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Fiber Optic Sensor Market Size, Forecast, Key Players and Competitive Lanscape Research Report
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As per the latest report published by Marker Research Future (MRFR), the global fiber optic market for fiber optic sensors is predicted to reach a significant market value of USD 3 billion by 2023 at a moderate CAGR of 11% over the review period (2016 to 2022).
The global market for fiber optic sensors is sustained by the increasing demand for different high-end industrial applications coupled with sophisticated functions. Fiber optic sensors have an improved resistance to high temperature conditions. Thus, it is estimated that the need for these fiber optic sensors will increase over the next few years , particularly in applications that have severe environmental situations where the electrical sensors are essentially failing to work effectively. Manufacturing and the oil and gas industries are some application areas with extreme temperature conditions. Since they are comparatively more robust and accurate than their contemporaries and predecessors, fiber optic sensors are gaining significant traction across several industries.
The global market for fiber optic sensors can be segmented on the basis of the type, component, and end-user.
The fiber optic sensors market segmentation on the basis of Type has been bifurcated into Intrinsic and extrinsic fiber optic sensors.
Read more@ https://www.marketresearchfuture.com/reports/fiber-optic-sensor-market-2514
Based on the components, the market has been segmented into receivers, transmitters, optical fiber optic cables, amplifiers, and others.
The end-use industry verticals that deploy fiber optic sensors are energy & power, Defense, transportation, medical, industrial, and others.
Competitive Analysis
the major market players identified by MRFR in the Global Fiber Optic Sensor Market includes Yokogawa Electric Corporation (Japan), ABB Ltd. (Switzerland), OmniSens SA (Switzerland), Finisar Corporation (US), Deltex Medical Group PLC (UK), AP Sensing GmbH (Germany), AFL Group (US), Luna Innovations Incorporated (US), Sumitomo Electric Industries Ltd. (Japan), and others.
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