Growth Outlook: Distributed Temperature Sensing Market Is Projected to Grow at a Substantial Rate by 2027 - Report by ResearchDive

  

According to the report published by Research Dive, the global distributed temperature sensing market forecast shall cross $1,196.5 million by 2027, growing at a noteworthy growth rate of 7.8%.

Impact Analysis of COVID-19 on the Distributed Temperature Sensing Market

The spread of coronavirus has created a tremendously negative impact on the a wide range of industries such as electronic, retail, automotive, semiconductors, among many others. A majority of the countries are facing challenges like economic collapse, intense disruption in manufacturing processes, and growing incidents of cyberattacks. On the other hand, it is estimated that the use of distributed temperature sensing technologies in industry sectors will surge post the pandemic settles, mainly because of the novel technology and product innovations. For example, in March 2020, Sumitomo Electric, a notable player in manufacturing of optical fibers, made an announcement to launch OPTHERMO FTS3500, a fiber-optic based DTS system. The system has is built with long-life optical fibers along with the capability to monitoring the wide-range temperature distribution. Moreover many industry players such as Qualcomm Technologies, Robert Bosch, and Texas Instruments are heavily investing in R&D and innovation, to strong hold the position in the global market. These factors are expected to create massive market opportunities, in the COVID-19 crisis.

Distributed Temperature Sensing Market Analysis:

The increasing emphasis regarding automation as well as digitization in the production of oil and gas is expected to increase the demand for innovative equipment, which will eventually surge the growth of distributed temperature sensing market, throughout the forecast period. Also, growing need for safety, efficiency, and productivity in operational process of industries is also anticipated to surge the adoption of distributed temperature sensing technologies in the global market. In addition to this, The significant expansion of industries across the developing economies such as India, China, Brazil and South Korea is one of the major factors to increase in the demand for distributed temperature sensing devices in the global market, during the analysis period.

However, high costs of DTS technologies and lower product penetration in the low and middle income countries is expected to restrain the growth of global market, during the review period.

DTS systems play a crucial role to study hydrogeology due to their capability to monitor the downhole temperature at high frequency. The DTS has been mainly utilized for the estimation of subsurface thermal properties, along with site investigations of groundwater flow. These potentialities may offer primtive opportunities for the global market for distributed temperature sensing technologies, in the coming decades.

On the basis of fiber type, the global market is mainly bifurcated into multimode fiber and single-mode fiber. The multi-mode fiber type is expected to generate a revenue of $340.6 million, throughout the analysis period; owing to the significant role in various monitoring fields such as power cable monitoring, tunnel fire detection, and oilwell (upstream and downstream). In addition, the single-mode fiber type will have the exponential growth, during the review period, and is projected to surpass $447.6 million, over the analysis period; owing to its high efficiency in installation coupled with low poerational cost as compared with other sensors.

Based on operating principle, the global distributed temperature sensing market is mainly classified into OFDR and OTDR. The OFDR sub-segment for the distributed temperature sensing market is anticipated to generate a revenue of $345.3 million during the forecast period. On the other hand, the OTDR sub-segment for the global market shall have a fastest growth throughout the projected timeframe and is expected to surpass $851.2 million in 2027.

Depending on application, the global market for distributed temperature sensing market is mainly categorized intp oil & gas production, process and pipeline monitoring, power cable monitoring, environmental nonitoring, and fire detection. The oil and gas production sub-segment will have a prominent market share and is expected to surpass $325.4 million, during the analysis period. Contrary to this, the power cable monitoring application will have substantial growth, in the projectd timeframe and is expected to register a revenue of $301.0 million in 2027, owing to the increasing adoption of smart grids and real time technologies in industries.

Asia-Pacific region for the distributed temperature sensing market is anticipated to register a revenue of $150.0 million in 2019 and it is predicted to grow at a healthy CAGR of 8.5%, registering a revenue of $290.7 million, during the projected period. However, the North America distributed temperature sensing market shall have a major share and is expected to surpas $361.3 million by 2027.

The industry players operating in the global distributed temperature sensing market include Stmicroelectronics n.v., Infineon Technologies AG, NXP Semiconductors., Atmel Corporation (Microchip Technology Inc.), Qualcomm Technologies, Inc., Robert Bosch GmbH, Texas Instruments Incorporated., Johnson Controls., Honeywell International Inc, and Sony Corporation.

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