Jan 11, 2022   SOURCE: BusinessWire

Global Fiber Bragg Grating Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Fiber Bragg Grating Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (FBG Sensor and FBG Filter & Others), Application (Sensing, Measuring, Monitoring, and Others), and Industry (Telecommunication, Aerospace, Energy and Utilities, Transportation, and Others)" report has been added to ResearchAndMarkets.com's offering.

The global fiber bragg grating market was valued at US$ 1,500.6 Million in 2021 and is expected to grow at a CAGR of 25.7% during the forecast period of 2021 to 2028 to reach US$ 7,435.3 Million by 2028.

A fiber bragg grating is a few millimeters long, very reliable, and highly sensitive product used for measuring, sensing, and monitoring application among diversified industries. Fiber bragg grating gives advantages to devices such as immunity to electromagnetic & radio frequency interference, low loss relative to fiber length, and small size & weight; and it is safe for operation in an environment consisting of hazardous materials.

The rise in application areas of fiber bragg grating for temperature and strain measurements and the development of automated fiber bragg grating production systems are boosting the market growth. Also, the emergence of ultra-long fiber bragg grating is further accelerating market growth. Due to their direct absolute measurement and unique wavelength multiplexing capability properties, their adoption in aerospace, telecom, security & monitoring sectors is expanding. All the factors mentioned above are positively impacting the fiber bragg grating market growth.

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services.

Manufacturing, automotive, semiconductor and electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The FBG market players also experienced a decrease in volumes because the manufacturing facilities had a limited workforce. This has had a negative impact on the market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global fiber bragg grating market.
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  • The key findings and recommendations highlight crucial progressive industry trends in the global fiber bragg grating market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Rising Application Areas of Fiber Bragg Grating
  • Increasing Adoption of Fiber Bragg Grating Due to Their Advantages

Restraints

  • High Production Cost

Opportunities

  • Fiber Bragg Grating Production System is Automated

Future Trends

  • Development of Ultra-Long Fiber Bragg Gratings

Companies Mentioned

  • AOS GmbH
  • Alnair Labs Corporation
  • FBGS Technologies GmbH
  • HBM Fibersensing S.A
  • ITF Technologies Inc.
  • Ixblue Photonics
  • Micron Optics (Luna Innovations)
  • Proximion AB
  • Technica
  • TeraXion

For more information about this report visit https://www.researchandmarkets.com/r/wajfrh