Most physical properties can be sensed optically with fibers. Light intensity, displacement (position), temperature, pressure, rotation, sound, strain, magnetic field, electric field, radiation, flow, liquid level, chemical analysis, and vibration are just some of the phenomena that can be sensed. Fiber optic sensors have been used successfully for many years in military gyroscopes and hydrophones. However, their use in smart oil wells has been the key to enabling North America to be on a path to energy independence.
This report provides an overview of the global market for microelectromechanical systems (MEMS), which consist of sensing devices that integrate mechanical elements, sensors, actuators, and electronics on a common silicon substrate, and typically have dimensions in the 1-micron to 100-micron range; as well as biosensors and nanosensors. The global market for microsensors reached nearly $9.9 billion in 2014 and totaled almost $10.9 billion in 2015. The market should reach more than $18.9 billion in 2020, a compound annual growth rate (CAGR) of 11.7% between 2015 and 2020.
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