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Process Safety System Market in Oil & Gas to Grow by USD 151.9 Million from 2024-2028, Driven by Operational Efficiency Gains and AI-Driven Market Trends – Technavio

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NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global process safety system market in the oil and gas industry  size is estimated to grow by USD 151.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.2%  during the forecast period. Improvement in operational efficiency is driving market growth, with a trend towards development of customized safety systems. However, cybersecurity risks  poses a challenge.Key market players include ABB, Bureau Veritas SA, Emerson Electric Co., General Electric Co., Halma Plc, Hexagon AB, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Intertek Group Plc, Johnson Controls International Plc., OMRON Corp., Pentair Plc, Primatech Inc, Rockwell Automation Inc., RTP Co., Schneider Electric SE, SGS SA, Siemens AG, TUV SUD AG, and Yokogawa Electric Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Onshore and Offshore), Product (Hardware, Software, and Service), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

ABB, Bureau Veritas SA, Emerson Electric Co., General Electric Co., Halma Plc, Hexagon AB, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Intertek Group Plc, Johnson Controls International Plc., OMRON Corp., Pentair Plc, Primatech Inc, Rockwell Automation Inc., RTP Co., Schneider Electric SE, SGS SA, Siemens AG, TUV SUD AG, and Yokogawa Electric Corp.

Key Market Trends Fueling Growth

In the Oil and Gas Industry, the importance of process safety systems is paramount in refining and petrochemical plants. End-users require customized safety systems due to their unique needs, yet the high capital investment for automation systems often hinders adoption. Vendors respond by expanding their product offerings and collaborating with end-users to create tailored solutions. Outdated and imprecise process safety information can lead to cost escalation and operational inefficiencies, making it crucial to have reliable, up-to-date information. Siemens’ Process Safety Information Manager software addresses this need by providing an easy-to-use and maintain system with instant access to critical information. The trend towards customized safety systems will drive market growth in the coming years. 

The Process Safety System market in the Oil and Gas industry is witnessing significant growth due to the increasing focus on ensuring safety and efficiency in plant operations. One trend in this market is the adoption of advanced technologies for temperature control in greenhouses used for building exotic plants in agriculture and horticulture. These greenhouses use various types like span-type and lean-to, and are equipped with glazing, heating, ventilation, and cooling systems to maintain optimal conditions. Climate change, greenhouse gases, carbon dioxide, solar radiation, and volcanic or tectonic activity are key factors influencing greenhouse design and operation. Energy efficiency, microclimate control, and temperature and humidity adjustment are essential for maintaining a productive and cost-effective greenhouse. The market is also driven by the need to mitigate the environmental impact of greenhouse operations and the greenhouse effect on climate history. Proxy evidence from natural archives and paleoclimatology provides valuable insights into climate variability and seasonal cycles, helping to inform best practices for greenhouse design and management. 

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Market Challenges

The process safety system market in the oil and gas industry faces substantial cybersecurity risks during the forecast period. With the increasing digitization and connectivity of process safety systems, they become more susceptible to cyber threats. Hackers and malicious actors may exploit vulnerabilities in digital infrastructure to gain unauthorized access, disrupt operations, or compromise safety controls. The oil and gas industry is a prime target due to its critical role in energy supply and economic stability. A successful cyberattack could lead to catastrophic accidents, environmental damage, and financial losses. Sensitive data related to equipment performance, operational procedures, and safety protocols are at risk of exposure in a data breach. Interconnected supply chains introduce additional risks, as third-party suppliers or contractors could be targeted to gain access. Cybersecurity risks will hinder the growth of the process safety system market in the oil and gas industry during the forecast period.

The Process Safety System Market in the Oil and Gas Industry faces various challenges related to climate change and its impact on greenhouse operations. The unpredictable weather patterns, caused by greenhouse gases like carbon dioxide and solar radiation, pose risks to tropical and warm greenhouses. Volcanic and tectonic activities, orbital variations, and climate variability further add to these challenges. Feedbacks from human activities, such as deforestation and increased carbon emissions, intensify the effects. To mitigate these risks, greenhouse operators must focus on energy efficiency and microclimate control through temperature and humidity adjustment. Disease and pest protection, sealing, and increased production during off-seasons are essential for profitability. Smart greenhouses, utilizing technology optimization, can help manage climate variability and seasonal cycles, providing valuable insights from climate history and natural archives. Ultimately, the integration of proxy evidence and ecosystem studies into greenhouse operations will ensure long-term sustainability and biodiversity preservation.

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Segment Overview 

This process safety system market in the oil and gas industry report extensively covers market segmentation by

Application 1.1 Onshore1.2 OffshoreProduct 2.1 Hardware2.2 Software2.3 ServiceGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Onshore-  In the oil and gas industry, the process safety system market focuses on implementing measures and technologies for onshore applications to prevent and minimize hazards during production, refining, and processing. These systems are essential for safeguarding personnel, the environment, and assets. Onshore facilities involve various processes, from drilling and production to refining and distribution. Adherence to safety regulations and standards, which may differ by location, is crucial. With increasing energy demand, the need for safe and efficient onshore oil and gas operations grows. The process safety system market for onshore applications is vital for ensuring safe and sustainable operations, contributing to the expansion of the onshore segment and the market as a whole during the forecast period.

