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Press release content from Business Wire. The AP news staff was not involved in its creation.

Worldwide Fiber Optic Sensor Industry to 2028 - Development of Smart Cities Presents Opportunities - ResearchAndMarkets.com

January 6, 2022 GMT

DUBLIN--(BUSINESS WIRE)--Jan 6, 2022--

The “Fiber Optic Sensor Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application (Temperature Sensing, Pressure Sensing, Acoustic Sensing, Strain Sensing, and Others) and Vertical (Oil & Gas, Manufacturing, Infrastructure, Power and Utilities, and Others)” report has been added to ResearchAndMarkets.com’s offering.

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.

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Companies Mentioned

  • AOMS Technologies
  • Davidson Instruments
  • Omnisens SA
  • Solifos AG
  • Baumer Holding AG
  • Keyence Corporation
  • OMRON Corporation
  • Luna Innovations Inc
  • SICK AG
  • Yokogawa Electric Corporation

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. Moreover, the growing development of smart cities is providing lucrative opportunities for the future growth of the market players. However, the difficulties associated with the installation of fiber optic sensors are restraining the market growth.

The fiber optic sensor market is segmented into application, vertical and geography. 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. 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 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 dominated the fiber optic sensor market.

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According to Electronic Components Industry Association (ECIA), the outbreak of COVID-19 resulted in a delay in product releases and disruption in supply chain events and other industry activities. Several manufacturers have temporarily halted the manufacturing units due to lesser demand for the products due to lockdown measures and limited manufacturing resources. Additionally, the manufacturers of various electronic and semiconductor products, including sensors, have been experiencing a substantial delay in lead times. During the first quarter of 2020, numerous Chinese manufacturers had temporarily shut down their manufacturing facilities, thereby showing a decline in supply and demand for electronics and semiconductor products worldwide. These factors have negatively impacted the fiber optic sensor market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global fiber optic sensor market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global fiber optic sensor market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Fiber Optic Sensor Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 Asia Pacific

4.2.4 Middle East & Africa

4.2.5 South America

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Fiber Optic Sensor Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Applications in Oil & Gas Sector

5.1.2 Escalating Demand in Automotive Sector

5.2 Market Restraints

5.2.1 Difficulties in Installation of Fiber Optic Sensors

5.3 Market Opportunities

5.3.1 Development of Smart Cities

5.4 Future Trends

5.4.1 Ongoing Technological Developments in Fiber Optic Sensors

5.5 Impact Analysis of Drivers and Restraints

6. Fiber Optic Sensor Market - Global Analysis

6.1 Fiber Optic Sensor Market Global Overview

6.2 Fiber Optic Sensor Market - Global Revenue and Forecast to 2028 (US$ million)

6.3 Market Positioning - Five Key Players

7. Fiber Optic Sensor Market Analysis - By Application

8. Fiber Optic Sensor Market Analysis - By Vertical

9. Fiber Optic Sensor Market - Geographic Analysis

10. Fiber Optic Sensor Market - COVID-19 Impact Analysis

10.1 Overview

10.1 Impact of COVID-19 Pandemic on Global Fiber Optic Sensor Market

10.1.1 North America: Impact Assessment of COVID-19 Pandemic

10.1.2 Europe: Impact Assessment of COVID-19 Pandemic

10.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

10.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

10.1.5 South America: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

11.4 New Development

12. Company Profiles

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/di1nt3

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY CONSTRUCTION & PROPERTY URBAN PLANNING UTILITIES OTHER TECHNOLOGY OIL/GAS AUTOMOTIVE MANUFACTURING MANUFACTURING ENERGY INTERNET

SOURCE: Research and Markets

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PUB: 01/06/2022 12:29 PM/DISC: 01/06/2022 12:29 PM

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