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The distributed temperature sensing market share is expected to increase by USD 314.03 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.85%.
This distributed temperature sensing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers distributed temperature sensing market segmentation by application (oil and gas, manufacturing, industrial infrastructure monitoring, environmental monitoring, and others) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The distributed temperature sensing market report also offers information on several market vendors, including AP Sensing GmbH, Baker Hughes Co., Bandweaver, Banner Engineering Corp., Furukawa Electric Co. Ltd., GESO GmbH and Co. KG, Halliburton Co., Honeywell International Inc., Johnson Controls International Plc, Luna Innovations Inc., NXP Semiconductors NV, Opsens Inc., Qualcomm Inc., Robert Bosch GmbH, Schlumberger Ltd., STMicroelectronics NV, Sumitomo Electric Industries Ltd., Texas Instruments Inc., Weatherford International Plc, and Yokogawa Electric Corp. among others.
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The need for enhanced safety and improvement in productivity yields is notably driving the distributed temperature sensing market growth, although factors such as the short service life of fiber optic cables may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the distributed temperature sensing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Distributed Temperature Sensing Market Driver
One of the key factors driving growth in the distributed temperature sensing market is the need for enhanced safety and improvement in productivity yields. The improved production yields and enhanced safety measures are essential for subsea oil operations and land mining operations. The recent improvements in the performance and reliability of DTS systems in harsh environments, such as high temperature, high pressure, fiber optic solutions, and hydrogen-rich environments, are in order with the needs of DTS in the oil and gas industry. Moreover, optical fibers can excel in data functions and transport as fully distributed and direct sensors. For distance measurements of up to nine miles, Raman-based backscatter methods are used for fiber interrogation. This allows pipeline and well operators to measure an entire wellbore and pipeline span in near real-time at a resolution of less than 1 meter. In addition, for a distance of up to 37 miles, DTS needs fiber optics that offer single-mode optical fibers, which are designed for demanding environments of the oil and gas sector.
Key Distributed Temperature Sensing Market Trend
The growing importance of DTS in the oil and gas sector is a distributed temperature sensing market trend that is expected to have a positive impact in the coming years. The demand for DTS is high in the oil and gas sector, as it is used for quality assurance of pipelines and other exploration activities from extraction to storage. Oil and gas are required to be kept at accurate temperatures to maintain the quality and safety of extraction activities. The variations in the temperature may lead to poor quality extraction of oil and may result in high chances of disaster. Fiber optics with DTS capabilities is fitted into oil drills to read the temperature when the machine drills deeper into the earth. As there is a possibility of the machine overheating or breaking down due to high temperatures, these distributed temperature sensors are used to prevent the machine from reaching the threshold temperatures. Such factors are anticipated to contribute to the growth of the global DTS market.
Key Distributed Temperature Sensing Market Challenge
The short service life of fiber optic cable will be a major challenge for the distributed temperature sensing market during the forecast period. Fiber optic cables are prone to wear and tear within a short period of time. The short lifespan of fiber optic cables results in the lack of adoption, resulting in the restricted deployment of fiber optic networks by many customers. The short service time increases the expenses for the end-users, as they must replace the optic fiber sensors regularly, and adds to the cost for manufacturers. This is a major concern for the manufacturers in the market. Therefore, the short service life of fiber optic cables may negatively impact the growth of the global DTS market.
This distributed temperature sensing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global distributed temperature sensing (DTS) market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the distributed temperature sensing market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the distributed temperature sensing market encompasses successful business strategies deployed by the key vendors. The distributed temperature sensing market is fragmented and the vendors are deploying growth strategies such as focusing on technological advancements to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The distributed temperature sensing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the distributed temperature sensing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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31% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for distributed temperature sensing in APAC. Market growth in this region will be faster than the growth of the market in other regions.
APAC is one of the largest markets for refineries and petrochemicals, which results in the high demand for distributed temperature sensors. This will facilitate the distributed temperature sensing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 outbreak in China in 2020, which later spread across regions, severely affected several countries in the region, including China, India, South Korea, and Japan. The outbreak affected the overall economy of APAC, as well as supply chains and the operations of the industrial and telecommunication sectors. However, several companies, including telecommunication providers, are adopting cloud-based storage solutions and next-generation telecommunication solutions with increased data centers. These factors are expected to carry out the routine activities of various providers, which are expected to drive the growth of the DTS market in the region during the forecast period.
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The distributed temperature sensing market share growth by the oil and gas segment will be significant during the forecast period. In the oil and gas segment, the advantages of fiber optic cables with DTS technology, such as electrical immunity, tolerance to extremely harsh environments, long-term measurement stability, and dense multiplexing capability, have resulted in the widespread adoption of DTS technology-based fiber optic cables. Vendors in the market have been focusing more on improving oil recovery since 2005 owing to the growing adoption of multilateral hydraulic fracturing, and continuous investment of capital in thermally enhanced oil recovery techniques has improved the demand for DTS technology.
This report provides an accurate prediction of the contribution of all the segments to the growth of the distributed temperature sensing market size and actionable market insights on post COVID-19 impact on each segment.
Distributed Temperature Sensing Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.85% |
Market growth 2022-2026 |
$ 314.03 million |
Market structure |
Fragmented |
YoY growth (%) |
5.52 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 31% |
Key consumer countries |
US, Saudi Arabia, China, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AP Sensing GmbH, Baker Hughes Co., Bandweaver, Banner Engineering Corp., Furukawa Electric Co. Ltd., GESO GmbH and Co. KG, Halliburton Co., Honeywell International Inc., Johnson Controls International Plc, Luna Innovations Inc., NXP Semiconductors NV, Opsens Inc., Qualcomm Inc., Robert Bosch GmbH, Schlumberger Ltd., STMicroelectronics NV, Sumitomo Electric Industries Ltd., Texas Instruments Inc., Weatherford International Plc, and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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