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Research Analysis

The Process Safety System Market in the Oil and Gas Industry plays a crucial role in ensuring the safe and efficient operation of plants, particularly those involved in the production and processing of hydrocarbons. These systems help monitor and mitigate potential hazards, such as temperature fluctuations, pressure, and the release of greenhouse gases. Temperature control is a key aspect of process safety systems, with both warm and cool greenhouses employing similar technologies for maintaining optimal conditions. Glass, a common component of greenhouses, is essential for allowing sunlight in while regulating temperature through insulation. Heating and ventilation systems help maintain desired temperatures, while glazing materials can be selected based on their insulation properties. Climate change, greenhouse gases, carbon dioxide, solar radiation, and various natural phenomena like volcanic activity and tectonic activity can impact process safety systems in the oil and gas industry. Human activities, such as deforestation, and climate variability, including seasonal cycles and paleoclimatology, also influence these systems. Feedbacks from these factors can lead to complex interactions, necessitating continuous monitoring and adaptation.

Market Research Overview

The Process Safety System Market in the Oil and Gas Industry focuses on ensuring the safe and efficient operation of plants and facilities, particularly those involving temperature control and energy management. This market encompasses various systems such as span-type and lean-to greenhouses, which utilize glazing for light distribution and climate control. These structures are used in a wide range of applications, from agriculture and horticulture to controlled environments for exotic plants. Factors influencing the market include climate change and greenhouse gases, solar radiation, volcanic and tectonic activity, orbital variations, and human activities like deforestation and climate variability. Feedbacks from ecosystems, weather, and environmental impact are also considered. The greenhouse effect, biodiversity, climate history, and natural archives are essential elements of the market’s research and development. Energy efficiency, microclimate control, temperature and humidity adjustment, disease and pest protection, sealing, and increased production are key benefits of process safety systems. Off-season production, crop cycles, and environmental control are also essential considerations. Technology optimization, including smart greenhouses, aims to improve profitability and investment return for businesses in the oil and gas industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationOnshoreOffshoreProductHardwareSoftwareServiceGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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MMA SMARTIES Thailand 2024 – Celebrates Unparalleled Marketing Innovation and Excellence in Thailand

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BANGKOK, Nov. 23, 2024 /PRNewswire/ — The SMARTIES Thailand 2024 Awards brought together pioneers and the brightest minds of the advertising and marketing world, celebrating marketing innovation. Ultimately, 47 exceptional winners were honored, comprising 13 Gold, 15 Silver, 8 Bronze awards and 11 industry awards.

More than just a celebration, the SMARTIES Awards are a global movement that empowers brands, advertisers, agencies, publishers, and technology enablers. With over 50,000 entries globally, SMARTIES has extensive reach, encompassing 19 country awards, 4 regional awards, and one global awards program. This year, Thailand presented numerous impressive entries spanning diverse sectors, underscoring the country’s influence in strategic marketing and creative innovation.

SMARTIES Thailand 2024 honored the best in the industry with a remarkable lineup of winners. Brilliant & Million, Thailand was awarded Digital Agency of the Year, while Grab took home both Publisher of the Year and Brand of the Year. Friends & Mana Company Limited was named Independent Agency of the Year, and Spa-Hakuhodo secured Creative Agency of the Year. M&C Saatchi emerged as the Media Agency of the Year, and Babi Mild was recognized as the Most Resilient Brand of the Year. Publicis Groupe earned the title of Holding Agency Company of the Year, while the Juror’s Choice Award went to the impactful “Under My Skin” campaign. Mondelēz International claimed the honor of Advertiser of the Year, and Best in Show was awarded to the captivating “Oreo Pokemon Catch ‘Em All!” campaign.

Check Out the Winner List Here! 

A rigorous selection process, led by a dedicated jury panel featuring top minds in marketing in Thailand, identified the best campaigns. These campaigns strengthened engagement through advanced technology, and elevated marketing practices.

“SMARTIES continues to set new benchmarks in the industry,” said Rohit Dadwal, CEO of MMA Global APAC & Global Head of SMARTIES™ Worldwide. “This year’s winners have demonstrated unparalleled brilliance, proving that Thailand is a hub for exceptional marketing talent. SMARTIES is not just about winning awards; it’s about pushing boundaries and setting global standards. With the launch of our new SMARTIES Sonic logo this year, we are redefining how the SMARTIES brand resonates and engages with audiences around the world, marking a new era of recognition and innovation”.

Winning a SMARTIES award brings more than recognition. Winners gain a competitive edge, credibility, and an impact on prestigious rankings, such as the MMA SMARTIES Business Impact Index, RECMA, and the WARC Media 100.

