Kenneth Research, in its repository of market research reports, has recently added a report on Distributed Temperature Sensing Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Distributed Temperature Sensing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Distributed Temperature Sensing Market products.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Distributed Temperature Sensing Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.
Global Distributed Temperature Sensing Market was valued at USD 568.19 million in 2017 and is projected to reach USD 1004.07 million by 2025, growing at a CAGR of 7.4% from 2018 to 2025.
What is Distributed Temperature Sensing?
Distributed temperature sensing (DTS) is defined as a real time temperature measurement process that is used to providing continuous monitoring for the entire length of the cable. It involves monitoring across the entire cable covering all the critical measurement points. A DTS system uses light pulses that are reflected by optical fiber for efficient temperature and pressure measurement changes. Distributed temperature sensing system have applications in the following industrial sectors: oil & gas, upstream, fire detection, process & pipeline monitoring, downstream, power cable monitoring and environmental monitoring
Global Distributed Temperature Sensing Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Rise in demand for safety of labors at work sites, monitoring systems automation in harsh working environments, and high reliability & wide coverage of DTS systems along with growing market for the subsea sector have been driving global distributed temperature sensing market. On the other hand, lacking utilization of the data gathered by DTS systems and technical hitches might act as restraints for the overall market at a global level.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Distributed Temperature Sensing Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Distributed Temperature Sensing Market Competitive Landscape
The “Global Distributed Temperature Sensing Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Halliburton Co., Sensornet Ltd., Innosys Industries, Inc., OFS Fitel Llc, LIOS Technology GMBH, Schlumberger NV, Omnisens SA, Yokogawa Electric Corp., Weatherford, International PLC, Sumitomo Electric Industries Ltd., Omicron Electronics GMBH, Tendeka B.V., AP Sensing GMBH and GESO. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Distributed Temperature Sensing Market Segmentation, by Operating Principle
• Optical time domain reflectometry (OTDR)
• Optical frequency domain reflectometry (OFDR)
Global Distributed Temperature Sensing Market Segmentation, by Fiber Type
• Single-mode fiber
• Multi-mode fiber
Global Distributed Temperature Sensing Market Segmentation, by Application
• Oil & gas
• Fire detection
• Process & pipeline monitoring
• Power cable monitoring
• Environmental monitoring
Global Distributed Temperature Sensing Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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