Close

Search

Search Menu
Photonics Media Photonics Marketplace Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook

Fiber Optic Sensors Market Projected to Reach $2.2B by 2018

Facebook Twitter LinkedIn Email Comments
WELLESLEY, Mass., Aug. 12, 2014 — The global market for fiber optic sensors is expected to reach $2.2 billion by 2018, representing a compound annual growth rate (CAGR) of 4.5 percent since 2013, according to a BCC Research analysis.

The firm said the defense industry is the largest consumer in the market but is set to shrink, representing negative growth, due to spending cuts in the U.S. However, other fiber optic sensor applications should see a CAGR of 10.4 percent.

Medical applications show the greatest potential, but growth depends on regulatory approval for new devices, BCC said.

Fiber optic sensors “found a lucrative niche in the oil and gas market, as they opened an entire new revenue stream for service providers,” said BCC Research analyst Lori Weisenbach Cornett. “However, improvements in sensor robustness will be required for (fiber optic sensors) to realize their potential in this market.”

For more information, visit www.bccresearch.com.

Photonics.com
Aug 2014
BiophotonicsAmericasAsia-PacificBusinessEuropefiber opticslight speedSensors & DetectorsRapidScan

Comments
LATEST HEADLINES
view all
PHOTONICS MARKETPLACE
Search more than 4000 manufacturers and suppliers of photonics products and services worldwide:

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2021 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA, [email protected]

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.