Market Introduction
This research report on the “Fiber optic sensor Market” provides a holistic view of the market size across major regions. The report further elucidates the key driving factors, restraints, growth opportunities, and future trends pertaining to the market growth.
Moreover, the surging applications in oil & gas sector is expected to bolster the market growth during the forecast period.
Russia, the UK, and France are the worst-hit countries in the region. The UK and France have numerous fiber optic sensors manufacturers, while the Russia has significantly large number of sensor manufacturers. The emergence of COVID-19 virus has negatively impacted the businesses of European fiber optic sensors manufacturers as well as sensors market players. Additionally, the UK, France, Germany, and Italy have been observing the second wave of COVID-19 over the past couple of weeks, which has again compelled the manufacturers to restrict their production unit workforce, resulting in deceleration in fiber optic sensors demand.
Market Overview and Dynamics
The Europe fiber optic sensor market is projected to reach US$ 1,512.6 million by 2028 from US$ 757.9 million in 2021; it is anticipated to grow at a CAGR of 10.4% from 2021 to 2028. Luna Innovations unveiled a new measurement solution enabled with the improved fiber-optic sensing technology; the solution is optimized for greater precision and authentic high-definition distributed temperature measurements. The Optical Distributed Sensor Interrogator (ODiSI) platform of Luna is the industry’s one and only high-definition fiber optic temperature measurement system that is capable of eliminating the error-causing impacts of mechanical strain on fiber optic temperature sensors. Thus, with more such developments, the demand of fiber optic sensors would increase in the coming years.
Key Market Segments
In terms of vertical, the oil & gas segment accounted for the largest share of the Europe fiber optic sensor market in 2020. Further, based on application, the temperature sensing segment held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the fiber optic sensor market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Omnisens SA, Solifos AG, Baumer Holding AG, Keyence Corporation, OMRON Corporation, Luna Innovations Inc., SICK AG, and Yokogawa Electric Corporation.
Reasons to Buy Report
- To understand the Europe fiber optic sensor market landscape and identify market segments that are likely to guarantee a strong return
- To comprehend the ever-changing market landscape and stay ahead in competition
- To efficiently plan merger and acquisition, and partnership deals in the Europe fiber optic sensor market by identifying segments with the most promising probable sales
- To make knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments
- To obtain market revenue forecast of the Europe fiber optic sensor market based on various segments for the period 2021–2028
EUROPE FIBER OPTIC SENSOR MARKET SEGMENTATION
By Vertical
- Oil & Gas
- Manufacturing
- Infrastructure
- Power and Utilities
- Others
By Application
- Temperature Sensing
- Pressure Sensing
- Acoustic Sensing
- Strain Sensing
- Others
By Country
- Europe
• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe
Companies Mentioned
- Omnisens SA
- Solifos AG
- Baumer Holding AG
- Keyence Corporation
- OMRON Corporation
- Luna Innovations Inc.
- SICK AG
- Yokogawa Electric Corporation
Europe Fiber Optic Sensor Market Strategic Insights
Europe Fiber Optic SensorMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 757.9 Million |
| Market Size by 2028 | US$ 1,512.6 Million |
| CAGR (2021 - 2028) | 10.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
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Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Fiber Optic Sensor Market Country and Regional Insights
