Distributed Temperature Sensing Market Report (2020-2025) | The Demand For The Market Will Drastically Increase In The Future

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Japan, Japan, Fri, 25 Dec 2020 07:09:40 / Comserve Inc. / — The global distributed temperature sensing market is valued at $1,196.5 million by 2027, increasing from $648.3 million in 2019 at a noteworthy CAGR of 7.8%.

The global distributed temperature sensing market is valued at $1,196.5 million by 2027, increasing from $648.3 million in 2019 at a noteworthy CAGR of 7.8%.

Distributed Temperature Sensing Market Analysis:
A Distributed temperature sensing (DTS) system is the ideal equipment for the monitoring of temperature across the large surfaces with accuracy. The crucial feature of a DTS system is that it provides a continuous (or distributed) temperature monitoring along the length of the electric cable.

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Impact Analysis of COVID-19 on the Distributed Temperature Sensing Market
The coronavirus disease (COVID-19) outbreak has created a negative impact on multiple sectors like retail, food & beverages, and semiconductors. A majority of nations across the world are majorly disturbed owing to the COVID-19 health emergency. It is projected that global demand for distributed temperature sensing systems shall increase after the COVID-19 crisis is controlled due to novel product innovations. For instance, in March 2020, Sumitomo Electric Industries, Ltd., announced to launch its ‘OPTHERMO FTS3500 fiber-optic DTS system. This innovative system has the capability to monitor wide-range, temperature distribution. These technology innovations are anticipated to offer market opportunities for the global DTS market, during the analysis period
The extensive growth of the global market DTS systems is majorly attributed to its excellent economies of scale along with low operational costs. Moreover, the DTS systems are highly safe for use in hazardous conditions; thus, such innovative sensors are ideal for use in industrial sensing applications. These key elements are expected to bolster the demand for DTS systems, which will ultimately surge the global market growth, throughout the analysis timeframe.

The high initial costs associated with the DTS systems are projected to restrain the demand for DTS systems, during the analysis period.
DTS technologies play a vital role in the monitoring of downhole temperature for hydrogeological study at unprecedentedly high frequency. The DTS has been majorly utilized in site investigations of groundwater flow and subsurface thermal property estimation. In addition, DTS systems are massively used to carry out heat pulse tests, hybrid cable flow logging, and thermal advection tests. These elements may provide lucrative market opportunities for the global DTS market in the future years.
On the basis of fiber type, the global market is mainly divided into single-mode fiber and multimode fiber. The single-mode fiber type for a global distributed temperature sensing market will have exponential growth in the global industry and it is projected to cross $855.9 million by 2027, increasing from $447.6 million in 2019. However, the multi-mode fiber type for the global market is expected to register a revenue of $340.6 million throughout the forecast period.

Based on operating principle, the global market for distributed temperature sensing is mainly categorized into OTDR and OFDR. The OTDR sub-segment for the global DTS market shall have a significant market growth and it is estimated to cross $851.2 million during the review period. On the other hand, the OFDR sub-segment for the global market is expected to register a revenue of $345.3 million over the analysis timeframe.

Depending on application, the global distributed temperature market is analyzed across oil & gas production, power cable monitoring, process and pipeline monitoring, fire detection, environmental monitoring. The oil and gas production sub-segment shall have the major share and is projected to surpass $325.4 million in the analysis timeframe. However, the power cable monitoring application shall be the fastest-growing sub-segment, throughout the review period, and is anticipated to generate a revenue of $301.0 million by 2027.
Asia-Pacific distributed temperature sensing market generated a revenue of $150.0 million in 2019 and it is anticipated to rise at a noteworthy CAGR of 8.5%, generating a revenue of $290.7 million, during the review period.

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Contrary to this, the distributed temperature sensing market for the North America region had the largest share in the global industry. It has registered a revenue of $206.2 million in 2019 and it is projected to register a revenue of $361.3 million throughout the analysis timeframe.

The distributed temperature sensing market players include Stmicroelectronics n.v., Qualcomm Technologies, Inc., NXP Semiconductors., Texas Instruments Incorporated., Sony Corporation, Infineon Technologies AG, Johnson Controls., Robert Bosch GmbH, Atmel Corporation (Microchip Technology Inc.), and Honeywell International Inc.

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The post Distributed Temperature Sensing Market Report (2020-2025) | The Demand For The Market Will Drastically Increase In The Future appeared first on Comserveonline.

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