Fiber Optic Pressure Sensors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.92 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fiber Optic Pressure Sensors Market Analysis
The fiber optic pressure sensors market is expected to register a CAGR of 9.92% over the forecast period of 2021-2026. Fiber-optic pressure sensors include fiber-optic amplifiers, with easy-to-read digital LEDs. This is a new trend in the market. These digital displays provide real-time feedback.
- Rapid technological advancements are a key driver for the market. Improved micro-fabrication technologies will continue to improve sensor performance, functionality, and reliability. Typical applications include biomedical instrumentation, automobile power, and acceleration measurement, etc.
- Fiber-optic plasmonic sensor is also an advancement in technology, with the utilization of optical fibers in plasmon-based sensing, which will provide several advantages in sensing of various physical, chemical, and biochemical parameters.
- Easy deployment with high stability is driving the market, as fiber optic pressure sensors are lightweight with low profile (typically 145μm in diameter with a polyimide coating) and are corrosion resistant and multiple sensors are easily multiplexed into a single fiber. Fiber optic pressure sensor does not have any disturbance from EMI (Electromagnetic Interference) and RFI (Radio Frequency Interference), which gives an added advantage to the sensor.
- However, the higher cost of the product is a major restraint for the market. In the field of biomedical and biomechanical applications cost is a critical issue, as high cost associated with optoelectronic and miniaturized is challenging the market growth in this sector.
Fiber Optic Pressure Sensors Market Trends
This section covers the major market trends shaping the Fiber Optic Pressure Sensors Market according to our research experts:
Oil and Gas Expected to Drive the Market Growth
- Due to the increasing number of projects approved in the oil and gas sector, the demand for fiber optic pressure sensor equipment is increasing. To meet the need for measurements, in high temperature and high pressure in an oil and gas well, an optical fiber pressure sensor, based on extrinsic Fabry Perot (F-P) cavity, is used . This measures long-term operation stability and high-temperature resistance.
- Opsens Solutions OPP series fiber optic pressure transducers are designed to provide accurate pressure measurement in the most adverse conditions. The OPP-M is designed for pressure measurement that requests very small sensors of 0.250mm OD with outstanding repeatability and demonstrates high-fidelity pressure measurement with no phase delay in oil and gas well.
- Moreover, FiberPoint sensors from Pinnacle are some of the most precise measuring tools that are designed to enter into some of the most hostile environments on the Earth. Unlike traditional sensors, FiberPoint sensors have no internal electronics that can fail in extreme environments. This opens new possibilities for measurements in a much broader range of downhole conditions, which will give an opportunity to grow the market.
North America to Account for a Major Share
- North America is a significantly growing market, with the United States accounting for a major share, specifically owing to the growth in consumer electronics. Textile-integrated flexible optical fibers for electronic wearable systems are lightweight in structure, insensitive to electromagnetic fields, and water- and corrosion-resistant. Due to these benefits, optical fiber-based pressure sensors are used in numerous applications to detect chemical or physical change further stimulating adoption of consumer electronics.
- The use of optical fibers has also increased across the medical and biomedical sector, in the United States, such as control of cardiovascular assist, endoscopic imaging, etc. This includes low drift, high accuracy, and insensitivity to light loss factors along the length of the optical fiber. Advancement in technology has led to the emergence of several applications that include research and development, manufacturing, defense, medical and process control, which are driving the market growth.
Fiber Optic Pressure Sensors Industry Overview
The fiber optic pressure sensors market is fragmented and the major players have used various strategies, such as new product launches, joint ventures, partnerships, and others, to increase their footprints in this market to sustain in the long run. Key players areFISO TechnologiesInc.,Honeywell International, Infineon Technologies, etc. Recent developments in the market are -
- May 2019 - Opsens Inc. offeredan advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access.
Fiber Optic Pressure Sensors Market Leaders
FISO Technologies Inc.
Honeywell International Inc.
Infineon Technologies Inc.
