America to Hold the Largest Share of Distributed Acoustic Sensing Market by 2025

Posted March 11, 2022 by ctom7000

Distributed Acoustic Sensing Market for Oil & Gas Industry to grow at highest CAGR during forecast period
According to the new market research report "Distributed Acoustic Sensing (DAS) Market by Component (Interrogator Units, Visualization Software), Fiber Type (Single-mode Fiber and Multimode fiber), Industry (Oil & Gas, Infrastructure, Transportation), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Distributed Acoustic Sensing (DAS) Market size is estimated to grow from USD 462 million in 2020 to USD 792 million by 2025; it is expected to grow at a CAGR of 11.4% from 2020–2025.

DAS systems are increasingly being adopted by various industries due to their advantages such as immunity toward electromagnetic interference, high range, and lower maintenance compared to electrical-based sensors. Owing to COVID-19, the DAS market is estimated to decline by ~10% for 2019–2020. Given the critical nature of monitoring operations in the oil & gas industry and the increased digitization of production, completion, and evaluation operations, DAS systems continue to hold significant importance in this field due to increased digitization taking place in this industry. This has also led to the deployment of DAS systems in other industries such as military, infrastructure, and transportation, which is helping in the growth of the overall market.

Ask for PDF Brochure:

Market for multimode fibers to grow at higher CAGR during forecast period

Multimode fiber optic cables have larger cores (45–50 microns) compared with single-mode fibers. The large diameter allows many paths for the rays of light to travel through the fiber. The large diameter of multimode fibers also allows for more optical power to be launched in the fiber allowing for greater light gathering capacity and facilitates the use of cheaper electro-optic devices or interrogators. Although multimode fibers have a lower range of detection compared to single-mode fibers, they can eliminate signal fading within that distance. Hence, the market for multimode fibers is expected to grow at a higher CAGR during the forecast period.

Market for oil & gas industry to grow at highest CAGR during forecast period

New pipeline projects are also being deployed worldwide on a large scale and DAS technology has proven to be ideal and cost effective for long-distance monitoring. Due to the increasing deployment of DAS systems for pipeline monitoring, the industry is also expected to have the highest growth during the forecast period. DAS systems can monitor the entire length of an oil & gas pipeline using telecommunications grade fiber optic cables. The market for pipeline integrity holds a larger share due to the larger distance covered using DAS systems compared to that for oilfield services. The fiber optic cable deployed for pipelines can stretch to thousands of kilometers compared to their deployment in oilfields, which is only a few hundred kilometers. Also due to the resilience of DAS systems in harsh operating environments, they are quickly replacing traditional monitoring solutions such as electrical and quartz-based sensors.

Inquiry before Buying:

Americas to hold largest share of DAS market during 2020–2025

The DAS market is dominated by the Americas, with North America contributing to the majority share of the market compared to South America. In North America, the US is a key market for DAS systems, accounting for the largest share in the region during the forecast period. According to the US Energy Information Administration (EIA), the US ranked first in oil & gas production. Canada is the second-largest market for DAS systems in North America and according to the EIA, Canada ranked fifth in terms of oil & gas production in 2019. South America has some of the world's largest oil & gas reserves located in Argentina and Venezuela. In South America, state-owned companies oversee the majority of oil & gas production in their respective countries. Hence, the Americas is expected to hold the largest market for DAS systems. At present, due to the North American region being most affected owing to the COVID-19 pandemic resulting in the subsequent decrease of hydraulic fracturing and offshore drilling activities, the DAS market in the Americas is expected to be among the most affected markets.

Major companies in the distributed acoustic sensing (DAS) market are Schlumberger (US), Halliburton (US), Baker Hughes (US), OptaSense (UK), Future Fibre Technologies (Australia), Fotech Solutions (UK), Bandweaver (China), Hifi Engineering (Canada), Omnisens (Switzerland), and Silixa (UK). Apart from these, ofs (US) and Fibre Completion Services (Canada) are among a few emerging companies in the DAS market.
-- END ---
Contact Email [email protected]
Issued By Tom
Country United Kingdom
Categories Advertising
Tags distributed acoustic sensing market
Last Updated March 11, 2022