Get in-depth analysis of how COVID-19 is impacting the Distributed Temperature Sensing Market
The overall distributed temperature sensing market is expected to grow from USD 734 million in 2020 to USD 958 million by 2025, at a CAGR of 5.5%. The growth of this market is mainly driven by the growing demand for labor safety at workplaces, reliability of DTS systems/sensors for sensing and monitoring applications in harsh environments, and increasing applications in the oil & gas industry. Increasing safety norms and supportive government policies related to leakage detection and growing adoption of data-based analytics provide major opportunities for the growth of the distributed temperature sensing market.
Multimode fiber to hold largest share of distributed temperature sensing market during forecast period
In 2019, multimode fibers held the largest size of the distributed temperature sensing market. Multimode fibers have a relatively large light carrying core. These are available in core sizes of 50µm and 62.5µm and are widely used in DTS applications. The transmitted rays of light are allowed to follow multiple paths within the fiber. The large core diameter helps to propagate more optical power in the fiber. The signal undergoes dispersion since many modes are present, and hence there is more power loss as compared to single-mode fiber, which eventually restricts the signal carrying capacity in terms of distance covered.
Largest share of oil & gas in distributed temperature sensing market is due to growing implementation of DTS systems
DTS technology has become an integral part of the oil & gas industry. DTS systems help in continuous, real-time downhole monitoring to optimize the operational and economic performance of assets. This enables reservoir engineers to gain a better understanding of the injection and production dynamics, and accordingly optimizing the production and improving recovery, subsequently leading to improved profits. Hence, there is an increasing focus on adopting the technology for enhancing the productivity of brownfield operations. The analysis of the data collected by DTS systems can provide additional information on the well behavior, for example, the flow volume within a particular section of the well.
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Market in APAC expected to grow significantly during forecast period
The distributed temperature sensing market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing construction activities worldwide and the expanding network of power transmission cables in technologically advancing countries in APAC, such as China and India, are contributing to the growth of the DTS market in this region. India, China, South Korea, and Australia are some of the major countries contributing to the growth and development of the DTS market in this region. The presence of several oil & gas companies in APAC is also driving the growth of the DTS market in this region.
Key Market Players
The distributed temperature sensing market is currently dominated by Schlumberger Limited (US), Halliburton Company (US), Yokogawa Electric Corporation (Japan), Weatherford International PLC (Switzerland), Sumitomo Electric Industries (Japan), OFS Fitel (US), AP Sensing GmbH (Germany), Bandweaver Technologies (China), NKT Photonics (Germany), and GESO GmbH & Co. (Germany). A few of the major strategies adopted by these players to compete in the distributed temperature sensing market are contracts, partnerships, collaborations, agreements, product launches and developments, and acquisitions.
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