Research and Markets Offers Report: Global Fiber Optic Sensor Market 2015-2019
Research and Markets has announced the addition of the "Global Fiber Optic Sensor Market 2015-2019" report to its offerings.
In a release, Research and Markets noted that report highlights include:
The analysts forecast the Global Fiber Optic Sensors market to grow at a CAGR of 9.6 percent over the period 2014-2019.
A fiber optic sensor is a device that employs optical fiber technology to transmit signals to amplifiers for processing. Qualities such as distributed sensing, the ability to withstand high voltage, and critical environment conditions help end-users improve the quality of operations and save costs. These benefits have increased the adoption of fiber optic sensors across industries such as Oil and Gas (for drilling oil reserves in extreme terrains), Automotive, Aircraft and Shipbuilding, Manufacturing, Electronics, and Packaging and Logistic.
One major trend in the market is the rapid advances in technology across various industries. It has led to the development of ultra-miniaturized and power-efficient fiber optic sensors that can be deployed in various industrial applications. These fiber optic sensors are more reliable and robust than their predecessors.
According to the report, increased use in critical applications is one of the major drivers in this market. Fiber optic sensors are primarily used for applications in the Oil and Gas, Manufacturing, Security, and Infrastructure sectors. However, deployment is now growing in other industries such as Medical, Military, and Transportation.
Further, the report states that the high cost of deployment is a major deterrent of this market. Fiber optic sensors are developed with advanced features and functionality, which increased the price factor. The effective installation of several fiber optic sensors requires automation of entire factory operations.