Distributed Temperature Sensing Market worth $815.57 Million by 2022
Zion Market Research has published a new report titled “Distributed Temperature Sensing (DTS) Market by Operating Principle (OTDR and OFDR) by Fiber Type (Single-Mode Fiber and Multi-Mode Fiber) for Oil & Gas, Power Cable Monitoring, Fire Detection, Process & Pipeline Monitoring and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022”. According to the report, the globally distributed temperature sensing market accounted for around USD 515.52 Million in 2016 and is expected to reach approximately USD 815.57 Million globally by 2022, growing at a CAGR of around 7.91% between 2017 and 2022.
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The growth of distributed temperature sensing market is mainly attributed to increasing rules and regulations pertaining safety standards across the globe. In addition, increasing demand from oil & gas applications coupled with high reliability and wide coverage of distributed temperature sensing systems is foreseen to propel demand for DTS system significantly. Monitoring techniques are very helpful in harsh working conditions such as negative temperatures and extremely high temperatures in desert areas. Increasing demand for sophisticated functionalities in industrial applications and deployment of power-efficient and miniaturized sensors in various industrial applications are some of the factors estimated to favor the growth of distributed temperature sensing market. Brownfield operations have increased worldwide where older facilities and sites are used for developing a new structure is also expected to boom the market growth. However, technical difficulties may have an adverse effect on the growth of distributed temperature sensing market. Even so, increasing safety norms and supportive government policies are expected to open up massive growth opportunities for distributed temperature sensing market in the forecast period.
OTDR operating principle segment is expected to hold largest market share and predicted to grow at the highest rate between analysis period. The growth of this segment is mainly attributed to OTDR-based DTS systems support to provide a robust measurement and are less susceptible to issues such as reflections and bends in the fiber and accessories coupled with OTDR is quite simple and is very similar to the time of flight measurement used for radar.
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Single-mode fiber and multi-mode fiber is the fiber type segment of DTS market. Single-mode fiber-based DTS systems for oil & gas applications predicted to hold the highest market size between 2016 and 2022. Multi-mode fibers are also estimated to dominate the DTS market during the forecast period.
Oil and gas application is predicted to hold the largest market share of global DTS market in the analysis period. DTS helps in continuous, real-time downhole monitoring to optimize the operational and economic performances of the assets. DTS Market for fire detection applications segment is estimated to grow at the highest rate during the analysis period.
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Asia Pacific distributed temperature sensing market is expected to show lofty growth on account of significant demand from application sectors such as oil & gas and power cable monitoring. Demand from process & pipeline monitoring applications segment will drive the growth of DTS market in North America. Latin America along with Middle East & Africa is expected to witness significant growth over the analysis period owing to demand from oil and gas application segment.
The key noticeable players operative in global distributed temperature sensing market includes Sensornet Ltd., Yokogawa Electric Corporation, LIOS Technology GmbH, Schlumberger N.V., Halliburton Company, Band weaves Technologies, Weatherford International PLC, Sumitomo Electric Industries Ltd., Furukawa Electric Co. and Omicron Electronics amongst others.
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