Frost & Sullivan Releases World Fiber Optic Sensors Market Report (USA)
Fiber optic (FO) sensors’ dielectric nature and their integral advantages of distributed sensing, immunity to electromagnetic interference (EMI) and radio frequency interference (RFI) make them the first choice among sensor developers for high-voltage and harsh-environment applications.
Their impressive benefits have popularized their use in both current and future oil and gas applications. In fact, the oil and gas industry is dependent on FO sensors for drilling untapped and difficult-to-access oil reserves as well as subsea oil field installation.
New analysis from Frost & Sullivan , World Fiber Optic Sensors Markets, finds that the market earned revenues of $656.4 million in 2010 and estimates this to reach $3.31 billion in 2017.
FO sensing also plays a critical role in other applications such as security, structural health monitoring, civil, industrial, energy and defence.
“Miniature size and total immunity to EMI make them applicable in medical applications,” says Frost & Sullivan Industry Analyst V. Sankaranarayanan. “Meanwhile, their long-term reliability in different environments and the possibility of having distributed sensors along a single optical fiber that runs several kilometers makes them applicable in civil engineering applications.”
To make the most of their overwhelming advantages and ensure widespread and commercial adoption, FO sensor companies must strategize to lower their sensor systems’ high initial costs. The cost of designing, planning and installing an FO sensor system is prohibitive, especially in certain retrofit applications, where the existing lines need to be dug out to lay the fibers.
“Vendors need to reduce the cost of the system and commercially address the high-volume applications of fiber optic sensors and applications where conventional ones are unfeasible,” notes Sankaranarayanan. “With increasing end-user awareness, cost reductions and product and technology trends, FO sensors are expected to play a key role in shaping the future of the global sensors market.”
World Fiber Optic Sensors Markets is part of the Sensors & Instrumentation Growth Partnership Services program, which also includes research in the following markets: Sensors Market in Medical Applications and World Flow Sensors & Transmitters Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company’s Growth Partnership Service provides the CEO and the CEO’s Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.
Source: frost , March 22, 2011;