ exhaust gas systems, and alcohol breathalyzers, among other application bases. The temperature sensors also find applications in transit, power and utilities, calibration and instrumentation, heat exchangers, industrial processes, drilling, heating/cooling systems, laboratory, and energy sector. Further, with the ongoing proliferation of power & utilities and other manufacturing industries, the adoption of temperature sensors would also increase in the future.
AOMS Technologies, Omnisens SA, Omron Corporation, OptaSense Ltd. (Luna Innovations), and Solifos AG are the five key players in the global Fiber Optic Sensor market. These companies have shown consistent growth in revenue and larger volumes of sales. In addition, the well-established top five players are offering a comprehensive product portfolio and have a prominent presence in terms of share in the global market.
The Fiber Optic Sensor market is expected to grow at a CAGR of 9.16% during the forecast period. Factors such as surging applications in the oil & gas sector, and growing demand in the automotive sector are fueling the fiber optic sensor market growth. However, the difficulties associated with the installation of fiber optic sensors is restraining the market growth. Moreover, the development of smart cities and growing developments of fiber optic sensors are providing opportunities for the future growth of the market players.
By vertical, the Infrastructure segment is expected to grow at the fastest CAGR during the forecast period. Every type of public infrastructure, including bridges, pipelines, tunnels, foundations, roadways, and dams, is subject to malfunction due to factors such as deterioration, seismic activity, or improper construction methods. Thus, optical fiber strain gauges based on fiber Bragg gratings (FBGs) serve the purpose of detection and recording. In addition, the FBGs are sensitive to temperature, which allows their use in temperature monitoring; this also signifies it is a good practice to combine a temperature sensor with a strain sensor to allow for the compensation of the effect of temperature on the strain sensor.
The List of Companies - Fiber Optic Sensor Market
- AOMS Technologies
- Davidson Instruments
- Omnisens SA
- Solifos AG
- Baumer Holding AG
- Keyence Corporation
- OMRON Corporation
- Luna Innovations Inc
- SICK AG
- Yokogawa Electric Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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