Fintech PR
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 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Application, By Technology, By Vertical |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Restraints & Challenges |
• Complexity of integration and data analysis • Limited awareness and expertise |
|
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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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
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