Predictions Made for Fiber Optic Sensor Industry
Global revenues for fiber optic sensors are projected to rise to $304.3 million in 2006, from a current estimate of $288.1 million, according to a report from Business Communications Co. Inc. of Norwalk, Conn. The updated document, “RG-116N Fiber Optic Sensors,” suggests that revenues will increase at an average annual growth rate of 4.1 percent to $371.8 million by 2011. It further indicates that, to move beyond the status of niche applications, the sensors must drop in price significantly.
Estimated at $214.8 million in 2005, the market for extrinsic sensors, which are used in the telecommunications industry, is expected to grow at a rate of 4.1 percent until 2011, reaching a revenue value of $274.4 million. Forecast to grow at a rate of 4 percent to $97.4 million, the intrinsic sensor market is lagging in some application markets. Intrinsic sensors are primarily used in military applications, which are often specialized and seldom lead to mainstream markets.
Promise exists in the medical market for the sensors, which may be used in minimally invasive treatment applications. Current revenues in this area are modest, however, because of the challenges facing the technology.
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