Aug 9, 2018   SOURCE: BusinessWire

Fiber Optics Sensor Market - Forecasts from 2018 to 2023 - ResearchAndMarkets.com

The "Fiber Optics Sensor Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.

The fiber optics sensor market was valued at US$1.986 billion in 2017 and is projected to grow at a CAGR of 9.79% over the forecast period to reach US$3.479 billion by 2023.

Rising adoption of these sensors in the healthcare industry and their operational sensing efficiency in harsh environments will be the major factors driving the demand for these sensors. In addition, increasing research expenditure to make advancements in the fiber optic sensing technology will further add to the growing demand for these sensors.

However, the high cost of these as compared to their substitutes will impede the adoption of these sensors over the forecast period. Geographically, North America and Europe held a significant market share and the APAC region is projected to witness substantial growth in the next few years.

Major industry players profiled as part of the report are Opsens Solutions, Omron Corporation, Banner Engineering Corporation, Sick AG, Hamamatsu Photonics, Broadcom, and TE Connectivity among others.

Segmentation:

By Type

  • Intrinsic Fiber-Optic Sensor
  • Extrinsic Fiber-Optic Sensor

By Application

  • Chemical Sensor
  • Physical Sensor
  • Bio Medical Sensor

By End-User Industry

  • Healthcare
  • Oil and Gas
  • Defense and Aerospace
  • Information Communication and Technology
  • Others

Companies Mentioned

  • Opsens Solutions
  • Omron Corporation
  • Banner Engineering Corporation
  • Sick AG
  • Hamamatsu Photonics
  • Broadcom
  • TE Connectivity
  • Panasonic Corporation
  • Takenaka Electronic Industrial Co., Ltd.
  • Specto Technology

For more information about this report visit https://www.researchandmarkets.com/research/8kwfw5/fiber_optics?w=4