Distributed Acoustic Sensing Market To Witness Healthy Growth At 11.5% CAGR By 2025, Due To Rising Need For Inspection & Monitoring of Fluid Flow Across Petroleum Sector | Million Insights
FELTON, Calif., Jan. 19, 2021 /PRNewswire/ — The global distributed acoustic sensing market is anticipated to value USD 775.8 million until 2025. It is also expected to register a CAGR of 11.5% over the forecasted years, 2019 to 2025. The increasing need for inspection and monitoring of fluid flow across the petroleum industry coupled with the rapid technological advances in sensing technology is projected to drive the market growth across the globe.
The single-mode fiber optic segment accounted for a significant share in 2018 due to its feature of permitting limited external interference. Also, their lower thickness and ability for longer-range transmission is further expected to drive the market growth over the forecasted period, 2019 to 2025.
The segment of oil & gas held the largest share across the global market due to rising usage for flow monitoring, pipeline monitoring, intrusion detection, and asset management. The segment of environment & infrastructure is also anticipated to hold substantial share across the market due to the need for monitoring and tracking of gases and fluids in the surrounding for reducing the environmental pollution.
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In 2018, North America dominated the global market with 34.0% share on account of the surging presence of the oil & gas industry across this region. While the Asia Pacific is expected to witness the highest growth from 2019 to 2025 owing to surging usage of fiber optics across the telecom sector prevailing in this region.
The market for the distributed acoustic sensing includes key players such as OptaSense; Baker Hughes; Halliburton; Ziebel; and Northrop Grumman Corporation. They are constantly implementing strategies like collaborations, mergers, partnerships, and acquisitions to gain a competitive advantage over other players.
Further key findings from the report suggest:
- The single-mode fiber segment dominated the global distributed acoustic sensing (DAS) market.
- The vertical segment of oil & gas held the largest share across the global market in 2018.
- In 2018, North America dominated the global market with a share of around 34.0%.
- The key players in this market are OptaSense; Baker Hughes; Halliburton; Ziebel; and Northrop Grumman Corporation.
Browse 100 page research report with TOC on “Global Distributed Acoustic Sensing Market” at: https://www.millioninsights.com/industry-reports/global-distributed-acoustic-sensing-market
Million Insights has segmented the global distributed acoustic sensing market on the basis of fiber type, vertical, and region:
- Distributed Acoustic Sensing Fiber Type Outlook (Revenue, USD Million, 2014 – 2025)
- Single-mode Fiber
- Multimode Fiber
- Distributed Acoustic Sensing Vertical Outlook (Revenue, USD Million, 2014 – 2025)
- Oil & Gas
- Power & Utility
- Security & Surveillance
- Environment & Infrastructure
- Distributed Acoustic Sensing Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- South America
- Middle East & Africa
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