HomeBusinessRetailDistributed Acoustic Sensing Market Business Opportunities, Current Trends, and Challenges 2025
Distributed Acoustic Sensing Market Business Opportunities, Current Trends, and Challenges 2025
May 11, 2021
The global distributed acoustic sensing market is anticipated to value USD 775.8 million until 2025. It is also expected to register a CAGR of 11.5% over the forecasted years, 2019 to 2025. The increasing need for inspection and monitoring of fluid flow across the petroleum industry coupled with the rapid technological advances in sensing technology is projected to drive the market growth across the globe.
The single-mode fiber optic segment accounted for a significant share in 2018 due to its feature of permitting limited external interference. Also, their lower thickness and ability for longer-range transmission is further expected to drive the market growth over the forecasted period, 2019 to 2025.
The segment of oil & gas held the largest share across the global market due to rising usage for flow monitoring, pipeline monitoring, intrusion detection, and asset management. The segment of environment & infrastructure is also anticipated to hold substantial share across the market due to the need for monitoring and tracking of gases and fluids in the surrounding for reducing the environmental pollution.
In 2018, North America dominated the global market with 34.0% share on account of the surging presence of the oil & gas industry across this region. While the Asia Pacific is expected to witness the highest growth from 2019 to 2025 owing to surging usage of fiber optics across the telecom sector prevailing in this region.
The market for the distributed acoustic sensing includes key players such as OptaSense; Baker Hughes; Halliburton; Ziebel; and Northrop Grumman Corporation. They are constantly implementing strategies like collaborations, mergers, partnerships, and acquisitions to gain a competitive advantage over other players.
COVID-19 Impact Insights
The global market for distributed acoustic sensing has been negatively affected on account of ongoing COVID-19 pandemic. This can be associated with operational stagnancy across the oil & gas industry worldwide. Also, a reduction in demand for automotive fuels on account of travel restrictions, fluctuations in the petroleum prices, and restrictions over cargo movement across national and international borders are anticipated to hinder the market growth for oil and gas, thereby obstructing demand for DAS systems.
Also, the oil and gas exploration activities have been affected on account of lockdown imposition. The key players are also operating with a minimal workforce which is anticipated to merely satisfying the demand without attaining market growth. But, in the post-pandemic period, the demand for DAS systems is anticipated to boost due to rapid technological advances across this sector coupled with the increasing need for inspection and measurement of fluids.