Report Highlights
The global market value for fiber optic sensors is projected to increase in 2011 to more than $1.2 billion. In 2012, global market value is forecast to be more than $1.5 billion. Given a compound annual growth rate (CAGR) of 10.5%, the global market value is calculated to increase to more than $2.5 billion in 2017.
Report Scope
This BCC business opportunity report covers, with a critical eye, the global fiber optic sensors marketplace. It focuses particularly on the markets and opportunities for fiber optic sensors in telecommunications, oil and gas exploration and drilling, medical, and industrial markets. The study considers future opportunities for new application markets.
This study is presented in easy-to-follow sections that overview this subject, define the technology, segment the market by product type and application, profile companies, and identify suppliers. All dollar amounts are expressed in current 2011U.S. dollars.
Analyst Credentials
The author received a Ph.D. in material science and engineering from the University of Arizona in 1993, based on a dissertation on the fabrication and characteristics of sol gel optical waveguides. She then worked for 2 years at Sandia National Labs on the development of thin film zeolite filters for gas separation applications. Since 1996, she has covered the transportation market as both a contributing editor and editor of Advanced Transportation Technology News and authored numerous reports in advanced materials and transportation for BCC Research.
Report Highlights
- The U.S. fiber optic sensor market was valued at $235.0 million in 2007. This is expected to reach $430.0 million in 2009 and $1.6 billion in 2014, for a compound annual growth rate (CAGR) of 30.1%.
- Intrinsic sensors, in which the fiber itself acts as the sensor, have the larger market share, worth $170.0 million in 2007 and an estimated $306.0 million in 2009. This segment should reach $1.4 billion in 2014, a CAGR of 35.2%.
- Extrinsic sensors, in which the fiber is simply the means of signal transmission, generated $65.0 million in 2007 and an estimated $124.0 million in 2009. This segment is expected to reach $219.0 million in 2014 for a CAGR of 12.1%.
Report Highlights
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In 2005, total worldwide revenues for fiber optic sensors are projected to increase to $288.1 million, and to $304.3 million in 2006. Revenues are expected to increase at a modest average annual growth rate (AAGR) of 4.1% to $371.8 million in 2011.
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Extrinsic sensors are forecast to increase at an AAGR of 4.1% until 2011, to $274.4 million.
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Intrinsic sensors will rise from $79.9 million in 2006 to $97.4 million in 2011 at an AAGR of 4%. The largest application segment for intrinsic sensors is military technologies that tend to be specialized, seldom leading to mainstream market success.
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These moderate growth rates reflect the challenge to fiber optic sensors to find more mainstream applications.
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