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Distributed Fiber Optic Sensor Market - Industry Analysis by Scattering Process, Operating Principle, Fiber Type, Vertical, and Application Forecast 2023

The global distributed fiber optic sensor market is projected to reach $1,970.1 million by 2023, growing at a CAGR of 15.0% forecast to 2023.
Distributed fiber optic sensors overcome the built-in constraints of traditional technologies such as thermocouples and strain gauges. Distributed fiber optic sensors enable monitoring solutions with exceptional benefits for the safety of society and critical assets, especially when monitoring in inhospitable environments or remote locations. These sensors substitute integration of thousands of sensors with single optical fiber system.
The optical fiber is light weighted, manageable, available at low-price, and unaffected to electromagnetic interference, which makes it an economical and flexible sensor medium. The benefits associated with distributed fiber optic sensors are likely to spur the growth of this market. Some of the factors like increasing adoption of distributed fiber optic sensors in oil and gas and soaring demand from the civil engineering vertical are expected to propel the growth of global distributed fiber optic sensor market.
Geographically, North America has been the largest market for distributed fiber optic sensors. The oil and gas industry contributed largest revenue to the distributed fiber optic sensor market in the region. The U.S. is considered as the largest petroleum consumer across the globe and it is also producing oil faster than other countries in the world.
The key players in the distributed fiber optic sensor market include Schlumberger Limited, Halliburton Company, Yokogawa Electric Corporation, Weatherford International plc, QinetiQ Group plc, Luna Innovations Incorporated, OFS Fitel LLC, Bandweaver, OmniSens S.A., Brugg Kabel AG, AP Sensing GmbH, AFL, and Ziebel AS.

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