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Distributed Fiber Optic Sensor Market Size $2.27 Billion By 2028: Grand View Research, Inc.SAN FRANCISCO, June 1, 2021 /PRNewswire/ -- The global distributed fiber optic sensor market size is expected to reach USD 2.27 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 8.4% from 2021 to 2028. Factors, such as significant demand from the civil engineering vertical and rising adoption in the oil & gas sector, boost product adoption. Fiber optics can withstand rough handling, such as in pipes, streams, and reactors, where manual inspection is not feasible. Furthermore, they help in structural health monitoring at dangerous workplaces and can also be used for border security purposes to prevent intrusion. Thus, its high durability and ability to withstand a challenging environment are also projected to propel market growth. Key suggestions from the report:
Read 154 page research report with ToC on "Distributed Fiber Optic Sensor Market Size Share & Trends Analysis Report By Vertical (Oil & Gas, Industrial), By Technology (Raman Effect, Rayleigh Effect), By Application, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/distributed-fiber-optic-sensor-sensing-dfos-market Increasing demand for sophisticated infrastructure and rising per capita income is predicted to lead to industrial automation, urban mobility, and growth in high-end residential projects. Various governments are focusing on conserving their prevailing infrastructure and developing new ones. They are under constant pressure to provide the necessary infrastructure, amenities, and connectivity to people. This has enabledincreased spending on projects, such as roads, railways, and dams. This rapid growth in the advanced civil engineering vertical is expected to boost market development. The wide usage of DFOS has promoted manufacturers and suppliers to increase R&D expenditure to offer better products to their customers. Service providers are trying to regulate efficiencies and optimize their production process to capture maximum market share and eliminate all other substitutes of the fiber optics technology. The high production & installation price of DFOS products is forcing manufacturers to develop cheaper and reliable optic inspection products. Technological complexities, along with other challenges raise the price of fiber optics deployment, which further hampers the market growth. Grand View Research has segmented the global distributed fiber optic sensor market on the basis of application, technology, vertical, and region:
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Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg |