Distributed Acoustic Sensing Market Size Is Expected To Reach US$ 1.34 Billion by 2030

in automotive •  4 years ago 

The Global Distributed Acoustic Sensing Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global distributed acoustic sensing market was valued at US$ 470 million in 2019 and expected to reach US$ 1.34 billion by 2030 at a CAGR of 10%. Distributed acoustic sensing is an advanced sensing technology that is used to sense and monitor vibration across industrial networks. It converts standard communication fiber into a linear array of discrete vibration sensors and is used for detection of leaks, hot-tapping pipelines, perimeter intrusions, moving vehicles, failing mechanical components, and so on. The distributed acoustic sensing offers accurate detection of leakage by precisely detecting, monitoring, classifying, and reporting leakage vibration. This has contributed towards the growth of distributed acoustic sensing market during past couple of years and is expected to drive the market in coming years. However, the distributed acoustic sensing market is significantly impacted due to reduced capital investment in oil & gas industry amidst the COVID-19 pandemic. The demand for distributed acoustic sensing systems is anticipated to remain moderate during coming years.

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