2014 Photonic Sensor Market Report

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Market projected to be $1.458 billion

2014 Photonic Sensor Market Report
2014 Photonic Sensor Market Report

The distributed fiber optic sensor market stood at $585 million in 2013. The market is projected to be $1.458 billion in 2018 with 70% associated with the oil and gas segments, according to a recent market survey report conducted by the Photonic Sensor Consortium and published by Information Gatekeepers.

Distributed fiber optic sensors are an enabling technology that creates smart systems in a variety of applications. The initial commercialization efforts focused on military applications. However, the need to function in harsh environments and the development of optical fiber technology that can survive in these applications has significantly impacted the oil and gas industry. These smart sensing systems provide benefits throughout the life of a well from exploration to drilling and completion, production and reservoir management. There is no other technology that can provide critical process control information spatially throughout well in real time over long periods. Without smart well technology, fracture monitoring and analysis and applications like steam assisted gravity drainage (SAGD) would be very difficult to effectively implement.

More information on the subject can be found here.

Posted on September 22, 2014 - (122 views)
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