Fiber Optic Sensor Market to Grow at a CAGR of 9.16% to reach US$ 5,506.24 Million from 2020 to 2028

Development of Smart Cities Globally Provide Growth Opportunities for Fiber Optic Sensor Market During 2021–2028

Fiber Optic Sensor Market: Key Insights

According to our latest market study on “Fiber Optic Sensor Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application and Vertical,” the market is projected to reach US$ 5,506.24 million by 2028 from US$ 2,980.47 million in 2021; it is expected to register a CAGR of 9.16% from 2021 to 2028.

Fiber Optic Sensor Market: Competitive Landscape and Key Developments

AOMS Technologies, Baumer Holding AG, Davidson Instruments, Keyence Corporation, Omnisens SA, Omron Corporation, OptaSense Ltd, SICK AG, Solifos AG, and Yokogawa Electric Corporation are among the major companies operating in the fiber optic sensor market.

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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

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Fiber Optic Sensor Market: Application Overview

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. On the basis of vertical, the fiber optic sensor market can be segmented into oil & gas, manufacturing, infrastructure, power and utilities, and others. The oil and gas segment held the largest market share in 2020. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.

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