Global Distributed Acoustic Sensing Market 2016-2020
Market outlook of the distributed acoustic sensing market
Technavio’s research analyst predicts the global distributed acoustic sensing market to grow steadily at a CAGR of around 10% during the forecast period. The high tolerance and operational capability of distributed acoustic sensors in extreme environments are the key growth drivers for this market. Distributed acoustic sensors can operate at extreme temperature conditions without getting non-functional and are being used by the oil and gas industry to increase the safety of plants, pipelines, and oil wells.
The increasing exploration of unconventional resources is also expected to boost the market growth during the forecast period. An increase in consumption of oil and gas and the decline in the production of conventional oil reserves have forced many vendors and governments to invest in exploration of unconventional resources such as tight oil, shale gas, CBM (natural gas locked in coal), and heavy oil. This has led to an increase in deep-sea and ultra-deep-sea drilling activities for exploration of unconventional resources. Distributed acoustic sensors are integrated into the equipment used during the drilling and exploration stages of these unconventional resources.
End-user segmentation and analysis of the distributed acoustic sensing market
- Oil and Gas
During 2015, the oil and gas segment was the largest revenue contributor to the global distributed acoustic sensing market with a revenue share of around 54%. The use of effective monitoring applications, which are integrated with distributed acoustic sensors, has improved the efficiency of oil and gas production and transportation systems by preventing leakage in oil and gas pipelines to a large extent. It is estimated that the adoption of these monitoring systems will grow during the forecast period, increasing the demand for distributed acoustic sensing.
Geographical segmentation and analysis of the distributed acoustic sensing market
The Americas accounted for 45% of the market share during 2015 and is expected to grow at a CAGR of 9% during the forecast period. The primary reason for the high market share is the high adoption rate of distributed acoustic sensors in the oil and gas industry in this region. The availability of huge reserves and the advances in technology for offshore oil and gas extraction has resulted in increased exploration and drilling activities. North America is the world's second-largest consumer of crude oil and demand in the region is constantly increasing, which is expected to support the growth of the market.
Competitive landscape and key vendors
The global distributed acoustic sensing market is highly fragmented due to the presence of numerous vendors who have a diversified portfolio and offer different types of sensors. The report projects the vendor competition to intensify during the forecast period, with a focus on the developing regions.
The leading vendors in the market are -
Other prominent vendors in the market include Fotech Solutions, Optasense, fibrisTerre, OZ Optics, Pruett Tech, Optellios, AP Sensing, and POLUS-ST.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global distributed acoustic sensing market?
- What are the key market trends impacting the growth of the distributed acoustic sensing market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global distributed acoustic sensing market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the distributed acoustic sensing market?
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