End-User Awareness and Expanding Application Possibilities Drives the Global Fiber Optic Sensors Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Fiber Optic Sensors markets. Global Fiber Optic Sensors market is projected to reach US$3.4 billion by 2018, primarily driven by growing end-user awareness about the benefits of fiber optic sensors and increasing number of new and emerging application areas. Robust demand from developing markets, particularly Asia-Pacific, also augurs well for the future of this market.

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Fiber Optic Sensors: A Global Strategic Business Report

San Jose, CA (PRWEB) October 17, 2012

Follow us on LinkedIn – Capable of operating even in harsh environments including high temperatures amid corrosive materials and solid-state configurations, fiber optic sensors (FOS) are extensively used in a multitude of application areas including defense, telecommunications, construction, and chemical processing among others for monitoring a host of measurable parameters such as temperature, strain, pressure, displacement, flow rate, and acceleration. Having already proved their worth in helping monitor optical networks, oil reservoirs, civil constructions, pipelines, and perimeter security installations, fiber optic sensors are now gaining penetration in a host of new application areas. The market stands to benefit from growing demand from niche market segments such as renewable energy projects, biomedical instrumentation, automotive and test & measurement.

Another major trend projected to drive growth in the FOS market is the dedicated efforts and initiatives taken up by industry participants to promote use of this technology. Fiber optic sensor manufacturers, R&D institutions, and universities among other participants are coming together to spread awareness about unique properties and benefits of fiber optic sensors and possible applications areas, where they can be successfully implemented. Partnerships among industry participants, together with university funding and research activities will especially help in broad scale implementation of fiber optic sensors in a range of industry sectors going further. Emergence of several consulting and service companies offering consultation and implementation support services is also helping drive market prospects for fiber optic sensors. Furthermore, government investments in advanced defense projects such as undersea surveillance and chemical/biohazard detection also augur well for the growth of the market.

As stated by the new market research report on Fiber Optic Sensors, the US continues to remain the largest regional market. Asia-Pacific is the fastest growing market, with revenues from the region projected to wax at a CAGR of 15.7% over the analysis period. Burgeoning industrial activity in the rapidly developing countries in Asia-Pacific is projected to drive the demand for fiber optic sensors in the region. By product, intrinsic fiber optic sensors represent the largest product segment, while extrinsic fiber optic sensors is the fastest growing segment, with revenues from the segment projected to wax at a CAGR of 21.3% over the analysis period.

Key players in the marketplace include Agilent Technologies, Inc., Alstom Grid, Avantes B.V., Avensys Tech, Baumer Electric AG, Davidson Instruments, Inc., EXFO Inc., FISO Technologies Inc., Halliburton, Hitachi Cable Ltd., Honeywell Sensing and Control, Intelligent Fiber Optics Systems Corp., KVH Industries, Inc., LUNA Technologies, Micron Optics, Inc., Northrop Grumman Navigation Systems Division, O/E LAND, Inc., Ocean Optics, Inc., Optrand, Inc., Photonics Laboratories, Inc., Prime Photonics™, Sensornet Ltd., Schlumberger Limited, Sensa, Weatherford International Ltd., and ZIEBEL AS, among others.

The research report titled “Fiber Optic Sensors: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value for the US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific (China, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World markets. Product segments analyzed include Extrinsic Fiber Optic Sensors and Intrinsic Fiber Optic Sensors. End-use sectors analyzed for the global market includes Aerospace, Defense, & Security; Oil & Gas; Industrial; Smart Structures; and Others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Fiber_Optic_Sensors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Email: press(at)StrategyR(dot)com
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