Canada Distributed Fiber Optic Sensor Market Size & Outlook
Canada distributed fiber optic sensor market, 2018-2030 (US$M)
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Canada distributed fiber optic sensor market highlights
- The Canada distributed fiber optic sensor market generated a revenue of USD 167.9 million in 2023 and is expected to reach USD 232.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, temperature sensing was the largest revenue generating application in 2023.
- Acoustic/Vibration Sensing is the most lucrative application segment registering the fastest growth during the forecast period.
Distributed fiber optic sensor market data book summary
| Market revenue in 2023 | USD 167.9 million |
| Market revenue in 2030 | USD 232.0 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Temperature sensing |
| Fastest growing segment | Acoustic/Vibration Sensing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acoustic/Vibration Sensing, Temperature Sensing, Other |
| Key market players worldwide | Halliburton Co, Schlumberger Ltd, Yokogawa Electric Corp., OFS Capital Corp, QinetiQ Group PLC, AG Barr PLC, Luna Innovations Inc, Agilent Technologies |
Other key industry trends
- In terms of revenue, Canada accounted for 10.5% of the global distributed fiber optic sensor market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. distributed fiber optic sensor market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 91.3 million by 2030.
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Distributed Fiber Optic Sensor Market Scope
Distributed Fiber Optic Sensor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada distributed fiber optic sensor market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to distributed fiber optic sensor market will help companies and investors design strategic landscapes.
Temperature sensing was the largest segment with a revenue share of 46.81% in 2023. Horizon Databook has segmented the Canada distributed fiber optic sensor market based on acoustic/vibration sensing, temperature sensing, other covering the revenue growth of each sub-segment from 2018 to 2030.
In Canada, several research initiatives and investments have been invested in distributed fiber optic sensing (DFOS) technology. For instance, the National Research Council of Canada (NRC) has developed expertise in DFOS to monitor critical infrastructure, such as bridges and pipelines.
Moreover, several companies in Canada specialize in DFOS technology, such as OptaSense, a subsidiary of QinetiQ, which provides advanced sensing solutions for security and surveillance, and Solifos, which offers monitoring solutions for the energy sector. Major funding for DFOS technology research and development in Canada is augmenting the market growth.
For instance, in 2021, the Canadian government announced a $10 million investment in the University of Alberta's fiber optic sensing research, which includes DFOS. The investment is expected to accelerate the development and commercialization of DFOS technology, with a focus on its application in the oil and gas industry.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada distributed fiber optic sensor market , including forecasts for subscribers. This country databook contains high-level insights into Canada distributed fiber optic sensor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada distributed fiber optic sensor market size, by application, 2018-2030 (US$M)
Canada Distributed Fiber Optic Sensor Market Outlook Share, 2023 & 2030 (US$M)
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