Fibre optic sensor is an opto-electronic device that converts the light energy into an electrical signal. Fibre optic sensor is a mechanical device that can sense any chemical energy component. It can sense the temperature, vibrations and rotations signals. There are adaptable applications of a fibre optic sensor. It is appropriate to sense the electric signals even in small spaces. Fibre optic sensor is a poor conductor of electricity. It is used either in high voltage fields or near inflammable materials. Fibre optics can also be used on conventional sensors for instance microwaves and other electronics. The fibre optic temperature sensor is a beneficial system in numerous verticals. It is a most cost-effective monitoring device that senses the temperature at manifold points. Some of the key advantages of fibre optic sensors include high sensitivity, less power consumption, and high resistance to electromagnetic interference.
As per analysis, “Global Fibre Optic Sensors Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global fibre optics sensors market include Light Wave Venture, FISO Technologies, Honeywell Sensing and Control, Sensa, OSENSA Innovations, Brugg Kabel, Micron Optics, AFL Global, US Seismic Systems, Omnisens and among others. These leading companies main aim is adopting innovative approaches to enhance their market share. Companies are also focused on product development & expansion of their operational activities across the globe. Additionally, the companies are also aiming at improving their sales channel strategies & business development activities to stay competitive in the market.
Based on type, fibre optics sensors market is segmented as extrinsic sensors and intrinsic sensors. Intrinsic sensors exploit a change that takes place within fiber itself whereas in extrinsic sensors, the change is outside the fiber and fiber itself remains unchanged. In addition, based on application, market is segmented as power systems, construction, oil & gas, and others.
The fibre optics sensors market is driven by growth in power & energy industries, followed by increase in civil engineering service, rise in demand from oil & gas industries and increase in applications in concrete made structure such as crack monitoring. However, highly complex installation procedure and lack of awareness may impact the market. Moreover, rapid pace of technological advancements and introduction of ultra-miniature & power efficient fiber optic sensors are key opportunities for market. Furthermore, high installation cost of fibre optic system is a major challenge for market.
Based on regional analysis, the North-American region dominates the global fibre optics sensors market owing to growth in demand for high speed fibre optic sensors in offshore industries coupled with increase in adoption rate of fibre optic sensors across several end-use industries. The Asia-Pacific and Europe regions are expected to witness higher growth rate due to high penetration of safety & security industries along with infrastructure & construction sectors over the forecast period. It is estimated that future of the global fibre optics sensors market will be bright as a result of rise in need for durable & reliable sensors during the forecast period.
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Global Fibre Optic Sensors Market
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