Distributed Temperature Sensing Market to Grow at a CAGR of 6.82% Until 2026
Increasing demand for monitoring
power cables, various pipelines and environmental changes with the extensive
need for detecting fire in the growing industries concerning safety and
security are expected to boost the global distributed temperature sensing
market through 2026.
According to TechSci Research report, “Global
Distributed
Temperature Sensing Market By Operating Principle (Optical Time Domain
Reflectometry and Optical Frequency Domain Reflectometry), By Fiber Type
(Single-Mode Fiber and Multi-Mode Fiber), By Application (Oil & Gas, Power
Cable Monitoring, Process & Pipeline Monitoring, Fire Detection and
Environmental Monitoring), By Region, Competition, Forecast &
Opportunities, 2016-2026, the global distributed temperature
sensing market is projected to cross USD891.81 million by 2026, growing at a
CAGR of 6.82% in the next five years. Distributed temperature sensing market is
projected to witness growth on account of growing demand for monitoring continuous temperature change over long
distances with larger surface areas in the oil & gas sectors. Moreover, the need for enhanced safety and security
for maximum productivity will positively influence the global distributed
temperature sensing market in
the upcoming years.
Browse
107 Figures spread through 110 Pages and an in-depth TOC on "
Global Distributed Temperature Sensing Market "
https://www.techsciresearch.com/report/distributed-temperature-sensing-market/7356.html
The global
distributed temperature sensing market can be segmented based on operating
principle, fiber type, application and region. In terms of operating
principle, the market can be divided into optical time domain reflectometry and
optical frequency domain reflectometry. The optical
time domain reflectometry segment has a
market share of 65.27% in 2020 due to the high demand for high
accuracy and precision in detecting temperature change over larger distances with
the growing economies. The demand for the ease of monitoring continuous change
in the temperature drives the optical time domain reflectometry segment of the global
distributed temperature sensing market.
On
the basis of Fiber type, the market is branched into single-mode fiber and multi-mode
fiber. The single-mode fiber segment had 59% of the market shares in 2020 owing
to its need for temperature monitoring in larger surfaces of petroleum sectors,
submarines and underground areas. This increase is due to the high temperature
monitoring in hydrogen based darkening effect.
Based
on application, the market
can be bifurcated into oil & gas, power cable monitoring, process &
pipeline monitoring, fire detection and environmental monitoring. The oil
& gas segment accounts for the largest market share of 35.67% in 2020 due
to the increasing proliferation in the industries with the generation of significant
revenue in the market.
In the global
distributed temperature sensing market, North America is the largest
contributor with 29.17% of market shares in 2020. United States is the largest contributing country in the region for the
forecast period, followed by Canada and Mexico. Being the world’s largest distributed
temperature sensing manufacturers and exporter, North America’s growing
urbanization and research technologies are contributing to the country’s
leading market position.
Meanwhile, Asia-Pacific is growing at a quicker pace due to its
increasing temperature monitoring demand in the forecast years with ongoing
advancements in R&D for the need for miniature sensing systems in the upcoming years.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7356
Customers can also request for 10% free customization on
this report.
Baker Hughes Company, Schlumberger Limited,
LIOS Technology GmbH, Halliburton Co. (HAL), Yokogawa Electric Corporation, AP
Sensing GmbH, Bandweaver Technology Ltd., Sensornet Limited, Sumitomo Electric
Industries, Ltd., and Weatherford
International plc. are among the leading players operating in the global
distributed temperature sensing market. Companies operating in the market are
using organic strategies to develop and launch new products with mergers and
acquisitions to boost their shares in the global distributed temperature
sensing market. Significant players in the market are concentrating on
accomplishing ideal operational expenses, upgrading the system response time, enhancing
accuracy, boosting productivity with high funding in R&D, and boosting
performance to support the competitive distributed temperature sensing market.
“Ongoing advancements in R&D with
the need for miniature sensing systems across the globe are boosting the global
distributed temperature sensing market in the forecast years. The extensive need
for temperature sensing systems with high precision among subsea areas of
industries is a boosting factor for the market globally. Moreover, supportive government
policies for distributed temperature sensing technologies have also been
positively influencing the market with a continuous urge for launching new
products in the upcoming years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Distributed
Temperature Sensing Market By Operating Principle (Optical Time Domain
Reflectometry and Optical Frequency Domain Reflectometry), By Fiber Type (Single-Mode
Fiber and Multi-Mode Fiber), By Application (Oil & Gas, Power Cable Monitoring,
Process & Pipeline Monitoring, Fire Detection and Environmental Monitoring),
By Region, Competition, Forecast & Opportunities, 2016-2026’’ has evaluated the future growth
potential of the global distributed temperature sensing market by providing the
statistics and information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyses the emerging trends along with essential drivers,
challenges and opportunities in the global distributed temperature sensing
market.
About TechSci Research
TechSci Research is a
leading global market research firm publishing premium market research reports.
Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research-based consulting assignments in high
growth and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel: +1-646-360-1656
Email: [email protected]