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Distributed Fiber Optic Sensor Market to Reach $2,325.5 Million by 2030 Owing To Increasing Demand for Real-time Data Analysis | Says Coherent Market Insights
BURLINGAME, Calif., Feb. 12, 2024 /PRNewswire/ — Coherent Market Insights published a report, titled, Global Distributed Fiber Optic Sensor Market By Application(Strain Sensing, Temperature Sensing, Acoustic/Vibration Sensing, Pressure Sensing) By Technology(Rayleigh Scattering Based Distributed Sensor, Brillouin Scattering Based Sensor Raman Scattering Based Sensor, Interferometric Distributed Optical-Fiber Sensor, Distributed Fiber Bragg Grating Sensor) By Vertical(Oil & Gas, Security, Energy & Utility Transportation Infrastructure, Industrial Application), and By Region: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global distributed fiber optic sensor market was valued at US$ 1,313.7 Mn in 2023 and is expected to reach US$ 2,325.5 Mn by 2030, growing at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030.
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Market Dynamics:
The distributed fiber optic sensor market is expected to experience high growth due to the increasing demand for real-time data analysis. Distributed fiber optic sensors offer the advantage of continuous monitoring across long distances, providing real-time data on various parameters such as temperature, strain, and acoustic/vibration levels. This enables industries such as oil and gas, civil engineering, and power and utilities to detect any changes or anomalies in their infrastructure or operations, allowing for immediate action to be taken.
Another key driver for the market is the growing adoption of distributed fiber optic sensors in the aerospace and defense sector. These sensors are extensively used in aircraft structural health monitoring systems, enabling continuous monitoring of the structural integrity of the aircraft and ensuring the safety of passengers and crew. Additionally, distributed fiber optic sensors are also used in defense applications such as perimeter security and border surveillance.
Distributed Fiber Optic Sensor Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$1,313.78 million |
|
Estimated Value by 2030 |
$2,325.5 million |
|
Growth Rate |
Poised to grow at a CAGR of 8.5% |
|
Historical Data |
2017–2021 |
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Forecast Period |
2023–2030 |
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Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Application, By Technology, By Vertical |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Restraints & Challenges |
• Complexity of integration and data analysis • Limited awareness and expertise |
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Growth Drivers |
• Increasing demand for real-time monitoring • Advancements in fiber optic sensing technology • Increasing investments in infrastructure development |
Market Trends:
One of the key trends observed in the distributed fiber optic sensor market is the increasing use of these sensors in the healthcare sector. Distributed fiber optic sensors are being employed in various medical applications such as monitoring patient vital signs, detecting changes in body temperature, and measuring glucose levels in diabetes patients. These sensors offer high accuracy, real-time monitoring capabilities, and non-invasive measurements, making them suitable for medical applications.
Another trend in the market is the integration of distributed fiber optic sensors with artificial intelligence (AI) and internet of things (IoT) technologies. This integration enables automated and intelligent monitoring systems, which can analyze the collected data in real-time, identify patterns or anomalies, and trigger alerts or actions accordingly. This integration allows for predictive maintenance in industrial applications, reducing downtime and optimizing operations.
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Market Opportunities:
The oil and gas industry is a dominating vertical in the distributed fiber optic sensor market. With the increase in exploration activities and the need for monitoring and safety measures in this sector, there is a growing demand for distributed fiber optic sensors. These sensors are used for strain sensing, temperature sensing, acoustic/vibration sensing, and pressure sensing, making them crucial for real-time data acquisition and asset protection in the oil and gas industry. The strain sensing application, in particular, is expected to hold a dominant position in this segment due to its ability to monitor structural integrity and detect any potential failures.
Another market opportunity lies in the adoption of distributed fiber optic sensors in security applications. With the increasing need for advanced surveillance systems and secure perimeters, distributed fiber optic sensors offer unique advantages. These sensors can detect intrusions, monitor fence lines, and provide continuous surveillance over large distances. They can be integrated with existing security systems, enabling real-time monitoring and immediate alarm notification. As security concerns continue to rise, the demand for distributed fiber optic sensors in this vertical is anticipated to grow significantly.
Key Developments
In March 2023, Yokogawa Electric and Otsuka Compound(Yokogawa Electric Corporation is a global leader in industrial automation and control solutions and Otsuka Compound Co., Ltd. is a renowned manufacturer of advanced materials and components. They specialize in the development and production of optical fibers and fiber optic components, including sensors.) announced the establishment of a new company called Syncrest Inc. This joint venture aims to engage in the exploration, development, and manufacturing of core molecular drugs as a collaborative research, development, and manufacturing organization. Syncrest Inc. will focus on the investigation, creation, and production of innovative molecular drugs, leveraging the expertise and resources of both Yokogawa Electric and Otsuka Compound.
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Key Market Takeaways:
Distributed Fiber Optic Sensor Market is anticipated to witness a CAGR of 8.5% during the forecast period 2023-2030, owing to the growing demand for these sensors in various verticals.
On the basis of application, the strain sensing segment is expected to hold a dominant position. This is due to its wide range of applications in monitoring structural integrity and detecting potential failures. In terms of technology, the Rayleigh scattering-based distributed sensor is dominating the market, offering high accuracy and reliability. From a vertical perspective, the oil and gas industry is the key market for distributed fiber optic sensors, given its need for asset protection and real-time data acquisition.
On the basis of region, the North American region is expected to hold a dominant position over the forecast period. This can be attributed to the rapid adoption of these sensors in various industries, including oil and gas, security, and transportation infrastructure, among others.
Key players operating in the Distributed Fiber Optic Sensor Market include OSENSA Innovations Corp., AFL, SOLIFOS AG, Schlumberger Limited, FISO Technologies Inc., and Yokogawa Electric Corporation. These companies are focused on research and development activities to enhance the functionality and performance of distributed fiber optic sensors. With increasing market opportunities, these key players are likely to witness significant growth in the coming years.
Overall, the distributed fiber optic sensor market presents promising opportunities in the oil and gas industry, as well as security applications. The market is expected to witness steady growth, driven by the demand for real-time monitoring, asset protection, and enhanced surveillance systems. As technology continues to advance, the adoption of distributed fiber optic sensors is likely to increase across various industries, offering ample growth prospects for key players in the market.
Read complete market research report, “Distributed Fiber Optic Sensor Market By Application, By Technology, By Vertical, By Geography, Market Size And Share Analysis – Growth Trends And Forecasts 2024-2031“, Published by Coherent Market Insights.
Detailed Segmentation:
Global Distributed Fiber Optic Sensor Market, By Technology
- Rayleigh Scattering Based Distributed Sensor
- Brillouin Scattering Based Sensor
- Raman Scattering Based Sensor
- Interferometric Distributed Optical-Fiber Sensor
- Distributed Fiber Bragg Grating Sensor
Global Distributed Fiber Optic Sensor Market, By Application
- Strain Sensing
- Temperature Sensing
- Acoustic/Vibration Sensing
- Pressure Sensing
Global Distributed Fiber Optic Sensor Market, By Vertical
- Oil & Gas
- Security
- Energy & Utility
- Transportation Infrastructure
- Industrial Application
Global Distributed Fiber Optic Sensor Market, By Region:
o North America
- U.S.
- Canada
o Latin America
- Brazil
- Mexico
- Rest of Latin America
o Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
o Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
o Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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