DAS Market Spending on Visualization Software to Grow at Fastest Rate throu 2025
Posted by Tom C on July 13th, 2021
The global distributed acoustic sensing market (DAS) is estimated to grow from USD 462 million in 2020 to USD 792 million by 2025; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.4% during 2020–2025.
Distributed Acoustic Sensing Market for software component to grow at highest CAGR during forecast period
The visualization software is often specific to the DAS application. The software often shows the path of the optic fiber cable routing against a site map and will highlight the location where an event is taking place (for instance, a leak in an oil pipeline). For perimeter security, the DAS software is often interfaced with existing third-party SCADA control or security software, which highlights an event. For wellbore applications, DAS visualization software can be used for the real-time monitoring of injection fluid, assessing fluid entry points, and fluid distribution along the well. Visualization software contributes to about 5% of the overall cost of the DAS system in most cases. However, as visualization software for DAS systems are continuously being updated and optimized, the market for visualization software is expected to grow at the fastest rate during the forecast period.
Request Free Sample Pages:
Distributed Acoustic Sensing Market for Single-mode fiber to hold larger share of market throughout forecast period
Single-mode fibers are intended for long haul communications and therefore, are preferred for most DAS applications. Telecommunications-grade single-mode fiber optic cables can support distances of 50 km without any perceived noise in the signal. Hence, most DAS applications such as pipeline monitoring or border/perimeter surveillance generally utilize single-mode fibers since they provide a higher range of about 50 km. This makes the systems much more cost efficient as the interrogator units have to be deployed at every 50 km. Since single-mode fibers are sufficient for the majority applications, they are expected to hold a larger share of the market throughout the forecast period compared to multimode fibers.
Oil & gas industry to dominate Distributed Acoustic Sensing market throughout forecast period
In the oil & gas industry, well monitoring using DAS systems provide significant benefits in optimizing and maximizing the production of both offshore and inland oilfields. The industry is one of the primary users of DAS systems, with several oil & gas companies such as Schlumberger (US) and Halliburton (US) having a significant investment in the technology. New pipeline projects are also being deployed worldwide on a large scale and DAS technology has proven ideal and cost effective for long-distance monitoring. The increasing number of oil wells and pipeline deployment has led to oil & gas being the largest market for DAS systems. Furthermore, the deployment of DAS systems for pipeline monitoring is also expected to contribute to the overall growth of the market. The oil & gas industry, which accounts for the majority share of the market for DAS systems is also expected to be adversely affected compared to other key industries in the DAS market due to the COVID-19 pandemic. It is being observed that the sector is seeing an imbalance of oversupply and low demand resulting in a drop in crude oil prices, resulting in the production of oil and gas also being significantly reduced. This has led to reduced capital investments and as such, new pipeline projects and the construction of new oilfields is being put on hold. This is expected to put a hold on the deployment of DAS systems in the oil & gas sector.
Distributed Acoustic Sensing Market in APAC expected to grow at highest CAGR during forecast period
APAC is one of the fastest-growing markets for DAS solutions, with China dominating the DAS market in the region with its increasing oil production operations and the development of military and infrastructure. With huge investments in developing infrastructure in the fast-growing developing nations such as China and India in the region, the market presents a huge potential for the implementation of DAS systems. The development of military strength in the region has also increased the potential for the deployment of DAS technology. The diffusion of knowledge about the benefits of DAS technology such as lower operating costs and less maintenance in the region is critical for the growth of the technology in the region. Hence, the market is APAC is forecasted to witness the highest growth due to the construction and expansion of oil & gas pipelines and increased foreign investments in the development of oilfields.
Key Market Players
Major companies in the distributed acoustic sensing 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.
Like it? Share it!
About the AuthorTom C
Joined: July 2nd, 2020
Articles Posted: 347
More by this author