Fiber Optic Instrumentation Market

Optical fiber technology has been steadily increasing in importance owing to its various advantages, such as its small form factor, low power consumption, and immunity to environmental factors. The fiber optic instrumentation market is witnessing growth owing to the increasing demand for high-quality instruments and the various initiatives taken by the key players to tap into this lucrative market. The market is segmented on the basis of type, end-user, and region.

The fiber optic instrumentation market is split into two types: sensor optical and detection optical. The sensor optical segment is expected to grow at a higher rate owing to the increasing need for low-cost sensors in various end products such as automobiles, aerospace, food & beverage, security equipment, etc. The optical detection segment is projected to dominate the market due to the increasing demand for advanced sensors for oil and gas exploration, defense applications, and others.

The global fiber optic instrumentation market is estimated to grow from USD XX billion in 2018 to USD XX billion by 2031, at a CAGR of **% during the forecast period. The major drivers for the growth of this market are increasing demand for smart city solutions, increasing adoption of optical communication networks, and increasing emphasis on safety and reliability features in industrial applications.

Some of the key players in the fiber optic instrumentation market include Fujikura Co. Ltd., Anritsu Corp., Corning Inc., Fortive Corp., TE Connectivity Ltd., Viavi Solutions Inc., and Yokogawa Electric Corp.