NORWALK, CT - Total worldwide revenues for fiberoptic sensors are projected to increase from a current estimate of $288.1 million to $304.3 million in 2006, according to a soon-to-be-released report from Business Communications. Revenues are expected to increase at a modest average annual growth rate (AAGR) of 4.1% to $371.8 million by 2011.
The moderate growth rate reflects the challenging status of fiberoptic sensors over the next five years. The promise of the technology is still great, but the initial rush to fund research is over, with significant challenges remaining. To move beyond the status of niche application, fiberoptic sensors must drop in price significantly. The market is divided into the two broadest categories of sensors, extrinsic and intrinsic.
Extrinsic sensors are used in telecommunications to monitor the status and performance of the optical fibers within a network. In 2005, extrinsic sensor revenues are estimated at $214.8 million. This market segment is forecast to increase at an average annual rate of 4.1% until 2011, when extrinsic sensor revenues will be $274.4 million.
The intrinsic sensor market is forecast to grow at an AAGR of 4.0% to $97.4 million by 2011. Growth in intrinsic sensors is forecast to be rather tepid in some application markets due to ongoing challenges with the technology. The largest application segment for intrinsic sensors is military applications. Military applications tend to be specialized and are often one-of-a-kind projects that seldom lead to mainstream market success.