The fiber optic sensors market is buoyed by an expanding demand for industrial applications with sophisticated functionalities. The report on the global fiber optic sensors market provides a snapshot of this industry from 2012 to 2018. The report focuses on trends and driving factors that will contribute to the growth of the market for fiber optic sensors. Considering that this market is extensively influenced by technological advancements; this market research report lays emphasis on enumerating technical milestones in the fiber optic sensors technology. Among other critical factors, this report discusses the need for power-efficiency and miniaturization in the market for fiber optic sensors.
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End-use segments analyzed in the fiber optic sensors market research report are: defense and aerospace, automotive, biomedical, telecom, and testing and measurement.
The application segments featured in this report include: automotive, petrochemicals, telecommunications, civil infrastructure, industrial process control.
Our analysts utilize Porter’s five forces impact analysis to establish the future bargaining power of suppliers, buyers, the threat of new entrants, competitive landscape, and threats (if any) from substitute products. The report analyzes the entire value chain of the fiber optic sensors market to single out opportunities that can be effectively monetized.
Overview of the Fiber Optics Sensors Market
With fast-paced technological advancement in the fiber optics sensors market, market players have introduced highly power-efficient and ultra-miniature fiber optic sensors. The need for reliable and robust sensors has evidently brought about a change in the materials and manufacturing processes used. All of these trends have brought about positive growth in the market for fiber optic sensors. Other applications such as crack monitoring in structures made of concrete have driven the market as well. As compared to other monitoring technologies, sensors that use fiber optics are preferred for their ability to spot concrete-structure cracks and structural damage as minute as 0.15 mm.
Some other advantages of fiber optics are: resistance to electromagnetic interference, low power consumption, and high sensitivity. Besides their use in LAN operations and the telecommunications industry, fiber optic sensors are also widely being utilized in the oil and gas industry, wind energy generation, homeland security operations, and smart buildings.
However, these sensors are still not regarded as being affordable. Their high deployment costs remain a hindrance to growth. But this scenario could change as government funding initiatives are boosting R&D in the fiber optics field.