Distributed Acoustic Sensing Market Size Forecast to Reach $1.6 Billion by 2026

(IT-NEWSWIRE.COM, August 18, 2021 ) Distributed Acoustic Sensing Market size is forecast to reach $1.6 billion by 2026, growing at a CAGR of 13.2% from 2021 to 2026. The Distributed Acoustic Sensing market is estimated to witness substantial growth over the forecast period primarily due to increase in technological advancements and durability and reliability of fiber optic systems. Distributed Acoustic Sensors are revolutionary photonic sensing technologies that convert standard communications fibre into a linear array of discrete vibration sensors.

This technology utilizes advanced sensing technology to collect vibrations and activities such as leakages, moving vehicles, hot tapping pipelines and more. Distributed Acoustic Sensors operate with standard telecommunications grade optical fibres and provide information using visualization software. The adoption of this system by oil and gas industries and others to determine properties and characteristics of flow in different pipes etc is expected to propel the distributed acoustic sensing market growth during the forecast period.

The advancement in this system such as increasing processing speed to make data interpretation much faster is rising the demand for distributed acoustic sensing system industry.

Distributed Acoustic Sensing Market Segment Analysis - By Component

In component segment, Distributed Acoustic Sensing software is expected to have fastest growth in the market as visualization software plays a crucial role in sensing and signalling the route of optical fiber and highlight the location of leakage, security breach, and more. However hardware segment contributed the largest share in the market due to rapid increase in investment towards advanced sensing technology market by the industries verticals.

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Distributed Acoustic Sensing Market Segment Analysis - By End user industry

The market is segmented by the end user industry into Transportation, oil and gas, military, infrastructure, telecommunication, automotive and others. The Transportation segment is projected to grow at the fastest rate of 16.9% through 2026. Expansion of pipeline network across the globe increases the requirement of Distributed Acoustic Sensing for identifying the events such as leaks. Thus, oil and gas industries holds the largest share in global Distributed Acoustic Sensing market and are expected to dominate the market in forecast period.

Distributed Acoustic Sensing Market Segment Analysis - By Geography

North America holds the largest share in global distributed acoustic sensing market with 34% in 2020. APAC is considered to have fastest growth over the forecast period due to rise in development and expansion of oil and gas and increase in investment. China is expected to contribute towards the growth of APAC region as it has significant growth in infrastructure, oil and gas industries, military and telecommunication industries and more. The rising demand for visualization software and advanced sensing technology will drive market demand.

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Distributed Acoustic Sensing market Drivers

Increase in use of DAS in Seismology

The rising demands of distributed strain measurements in areas such as aeronautics, civil engineering, and more is increasing demand for distributed acoustic sensing. This system plays crucial role in the next generation seismic networks as the improved performance of distributed acoustic sensing has unveiled their strong potential in providing an excellent platform for data acquisition which is set to propel the market in forecasted period.

Technological Advancement

Advancement in technology is one of the major drivers for growing distributed acoustic sensing market. The recent advancement in DAS is based on phase sensitive Optical Time Domain Reflectometry (OTDR) which provides more precise quantitative measurement of an external impact based on frequency shift and phase demodulation methods using simple direct detection. This sensor provide safety and integrity monitoring applications, fast changing parameters such as dynamic strain or vibration and more. Apart from this advanced sensing technology and improvements in visualization software will drive market growth.

Distributed Acoustic Sensing Market Challenges

Locating Microseismic Events

Microseismic is an important method of monitoring the behavior of subsurface fluid processes, and it is commonly acquired using geophone array on the surface. Distributed Acoustic Sensing offer high density arrays In locating microseismic events. However there are challenges in locating microseismic events using Distributed Acoustic Sensing as it records only seismic data in one component and omits the azimuthal information provided by a three component geophone.

Distributed Acoustic Sensing Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in Distributed Acoustic Sensing market. The Distributed Acoustic Sensing market is dominated by major companies such Halliburton, Future Fibre Technologies, Fotech Solutions, Schlumberger, OptaSense, fibrisTerre, Febus Optics, Omnisens, AP Sensing, Fiber SenSys.

Acquisitions/Technology Launches/Partnerships

In February 2020, OptaSense announced a new subsidiary to meet the growing demands of the Canadian market. The expansion is aimed to support the company’s growth for engineering and service teams worldwide.

In October 2019, Halliburton announced an agreement with Repsol S.A. This agreement aimed to provide a cloud-based master data management solution for exploration and production activities.

Key Takeaways

The Distributed Acoustic Sensing market is estimated to witness substantial growth over the forecast period primarily due to increase in technological advancements, durability and reliability of fiber optic systems and its long distance intervals which are suitable for functioning in harsh environment.

The visualization software for Distributed Acoustic Advanced Sensing technology performs signalling the optical fiber and highlights the location of leakage, security breach, and more. The software contributes to the growth of market which enable industries a new way to detect the problem.

Due to high investment and development of pipeline network of oil and gas industries are contributing to the growth of Distributed Acoustic Sensing market.

Distributed Acoustic Sensing market is dominated by APAC and is considered as the fastest growing region for Distributed Acoustic Sensing market. With increasing oil production operations and infrastructure, China in APAC is expected to hold large share.

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Distributed Acoustic Sensing Market Size Forecast to Reach $1.6 Billion by 2026