NXP Semiconductors
Omron Corporation
*Disclaimer: Major Players sorted in no particular order
Fiber Optic Pressure Sensors Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
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4.3.1 Rapid Technological Advancements
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4.3.2 Easy Deployment with High Stability
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4.4 Market Restraints
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4.4.1 High Cost of Product in Biomedical Applications
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4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
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4.6.1 Threat of New Entrants
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4.6.2 Bargaining Power of Buyers/Consumers
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4.6.3 Bargaining Power of Suppliers
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4.6.4 Threat of Substitute Products
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4.6.5 Intensity of Competitive Rivalry
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5. TECHNOLOGY SNAPSHOT
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6. MARKET SEGMENTATION
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6.1 By Type
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6.1.1 Wired
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6.1.2 Wireless
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6.2 By Technology
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6.2.1 Fabry-Perot
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6.2.2 Fiber Bragg Grating
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6.2.3 Intensity-based
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6.2.4 Other Technologies
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6.3 By Application
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6.3.1 Automotive
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6.3.2 Consumer Electronics
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6.3.3 Healthcare
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6.3.4 Industrial
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6.3.5 Oil and Gas
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6.3.6 Petrochemical
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6.3.7 Other Applications
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6.4 Geography
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6.4.1 North America
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6.4.1.1 United States
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6.4.1.2 Canada
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6.4.2 Europe
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6.4.2.1 United Kingdom
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6.4.2.2 Germany
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6.4.2.3 France
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6.4.2.4 Russia
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6.4.2.5 Rest of Europe
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6.4.3 Asia-Pacific
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6.4.3.1 China
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6.4.3.2 India
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6.4.3.3 Japan
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6.4.3.4 Rest of Asia-Pacific
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6.4.4 Rest of the World
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6.4.4.1 Latin America
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6.4.4.2 Middle East & Africa
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7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
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7.1.1 FISO Technologies Inc.
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7.1.2 Honeywell International Inc.
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7.1.3 Infineon Technologies Inc.
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7.1.4 NXP Semiconductors
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7.1.5 Omron Corporation
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7.1.6 Opsens Inc.
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7.1.7 Panasonic Corporation
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7.1.8 Robert Bosch GmbH
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7.1.9 STMicroelectronics Inc.
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7.1.10 Althen Sensors & Controls
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- *List Not Exhaustive
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8. INVESTMENT ANALYSIS
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9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fiber Optic Pressure Sensors Industry Segmentation
Fiber optic pressure sensors are used to provide accurate pressure measurement in harsh environments. Over the past few years, optical fibers have seen significant inroads across various sensor applications, owing to their small size and ability to transmit huge amounts of data. The market report offers insights into the application segment, such as automotive, consumer electronics, healthcare, industrial, oil and gas, petrochemical, etc.
| By Type | |
| Wired | |
| Wireless |
| By Technology | |
| Fabry-Perot | |
| Fiber Bragg Grating | |
| Intensity-based | |
| Other Technologies |
| By Application | |
| Automotive | |
| Consumer Electronics | |
| Healthcare | |
| Industrial | |
| Oil and Gas | |
| Petrochemical | |
| Other Applications |
| Geography | |||||||
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Fiber Optic Pressure Sensors Market Research FAQs
What is the current Fiber Optic Pressure Sensors Market size?
The Fiber Optic Pressure Sensors Market is projected to register a CAGR of 9.92% during the forecast period (2024-2029)
Who are the key players in Fiber Optic Pressure Sensors Market?
FISO Technologies Inc., Honeywell International Inc., Infineon Technologies Inc., NXP Semiconductors and Omron Corporation are the major companies operating in the Fiber Optic Pressure Sensors Market.
Which is the fastest growing region in Fiber Optic Pressure Sensors Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fiber Optic Pressure Sensors Market?
In 2024, the North America accounts for the largest market share in Fiber Optic Pressure Sensors Market.
What years does this Fiber Optic Pressure Sensors Market cover?
The report covers the Fiber Optic Pressure Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fiber Optic Pressure Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fiber Optic Pressure Sensors Industry Report
Statistics for the 2024 Fiber Optic Pressure Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fiber Optic Pressure Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
