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Distributed Temperature Sensing (DTS) Market Progresses for Huge Profits by 2030

Allied Market Research, titled, “Distributed Temperature Sensing (DTS) Market By Fiber Type, Operating Principle, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the distributed temperature sensing market size was valued at $734.23 million in 2020, and is projected to reach at $1.5 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030.  

A distributed temperature sensing (DTS) technology is an enhanced temperature monitoring device used to monitor optical fiber solution over a long distance or across large surfaces. The distributed temperature sensing technology is designed to be used across submarine and underground power cables. Further, DTS system used in prime industries, such as oil & gas, pipelines, and fire detection offers critical information about the actual reservoir conditions. In addition, the rise in demand for high-speed network solutions is expected to significantly contribute in the growth of the market in the coming years.  

The growth of the global distributed temperature sensing market is majorly driven by increase in rules and regulations pertaining to safety standards paired with rise in demand for distributed temperature sensing in oil & gas applications. Moreover, wider applications are anticipated to drive the growth of market. However, complex fault detection and troubleshooting process acts a restraint of the global distributed temperature sensing market. On the contrary, growing investment in smart grid technology is anticipated to provide lucrative opportunities for the market during the forecast period. 

According to distributed temperature sensing market analysis, the single-mode fiber segment was the highest contributor to the market in 2020. The oil & gas and power cable monitoring segments collectively accounted for around 50.0% market share in 2020. Surge in adoption of smart infrastructure solution has led the growth of the distributed temperature sensing solutions in oil & gas and fire detection segments; thereby, enhancing the distributed temperature sensing market growth. 

The outbreak of COVID-19 significantly impacted the growth of the distributed temperature sensing market, owing to a significant impact on prime market players. Conversely, the rise in demand for automatic monitoring solutions and artificial intelligence solutions escalated the demand for distributed temperature sensing solutions during the pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdown implemented by governments restrained the growth of the market. On the contrary, the emerging economies significantly witness the need for a smart infrastructure solution that is expected to boost the market post-pandemic. 

Region-wise, Asia-Pacific holds a significant share in the global distributed temperature sensing market, owing to presence of prime players in this region. Further, China holds a dominating position in the market, owing to rise in investment by prime players and government agencies to develop next generation distributed temperature sensing solution. The adoption of digital infrastructure solution is expected to propel the growth of the distributed temperature sensing market trends in the region. 

Key Findings of the Study 

By technology, the single mode fiber segment accounted for maximum revenue in 2020, and is projected to grow at a notable CAGR of 7.4% during the forecast period. 

By application, the oil & gas and power cable monitoring segments together accounted for around 50.0% of the distributed temperature sensing market share in 2020. 

By operating principle, the optical time domain reflectometry display segment is projected to witness growth at a CAGR of 7.8% during the forecast period. 

By region, Asia-Pacific contributed a major share in the market, accounting for more than 35.4% share in 2020. 

The key market players profiled in the report include, Halliburton Co., Furukawa Electric Co. Ltd., OFS Fitel LLC, Luna Innovations, Schlumberger N.V, Prysmian Group, Weatherford International PLC, Sumitomo Electric Industries Ltd., Bandweaver Technologies, and Yokogawa Electric Corporation. These market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the market. 

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Torque Sensor Market to Surge at a Robust Pace in Terms of Revenue Over 2026

Allied Market Research, titled, "Torque Sensor Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018–2026", the global torque sensor market size was valued at $8.39 billion in 2018 and is estimated to reach $16.82 billion by 2026, growing at CAGR of 7.7% from 2019 to 2026.

The Torque meters or Torque transducers are used to measure the torque of the systems that are rotating such as electric motors, gear box, craft shifts, and others. An important parameter in all the machines and engines is torque, which requires constant monitoring and measurement. The market is growing, owing to rise in application of torque sensors in the automotive sector. The market has a great opportunity to grow, owing to the development in the non-contact and wireless sensors.

The global torque sensor market is expected to witness high growth rate during the forecast period, owing to increase in demand for rotary and linear force torque sensors due to their wide usage in automotive application. Manufacturers of automotive are incorporating more torque sensors in their tools to add additional features and keep ahead of other players in the highly competitive market.

The sensors have penetrated in almost every industry vertical but have highest usage in automotive, followed by industrial and aerospace & defense, among others. Cars incorporate torque sensors such as rotary, reaction, pressure, and force, among others, to keep a track on parameters and provide a centralized system for automatic control. Increase in the trend of robotics in the production process is anticipated to boost the overall torque sensor market growth.

The torque sensors are used to keep a track of various parameters such as temperature, pressure, flow, level, and others to make the control of the whole process suitable and easy going through a robot. This is because the torque sensors measure and feed their values to a centralized unit, which controls these parameters automatically. 

On the basis of torque sensor types, the dynamic torque sensor segment generated the highest revenue in 2018, followed by the static torque sensor segment. The torque sensor market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to witness substantial growth in the global automotive steering torque sensor market. This is attributed to increase in demand for such vehicles in various countries such as Germany and the U.K. 

The major factors that affect the adoption rate of torque sensor in North America include technological advancements and ongoing R&D activities in autonomous vehicles and in the automotive industry for the adoption of advanced technology. Moreover, rapid developments in the Middle East, in terms of technological developments and medical facilities fuel the growth of the LAMEA market.

The growth of the torque sensor market is driven by substantial growth in the demand for high performance vehicles, increase in penetration of EPS in passenger vehicles, and surge in demand for new measurement technologies. However, high installation cost is expected to restrain the growth of the market. Furthermore, emerging application of torque sensor in healthcare vertical and evolution in the use of torque sensor in industrial application offer lucrative opportunities for the market growth.

Key Findings of the Study:

By type, the static torque sensor segment generated the highest revenue in the market in 2018.

By application, the automotive segment generated the highest revenue in the market in 2018.

By region, Asia-Pacific secured highest share in torque sensor industry in 2018.

The key market players profiled in the report include ABB Ltd., Honeywell International corporation, Infineon Technologies, Kistler Group, Sensor Technology, PCB Peozotronics, Crane Electronics, Datum Electronics, Futek Advanced Sensor Technology Inc., and HBM. These key players adopted several strategies such as new product launch and development, acquisition, partnership & collaboration, and business expansion to increase their torque sensor market share.