Market Size of Fiber Optic Pressure Sensors Industry
| 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.
