Fiber Optic Sensor Market Scope 2031
The fiber optic sensor market size is projected to reach US$ 7.16 billion by 2031 from US$ 3.55 billion in 2023. The market is expected to register a CAGR of 9.16% during 2023–2031. Integration of advanced technologies such as intelligent Distributed Acoustic Sensor (iDAS) is likely to remain a key trend in the market.
Fiber Optic Sensor Market Analysis
Fiber optic sensing technology is currently utilized in a range of industries, such as automotive, healthcare, aerospace, civil engineering, manufacturing, and energy. Fiber optic sensors are affordable, light, durable, immune to electromagnetic interference, and able to function in challenging environments. Fiber optic sensors can measure over 60 parameters, such as strain, temperature, internal and applied loads, deflection, and liquid level, enabling various applications. Fiber optic sensors can be placed near significant EMI sources and structures at risk of lightning strikes, unlike conventional electrical sensors. Therefore, the demand for fiber optic sensors is projected to increase in the coming years, particularly in situations where traditional electrical sensors struggle due to harsh weather conditions.
Fiber Optic Sensor Market Overview
Optical fiber sensing technology is utilized for measuring various parameters such as chemical changes, strain, temperature, pressure, electric and magnetic fields, displacement, rotation, radiation, liquid level, flow, light intensity, and vibrations. Additionally, they can be employed in high-temperature, high-voltage, or corrosive environments and are competent in remote sensing. Furthermore, they find applications in various sectors, including oil & gas, manufacturing, infrastructure, power and utilities, automotive, and healthcare. These sensors are not only capable of linear and seamless sensing, but they also function as sensors in communication applications without the need for electricity.
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
Naveen
Have a question?
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
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 |
Naveen
Have a question?
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
Fiber Optic Sensor Market Drivers and Opportunities
Increasing Need in the Automotive Industry to Favor Market Growth
The fiber carries cold light, providing a secure option compared to sealed beam or halogen lighting. Fiber optic sensors are utilized in lighting applications within the automotive industry. In addition to the safety benefits, the light source is conveniently located and allows for more creative design possibilities. The sensors are utilized in cars for onboard safety features, including airbag operation, traction control devices, and safety systems. The use of fiber optics also enables the division of light source and destination, offering advanced lighting choices that require less space, making them ideal for challenging and limited access areas. Additionally, the increasing disposable incomes, particularly in emerging countries in APAC, stimulate the sales of passenger vehicles, which in turn will drive the usage of fiber optic sensors. Therefore, the increasing annual sales in the automotive industry play a crucial role in driving the expansion of the fiber optic sensor market.
Growth in Oil and Gas Industry
The escalating power and energy industry drives the increasing demand for the fiber optic sensor market. This is due to the essential role of optic fiber sensors in surviving high temperatures, a crucial factor in the oil and gas industries. The booming oil and gas industry in the upcoming years is further fueling the demand for fiber optic sensors, as their extraction procedures often involve working at high temperatures unsuitable for human intervention. In these situations, the fiber optic sensor stands as a suitable solution.
Fiber Optic Sensor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the fiber optic sensor market analysis are application and vertical.
- Based on application, the market is segmented into temperature sensing, pressure sensing, acoustic sensing, strain sensing, and others. The temperature sensing segment held a significant market share in 2023.
- In terms of vertical, the market is divided into oil and gas, manufacturing, infrastructure, power and utilities, and others. The oil and gas segment held a substantial share of the market in 2023.
Fiber Optic Sensor Market Share Analysis by Geography
The geographic scope of the fiber optic sensor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North American market is growing significantly owing to the advancement of fiber-based sensors in healthcare and automotive industries. Moreover, the major companies are prioritizing expanding their distribution channels to increase market expansion. Europe is expected to experience consistent growth due to the ongoing need for precise fiber optic temperature sensors in industrial settings. In addition, the steady growth in European countries is being supported by the presence of manufacturers such as Proximion AB, Calex Electronics Limited, Scaime, Althen sensors & control, and others.
Fiber Optic Sensor Market Report Scope
Fiber Optic Sensor Market News and Recent Developments
The fiber optic sensor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the fiber optic sensor market are listed below:
- Luna Innovations acquired Silixa on December 21, 2023. Recognized as an award-winning innovator, Silixa has developed a reputation for revolutionizing multiple industries. Offering a distinct portfolio of distributed sensing solutions shaped by 15 years of pioneering research and application, delivering end-to-end solutions that enable temperature, strain, and acoustic measurements at the highest fidelity – even in the most hostile settings. This acquisition, paired with Luna’s already robust fiber optic sensing catalog, strengthens Luna’s vision of enabling the future with fiber.
(Source: Luna, Company Website, December 2023)
Fiber Optic Sensor Market Report Coverage and Deliverables
The “Fiber Optic Sensor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Fiber optic sensor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Fiber optic sensor market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Fiber optic sensor market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the fiber optic sensor market
- Detailed company profiles
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
The market is anticipated to record a CAGR of 9.16% during 2023–2031.
The market is expected to reach a value of US$ 7.16 billion by 2031.
AOMS Technologies, Davidson Instruments, Omnisens SA, Solifos AG, Baumer Holding AG, Keyence Corporation, OMRON Corporation, Luna Innovations Inc, SICK AG, and Yokogawa Electric Corporation are major players in the market.
Integration of advanced technologies such as intelligent Distributed Acoustic Sensor (iDAS) are key trends in the market.
Increasing needs in the automotive industry and increasing investments in R&D activities are driving the market.
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.
Trends and growth analysis reports related to Fiber Optic Sensor Market
Aug 2024
Pluggable Optics for Data Center Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Switches, Routers, and Servers), Data Rate (100–400 Gb/s, 400–800 Gb/s, and 800 Gb/s and above), and Geography
Aug 2024
Collaborative Robots Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Payload (Up to 5 Kgs, 5-10 Kgs, and Above 10 Kgs), Application (Assembly, Material Handling, Pick & Place, Quality Testing, Packaging, Machine Tending, Welding, and Others), Type (Robotic Arm, Grippers, Welding Guns, and Others), End-User Industry (Automotive, Metal & Machinery, Electronics, Pharmaceuticals, Food & beverages, Logistics, and Others), and Geography
Aug 2024
Analog to Digital Converter Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others), and Geography
Aug 2024
Adaptive Traffic Control System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Hardware, Software, and Services), Component (OPAC, SCOOT, RHODES, and SCATS), and Application [Highways and Urban (Cities)] and Geography
Aug 2024
3D Audio Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and End Use Industries (Consumer Electronics, Automotive, Media and Entertainment, Gaming, and Others)
Aug 2024
Data Center Cooling Fans Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Axial Fans, Centrifugal Fans, Mixed Flow Fans, and Others), Data Center Type (Hyperscale Data Center, Colocation Data Center, Wholesale Data Center, Enterprise Data Center, and Edge Data Center), and Geography
Aug 2024
Chillers Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Chiller Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Technology (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, and Reverse Cycle Chillers), and Application (Commercial, Industrial, and Residential) and Geography
Aug 2024
Valve Actuator Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By End-user (Mining, LNG, Chemical, Oil and Gas, Water and Wastewater, Others), Product Type (Electrical, Manual, Hydraulic, Pneumatic), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, South & Central America)
Get Free Sample For