DUBLIN--(BUSINESS WIRE)--The "Fiber Optic Pressure Sensors Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The fiber optic pressure sensors market is expected to register a CAGR of 9.92% over the forecast period of 2019 - 2024. Fiber-optic pressure sensors are coming with fiber-optic amplifiers, with easy-to-read digital LEDs. This is a new trend in the market. These digital displays provide real-time feedback.
- Rapid technological advancements are a key driver for the market. Improved micro-fabrication technologies will continue to improve sensor performance, functionality and reliability. Typical applications include biomedical instrumentation, automobile power and acceleration measurement, etc.
- Fibre-optic plasmonic sensors is also an advancement in technology, with the utilization of optical fibers in plasmon based sensing, which will provide several advantages in sensing of various physical, chemical and biochemical parameters.
- Easy deployment with high stability is driving the market as fibre-optic pressure sensors are light weight with low profile (typically 145m in diameter with a polyimide coating) and are corrosion resistant and multiple sensors are easily multiplexed into a single fibre. Fiber optic pressure sensor does not have any disturbance from EMI (Electromagnetic Interference) and RFI (Radio Frequency Interference) which gives an added advantage to the sensor.
However, higher cost of product is a major restraint for the market. In the field of biomedical and biomechanical applications cost is a critical issue as high cost associated with optoelectronic and miniaturized is challenging the market to grow in this sector.
Key Market Trends
Oil and Gas Expected to Drive the Market Growth
- Due to the increasing number of projects approved in the oil and gas sector, the demand for fiber optic pressure sensor equipment is increasing. To meet the need of the measurement in high temperature and high pressure in oil and gas well, an optical fiber pressure sensor based on extrinsic Fabry Perot (F-P) cavity is used which measures long term operation stability and high-temperature resistance.
- Opsens Solutions OPP series fiber optic pressure transducers are designed to provide accurate pressure measurement in the most adverse conditions. The OPP-M designed for pressure measurement that request very small sensors of 0.250mm OD with outstanding repeatability and that demonstrates high fidelity pressure measurement with no phase delay in oil and gas well.
- FiberPoint sensors from Pinnacle are some of the most precise measuring tools that are designed to enter into some of the most hostile environments on Earth. Unlike traditional sensors, FiberPoint sensors have no internal electronics that can fail in extreme environments. This opens new possibilities for measurements in a much broader range of Downhole conditions, which will give an opportunity to grow the market.
North America to Account for a Major Share
- North America is a significantly growing market with the United States accounting for a major share specifically owing to the growth in consumer electronics. Textile-integrated flexible optical fibers for electronic wearable systems are the lightweight structure, insensitive to electromagnetic fields, water and corrosion resistant and due to these benefits, optical fiber based pressure sensors are used in numerous applications to detect chemical or physical change further stimulating adoption of consumer electronics.
- The use of optical fibers has also increased across the medical and biomedical sector in the United States, such as control of cardiovascular assist, endoscopic imaging, etc, which includes low drift, high accuracy, and insensitivity to light loss factors along the length of the optical fiber. Advancement in technology has led to the emergence of several applications that include research and development, manufacturing, defense, medical and process control, which is leading the market growth.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rapid Technological Advancements
4.3.2 Easy Deployment with High Stability
4.4 Market Restraints
4.4.1 High Cost of Product in Biomedical Applications
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 By Type
6.2 By Technology
6.2.2 Fiber Bragg Grating
6.2.4 Other Technologies
6.3 By Application
6.3.2 Consumer Electronics
6.3.5 Oil & Gas
6.3.7 Other Applications
6.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
6.4.4 Rest of the World
184.108.40.206 Latin America
220.127.116.11 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 FISO Technologies, Inc.
7.1.2 Honeywell International, Inc.
7.1.3 Infineon Technologies, Inc.
7.1.4 NXP Semiconductors
7.1.5 Omron Corporation
7.1.6 Opsens Inc.
7.1.7 Panasonic Corporation
7.1.8 Robert Bosch GmbH
7.1.9 STMicroelectronics, Inc.
7.1.10 Althen Sensors & Controls
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
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