Use of Fiber Bragg Grating in Sensing Applications to Provide Growth Opportunities for Fiber Bragg Grating Market During 2021–2028
According to our latest market study on “Fiber Bragg Grating Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Industry,” the market is expected to grow from US$ 1,500.6 million in 2021 to US$ 7,435.3 million by 2028; it is expected to grow at a CAGR of 25.7% from 2021 to 2028.
The sensing capabilities of the fiber bragg grating technology have enabled various end users to streamline their operational processing. The sensing capability allows tracking of the particular node or point where deviation or change has been observed. The fiber bragg grating is also widely used in wind turbines for identifying any variations in the set momentum of the blade. Any irregular change in the speed of the wind turbine blade may be a potential sign of a major or minor defect, which could affect the overall energy-generating capability of a wind turbine. Fiber bragg grating technology can sense such deviations effectively.
Based on application, the fiber bragg grating market is categorized into sensing, measuring, and monitoring & others. The sensing segment held the largest share in 2020. Similarly, based on industry, the fiber bragg grating market is segmented into telecommunication, aerospace, energy and utilities, transportation, and others. The telecommunication sector dominated the market in 2020. Fiber bragg grating is one of the major technologies used in the telecommunication industry to deploy optical networks.
Moreover, fiber bragg grating has significant applications in test and measurement equipment used in the telecommunication industry. Further, fiber bragg grating is used as wavelength reference components. Moreover, with the increasing importance of communication across the globe, the telecom infrastructure is growing significantly, which is subsequently driving the fiber bragg grating market.
Impact of COVID-19 Pandemic on Fiber Bragg Grating Market
The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, electronics & semiconductor, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The FBG market players also experienced a decrease in volumes because the manufacturing facilities had a limited workforce.
AOS GmbH; Alnair Labs Corporation; FBGS Technologies GmbH; HBM Fibersensing S.A.; ITF Technologies; Ixblue Photonics; Micron Optics; Proximion AB; and Technica are a few significant companies operating in the fiber bragg grating market.
Fiber Bragg Grating Market – by Geography, 2020 and 2028 (%)
Fiber Bragg Grating Market to Grow at a CAGR of 25.7% to reach US$ 7,435.3 Million from 2020 to 2028
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Fiber Bragg Grating Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (FBG Sensor and FBG Filter & Others), Application (Sensing, Measuring, Monitoring, and Others), and Industry (Telecommunication, Aerospace, Energy and Utilities, Transportation, and Others)
Fiber Bragg Grating Market to Grow at a CAGR of 25.7% to reach US$ 7,435.3 Million from 2020 to 2028
Download Free SampleFiber Bragg Grating Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (FBG Sensor and FBG Filter & Others), Application (Sensing, Measuring, Monitoring, and Others), and Industry (Telecommunication, Aerospace, Energy and Utilities, Transportation, and Others)
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