Technavio Expects the Global Distributed Acoustic Sensing Market to Reach a Value of Over USD 418 Million by 2020
distributed acoustic sensing (DAS) market was valued at
USD 259 million in 2015, and is expected to grow at a CAGR of more than
10% between 2016 and 2020.
Technavio covers the
market outlook and growth prospects of the distributed
acoustic sensing market for 2016-2020. Based on end-user
platforms, the market is divided into the following segments: oil and
gas, defense, infrastructure, and transportation.
The market research report also segments the global distributed acoustic
sensing market into the follow three regions:
Americas: Largest distributed acoustic sensing market
The Americas, being the largest market for distributed acoustic sensing
in 2015, held a market share of around 45%. The majority of the revenue
from this region is attributed to the high drilling and exploration
activities and its huge manufacturing base. This region will continue to
dominate the market through 2020.
The adoption of distributed acoustic sensors in the oil and gas industry
in the Americas is phenomenal, reports the research study. The
availability of large reserves along with advances in technology in
offshore oil and gas extraction has resulted in increased exploration
and drilling. North America is the world's second-largest consumer of
crude oil, and the demand for it is constantly increasing. The report
therefore predicts the market in the Americas to continue to grow over
the next four years.
The US market is expected to grow moderately however, but analysts
expect it to maintain its market share until 2020. The report study
further mentions that many well-established vendors in this market are
concentrated in this region, thus encouraging the adoption of
distributed acoustic sensors in various applications.
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The major vendors of the global distributed acoustic sensing market are:
Halliburton and Schlumberger are headquartered in the US, Omnisens is
headquartered in Switserland, Silixa is headquartered in the UK, and
Ziebel is headquartered in Norway.
AP Sensing, fibrisTerre, Fotech Solutions, OptaSense, Optellios, OZ
Optics, POLUS-ST, and Pruett Tech are the other prominent vendors in the
distributed acoustic sensing market.
EMEA: Second largest market for distributed acoustic sensing
The APAC is the fastest growing region for distributed acoustic sensing
market, growing at a CAGR of nearly 16% during the period 2015-2020.
Japan, India, China, Korea, Taiwan, Singapore, and Australia are the
major revenue contributors to the market in APAC.
An increase in the number of infrastructure development projects in
developing countries, such as India, Malaysia, and China, will support
the demand for distributed acoustic sensors in this region. As of 2015,
the penetration of distributed acoustic sensors in the oil and gas,
defense, and transportation sectors in APAC was low due to the lack of
awareness. However, growing awareness and realization of the potential
of this technology by companies and government agencies has boosted its
adoption in the region.
Seismic downhole measurements: Trending factor impacting the
distributed acoustic sensing market globally
Seismic surveys usually deploy three-component geophones (which converts
ground movement into a voltage, any deviation of the voltage from its
baseline is known as a seismic response). However, geophones can measure
the seismic information at only a single position requiring many sensors
to be deployed in a single set-up, which is expensive as well as
time-consuming. Also, many of the conventional seismic sensors do not
function efficiently at extreme environmental conditions. Distributed
acoustic sensing can help overcome many of these limitations.
Technavio’s analysts predict that DAS technology will find significant
adoption during the forecast period for measuring seismic activities.
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Technavio is a leading global technology research and advisory company.
The company develops over 2000 pieces of research every year, covering
more than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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