fiber bragg grating Market

The fiber bragg grating market was valued at US$ 1,500.6 million in 2021 and is expected to grow at a CAGR of 25.7% during the forecast period of 2021 to 2028 to reach US$ 7,435.3 million by 2028.

A fiber bragg grating is a few millimeters long, very reliable, and highly sensitive product used for measuring, sensing, and monitoring application among diversified industries. Fiber bragg grating gives advantages to devices such as immunity to electromagnetic & radio frequency interference, low loss relative to fiber length, and small size & weight; and it is safe for operation in an environment consisting of hazardous materials.

The rise in application areas of fiber bragg grating for temperature and strain measurements and the development of automated fiber bragg grating production systems are boosting the market growth. Also, the emergence of ultra-long fiber bragg grating is further accelerating market growth. Due to their direct absolute measurement and unique wavelength multiplexing capability properties, their adoption in aerospace, telecom, security & monitoring sectors is expanding. All the factors mentioned above are positively impacting the fiber bragg grating market growth.

Impact of COVID-19 Pandemic on Fiber Bragg Grating

The COVID-19 pandemic has shaken several industries. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor and electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The FBG market players also experienced a decrease in volumes because the manufacturing facilities had a limited workforce. This has had a negative impact on the market. The COVID-19 outbreak might impact the market in the first six months of 2021 as well.

The overall fiber bragg grating market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the fiber bragg grating market. The process also serves the purpose of obtaining overview and forecast for the fiber bragg grating market with respect to all the segments. It also provides the overview and forecast for the global fiber bragg grating market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the fiber bragg grating market. Major players operating in the global fiber bragg grating market include AOS GmbH; Alnair Labs Corporation; FBGS Technologies GmbH; HBM Fibersensing S.A.; ITF Technologies; Ixblue Photonics; Micron Optics; Proximion AB; Technica; and TeraXion.