The growth of the global distributed temperature sensing market is majorly driven by increase in rules and regulations pertaining to safety standards paired with rise in demand for distributed temperature sensing solution in oil & gas applications. Moreover, a wide range of applications are anticipated to drive the growth of distributed temperature sensing market. However, complex fault detection and troubleshooting process acts as a prime restraint for the growth of the global distributed temperature sensing market. On the contrary, growing investment in smart grid technology is anticipated to provide lucrative opportunities for the distributed temperature sensing market during the forecast period.
The distributed temperature sensing market is segmented on the basis of fiber type, operating principle, applications, and region. The fiber type segment includes single-mode fiber and multimode fiber. The single-mode fiber segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. By operating principle, the market is segmented into optical time domain reflectometry and optical frequency domain reflectometry. The optical time domain reflectometry segment dominated the market in 2020 and is anticipated to drive the market in coming years. By application, it is classified into oil & gas, power cable monitoring, pipeline surveillance, fire detection, environmental monitoring. The oil & gas segment acquired the largest share in 2020, and the BFSI segment is expected to grow at a high CAGR from 2021 to 2030. Region-wise, the distributed temperature sensing market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of the Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include, Halliburton Co., Furukawa Electric Co., Ltd., OFS Fitel LLC, Luna Innovations, Schlumberger N.V, Prysmian Group, Weatherford International PLC, Sumitomo Electric Industries Ltd., Bandweaver Technologies, and Yokogawa Electric Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the distributed temperature sensing (dts) market analysis from 2020 to 2030 to identify the prevailing distributed temperature sensing (dts) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the distributed temperature sensing (dts) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global distributed temperature sensing (dts) market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Fiber Type
- Single-Mode Fiber
- Multimode Fiber
By Operating Principle
- Optical Time Domain Reflectometry (OTDR)
- Optical Frequency Domain Reflectometry (OFDR)
By Application
- Oil Gas
- Power Cable Monitoring
- Pipeline Surveillance
- Fire Detection
- Environmental Monitoring
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- Taiwan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- STMICROELECTRONICS N.V.
- NXP SEMICONDUCTORS N.V.
- INFINEON TECHNOLOGIES AG
- QUALCOMM TECHNOLOGIES, INC.
- ATMEL CORPORATION
- TEXAS INSTRUMENTS INC.
- ROBERT BOSCH GMBH
- JOHNSON CONTROLS INTERNATIONAL PLC.
- SONY CORPORATION
- HONEYWELL INTERNATIONAL INC.
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
Executive Summary
According to this report titled, 'Distributed Temperature Sensing (DTS) Market,' the distributed temperature sensing (DTS) market was valued at $734. 23 million in 2020, and is estimated to reach $1.5 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030.A DTS temperature sensor technology is an enhanced temperature monitoring device used to monitor optical fiber solution over a long distance or across large surfaces. The distributed temperature sensing technology is designed to be used across submarine and underground power cables. Further, the DTS system used in prime industries, such as oil & gas, pipelines, and fire detection offers critical information about the actual reservoir conditions. In addition, the rise in demand for high-speed network solutions is expected to significantly contribute to the growth of distributed temperature sensing (DTS) industry in the coming years.
The growth of the global distributed temperature sensing market is majorly driven by an increase in rules and regulations pertaining to safety standards paired with rising demand for distributed temperature sensing in oil & gas applications. Moreover, wider applications are anticipated to drive the growth of distributed temperature sensing (DTS) market size. However, complex fault detection and troubleshooting processes act as a restraint on the globally distributed temperature sensing market. On the contrary, growing investment in smart grid technology is anticipated to provide lucrative opportunities for the distributed temperature sensing (DTS) market trends during the forecast period.
According to distributed temperature sensing (DTS) market analysis, the single-mode fiber segment was the highest contributor to the market in 2020. The oil & gas and fire detection segments collectively accounted for around 51.0% market share in 2020. The surge in the adoption of smart infrastructure solutions has led to the growth of the distributed temperature sensing solutions in oil & gas and fire detection segments; thereby, enhancing the distributed temperature sensing (DTS) market growth.
The outbreak of COVID-19 significantly impacted the growth of the distributed temperature sensing oil and gas, owing to a significant impact on prime market players. Conversely, the rise in demand for automatic monitoring solutions and artificial intelligence solutions escalated the demand for distributed temperature sensing solutions during the pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdown implemented by governments restrained the growth of the market. On the contrary, the emerging economies significantly witness the need for a fiber optic distributed temperature sensing solution that is expected to boost the distributed temperature sensing (DTS) market share post-pandemic.
Region-wise, Asia-Pacific holds a significant share in the globally distributed temperature sensing market, owing to the presence of prime players in this region. Further, China holds a dominating position in distributed temperature sensing market, owing to a rise in investment by prime players and government agencies to develop next-generation distributed temperature sensing solutions. The adoption of digital infrastructure solutions is expected to propel the growth of the distributed temperature sensing market trends in the region.
Key findings of the Study
- By technology, the single-mode fiber segment accounted for maximum revenue in 2020 and is projected to grow at a notable CAGR of 17.0% during the forecast period.
- By application, the oil & gas and fire detection segments together accounted for around 51.0% of the distributed temperature sensing market share in 2020.
- By operating principle, the optical time-domain reflectometry display segment is projected to witness growth at a CAGR of 20.0% during the forecast period.
- By region, Asia-Pacific contributed a major share in the distributed temperature sensing market, accounting for more than 41.4% share in 2020.
- The distributed temperature sensing market key players profiled in the report include Halliburton Co., Furukawa Electric Co., Ltd., OFS Fitel LLC, Luna Innovations, Schlumberger N.V, Prysmian Group, Weatherford International PLC, Sumitomo Electric Industries Ltd., Bandweaver Technologies, and Yokogawa Electric Corporation. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the distributed temperature sensing market
Companies Mentioned
- STMICROELECTRONICS N.V.
- NXP SEMICONDUCTORS N.V.
- INFINEON TECHNOLOGIES AG
- QUALCOMM TECHNOLOGIES, INC.
- ATMEL CORPORATION
- TEXAS INSTRUMENTS INC.
- ROBERT BOSCH GMBH
- JOHNSON CONTROLS INTERNATIONAL PLC.
- SONY CORPORATION
- HONEYWELL INTERNATIONAL INC.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 274 |
Published | April 2022 |
Forecast Period | 2020 - 2030 |
Estimated Market Value ( USD | $ 564.58 million |
Forecasted Market Value ( USD | $ 1196.5 million |
Regions Covered | Global |
No. of Companies Mentioned | 10 |