PRZOOM - /newswire/ -
Mountain View, CA, United States, 2011/03/22 - New analysis from Frost & Sullivan, World Fiber Optic Sensors Markets, finds that the market earned revenues of $656.4 million in 2010 and estimates this to reach $3.31 billion in 2017.
Fiber optic (FO) sensors' dielectric nature and their integral advantages of distributed sensing, immunity to electromagnetic interference (EMI) and radio frequency interference (RFI) make them the first choice among sensor developers for high-voltage and harsh-environment applications. Their impressive benefits have popularized their use in both current and future oil and gas applications. In fact, the oil and gas industry is dependent on FO sensors for drilling untapped and difficult-to-access oil reserves as well as subsea oil field installation.
New analysis from Frost & Sullivan (sensors.frost.com), World Fiber Optic Sensors Markets, finds that the market earned revenues of $656.4 million in 2010 and estimates this to reach $3.31 billion in 2017.
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FO sensing also plays a critical role in other applications such as security, structural health monitoring, civil, industrial, energy and defence.
"Miniature size and total immunity to EMI make them applicable in medical applications," says Frost & Sullivan Industry Analyst V. Sankaranarayanan. "Meanwhile, their long-term reliability in different environments and the possibility of having distributed sensors along a single optical fiber that runs several kilometers makes them applicable in civil engineering applications."
To make the most of their overwhelming advantages and ensure widespread and commercial adoption, FO sensor companies must strategize to lower their sensor systems' high initial costs. The cost of designing, planning and installing an FO sensor system is prohibitive, especially in certain retrofit applications, where the existing lines need to be dug out to lay the fibers.
"Vendors need to reduce the cost of the system and commercially address the high-volume applications of fiber optic sensors and applications where conventional ones are unfeasible," notes Sankaranarayanan. "With increasing end-user awareness, cost reductions and product and technology trends, FO sensors are expected to play a key role in shaping the future of the global sensors market."
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World Fiber Optic Sensors Markets / M633