New York, NY, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Distributed Acoustic Sensing Systems Market By Type (Single Mode and Multimode) and By Application (Injection Flow, Production Flow, Wellbore Integrity Monitoring, Cross Well Analysis, Transport Tracking and Health Monitoring, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global distributed acoustic sensing systems market was USD 350 million in 2018 and is expected to reach around USD 922 million by 2027, growing at a CAGR of 11.7% between 2019 and 2027.
A distributed acoustic sensing system (DAS) is a fiber optic optoelectronic instrument that measures acoustic interactions along with the linear measure of a fiber optic sensing cable. The combination of optical fiber and light speed creates a mechanism insulated from environmental interference, which provides a continual or scattered temperature profile along the length of the sensing cable.
Browse through 37 Tables & 22 Figures spread over 137 Pages and in-depth TOC on “Global Distributed Acoustic Sensing Systems Market: By Product, Type, Applications, Industry Share, Size, Growth, Analysis and Forecast, 2018–2027”.
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Distributed acoustic sensors can detect variations at different intervals over long distances, which make these sensors perfect for operating in remote and harsh environments. These conditions are normal in oilfield applications and the petroleum industry. A large number of companies are utilizing these sensors, due to their capabilities to determine physical properties and flow characteristics inside the pipes and near the wellbore. Moreover, technological advancements in the material sciences sector, such as development in glass chemistry delivering strong fiber cables, better algorithms, and enhancements in computer processing speed, have enabled data collection and interpretation methods easier and faster. All these factors are anticipated to drive the distributed acoustic sensing systems market. DAS technology is deployed in the oil and gas industry to monitor temperature and pressure, increase production volumes, and improve safety. The rising demand for sensing in rough environments coupled with rugged optical fiber technology development has significantly benefitted the oil and gas industry. This is another major factor fuelling the distributed acoustic sensing systems market. However, since the last few years, the distributed acoustic sensing systems market has been negatively affected by the significant decline in global oil prices.
On the basis of type, the market for distributed acoustic sensing systems is bifurcated into a multimode and single mode. The multimode segment is projected to hold the highest market share while single mode segment is anticipated to grow significantly over the estimated time period. By application, the distributed acoustic sensing systems market includes wellbore integrity monitoring, cross well analysis, injection flow, transport tracking, and health monitoring, production flow, and others. The production flow segment is likely to hold the largest market share, whereas the cross well analysis segment is anticipated to grow rapidly over the projected time period.
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The North American distributed acoustic sensing systems market is anticipated to grow modestly over the projected time period, owing to improved infrastructure in major countries like the U.S. and Canada, rising regional demand for energy, increasing acoustic sensors demand by the consumer electronics industry.
Europe is expected to hold a considerable share of the distributed acoustic sensing systems market in the years ahead, owing to rapid advancements witnessed in various technologies and the regional presence of prominent players and rapid advancements in technology. Moreover, the manufacturers in Europe majorly focus on production quality and prices related to the product, which is another factor boosting the market growth.
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The Asia Pacific is expected to grow considerably in the distributed acoustic sensing systems market globally, owing to the presence of growing economies like China, India, etc. The rapid adoption of DAS technology in the medical sector is generating new market opportunities in the Asia Pacific. Countries, such as Japan, China, etc., are making significant investments in enhancing their infrastructural security. Moreover, the growing awareness regarding the technological benefits of DAS is also contributing to the region’s distributed acoustic sensing systems market.
The presence of growing economies in Latin America, such as Argentina and Brazil, increasing government initiatives, and various technological advancements are the key factors driving the distributed acoustic sensing systems market. Moreover, growing research and development investment is expected to provide new opportunities for market growth.
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Advanced technologies and solutions like DAS and video surveillance are necessary for the Middle East and Africa, owing to the increased spending by oil and gas companies to get reliable protected networks. Moreover, the up-gradation of refineries and the rising demand for natural gas are further fuelling the distributed acoustic sensing systems market. In addition, the political instability in the Middle East region also boosts the distributed acoustic sensing systems market.
Some noticeable players in the distributed acoustic sensing systems market are Banweaver, Fotech Solutions, Future Fiber Technologies, Halliburton, Hifi Engineering, Omnisens, OptaSense, Schlumberger Limited, Silixa, and Ziebel.
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This report segments the global distributed acoustic sensing systems market into:
Global Distributed Acoustic Sensing Systems Market: By Type
- Single Mode
- Multimode
Global Distributed Acoustic Sensing Systems Market: By Application
- Injection Flow
- Production Flow
- Wellbore Integrity Monitoring
- Cross Well Analysis
- Transport Tracking and Health Monitoring
- Others
Global Distributed Acoustic Sensing Systems Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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