Fiber Optic Sensors: A Global Strategic Business Report
San Jose, California (Vocus) October 26, 2010
Fiber optic sensors (FOSs) have over the years, made rapid strides in quality and functionality and have found widespread adoption in telecommunications, defense and aerospace, test & measurement, bio medical, automotive, chemical, manufacturing, and medicine, among various other industries. Improvements in performance, and standardization, together with falling prices, have helped FOSs make an impact with a wide range of industrial applications. Rapid technological developments over the years have made FOSs an attractive alternative to conventional sensors for measuring acceleration, rotation, magnetic field, electric field, pressure, temperature, vibration, viscosity, and strain, among others.
As fiber optic sensors embody the core of telecommunications, automotive, petrochemicals, electronics, industrial, construction/civil infrastructure and industrial process control among other application areas, the recent volatility in these end-use industries has had a bearing on the FOSs industry. The year 2009 was especially a challenging year for telecommunications, automotive, petrochemical and industrial process industries, due to which growth momentum in the fiber optic sensors market slowed. The sharp downturn in the global economy, uncertainty over the development of end use-markets, high inventory levels, and pricing pressures made the business environment tough for players in the market. Weakening momentum in most industrialized economies, and tight credit conditions cancelled out heady growth patterns of yesteryears and optimistic expectations in the global fiber optic sensors market
With recession at its tail end, a quick resurgence in growth fundamentals such as softening of interest rates, improvement in infrastructure spends, increased investments on product developments, and recovery in key end-use markets such as automotive, and telecommunications, is expected to drive steady gains for fiber optic sensors in the post recession period. Technological refinements in terms of improved efficiency and performance will re-emerge to drive growth in the marketplace stimulating world market for fiber optic sensors. The ongoing technological advancements in the areas of telecommunications and in Local Area Networks are expected to boost market opportunities for fiber optic sensors over the next few years. Growth in the market post recession will also be driven by growing needs in homeland security, and oil & gas industry. Growing application of fiber optic sensors in generation of alternative energy sources such as wind power, and in developing smart infrastructure is also expected to drive the market in the next few years. Government funding for various research and development activities will additionally boost the market further for fiber optic sensors in the next few years.
As stated by the new market research report on fiber optic sensors, the US continues to remain the largest regional market for fiber optic sensors. Asia-Pacific is the fastest growing regional market, waxing at a CAGR of more than 20% over the analysis period 2007-2015. Powered by rapid strides in industrialization, Asia-Pacific is all set to emerge as the fastest growing market for sensors, worldwide. China, the regional powerhouse is set to dominate the regional market for sensors, accounting for major share of total sensors sales value for 2010. By product, intrinsic fiber optic sensors market make up for the most prominent segment, growing at a CAGR of about 16.1% over the analysis period. extrinsic fiber optic sensors market however remains the fastest growing product segment in the US.
Key players listed in the report include Agilent Technologies, Inc., Alstom Grid, Avantes B.V., Avensys Tech, Baumer Electric AG, Blue Road Research, Inc., 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™, Sabeus Inc, 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” published 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 sales for US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific (China, 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. The report also provides product analytics for the global market in value by end-use segments - Defense/Aerospace, Telecom, Bio-Medical, Test & Measurement, Automotive and Others (Chemical, Construction, and Guidance Control among Others)
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