About MMA Global: MMA Global is the leading global trade association for marketers, providing essential resources and expertise to empower marketers to navigate the complex world of Marketing. With a commitment to driving innovation and effectiveness, MMA Global plays a pivotal role in shaping the future of marketing.

SMARTIES: SMARTIES is the prestigious marketing awards program hosted by MMA Global, recognizing excellence in Marketing. The SMARTIES Awards celebrate the most innovative and impactful campaigns that push the boundaries of creativity and drive measurable business impact in today’s dynamic landscape.

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SOURCE MMA Global APAC

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Redefining the Standard of Care: Introducing the Aulisa® Monitor Camera for Advanced Patient Monitoring

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PALO ALTO, Calif., Nov. 22, 2024 /PRNewswire/ — Aulisa® Medical USA, Inc., a leader in FDA-cleared, wearable, wireless continuous vital sign monitoring technology, proudly announces the launch of the Aulisa® Monitor Camera, an innovative solution designed to revolutionize patient care in both hospital and home settings. Seamlessly integrating with the Aulisa® Vital Signs Monitoring System, this advanced camera offers caregivers and healthcare professionals enhanced monitoring capabilities and peace of mind.

Redefining the Standard of Care
Hospitals constantly balance delivering exceptional patient care with managing operational costs. The Aulisa® Monitor Camera redefines patient monitoring by providing advanced, centralized solutions that enhance clinical and operational excellence. Designed to optimize patient care, the Aulisa® Monitor Camera integrates with the Centralized Multiple Patient Monitoring (CMPM) System, enabling simultaneous, wireless monitoring of oxygen saturation (SpO2), pulse rate, and body temperature across multiple patients from a centralized nursing station. With a simple app, the Aulisa® Monitor Camera can be integrated into a CMPM. In addition to monitoring a patient’s vital signs, caregivers and family members (such as parents of an infant) can also view the patient’s image and hear their voice. This feature is especially important in specific situations, such as for parents of an infant in the NICU.

This transformative approach eliminates cumbersome wires, streamlines operations, and ensures timely interventions, ultimately improving patient outcomes, enhancing safety standards, and optimizing workflow efficiency while driving significant cost savings and financial performance for healthcare facilities. With a steadfast commitment to compassionate, data-driven care and innovative solutions, Aulisa® Medical is advancing patient health and redefining healthcare excellence, one patient at a time.

Advanced Features for Comprehensive Care
The Aulisa® Monitor Camera offers crystal-clear 2K resolution with night vision, ensuring high-quality visuals day and night. Its two-way audio and human tracking features enable real-time communication and automated movement monitoring, while effortless Wi-Fi integration allows for quick and simple setup via mobile or web devices. With dual functionality as a standalone home surveillance camera, the Aulisa® Monitor Camera delivers unmatched flexibility for various care scenarios.

Engineered for Hospital Excellence
Designed with hospitals and patients in mind, the Aulisa® Monitor Camera addresses the unique demands of modern healthcare settings. From NICUs to patient rooms, it offers caregivers the ability to remotely monitor patients with visual, audio, and motion tracking capabilities. This streamlines workflows, enhances safety, and allows providers to focus on delivering compassionate care while staying equipped with FDA-cleared technology.

Founder’s Vision
“Introducing the Aulisa® Monitor Camera is a natural extension of our mission to enhance patient care and empower healthcare professionals,” said Augustine (Augie) Lien, founder and CEO of Aulisa Medical USA, Inc. “We strive to provide innovative solutions that bring peace of mind to caregivers and families alike. By delivering FDA-cleared technology with seamless functionality, we’re making it easier to ensure safety, connectivity, and exceptional care in every setting.”

Why Choose Aulisa®?
The Aulisa® Monitor Camera enhances efficiency by enabling remote monitoring, reducing physical check-ins, and providing reliable, FDA-cleared technology trusted by healthcare professionals worldwide. It is now available for purchase by healthcare facilities, caregivers, and families.

To learn more about the Aulisa Monitor Camera, the Guardian Angel® CMPM System and other Aulisa Medical products, visit:

www.aulisa.com/products/aulisa-monitor-camerawww.aulisa.com/products/cmpmwww.aulisa.com/collections/guardian-angel-remote-gateway-systems

About Aulisa Medical
Based in Silicon Valley, Aulisa® Medical is a leading medical technology company founded by serial medical technologies entrepreneur, Augustine (Augie) Lien. The company specializes in developing wireless, wearable monitoring systems that provide continuous, cloud-based vital sign data in both clinical and home environments. Through the development of new healthcare innovations, Aulisa® continues to grow the application of digital health technologies that empower both consumers and healthcare providers, incorporating Artificial Intelligence (AI) technologies that can detect adverse events and potentially save lives.

Media Contact:
Kyle Thompson, Vice President of Sales & Marketing
Email: kyle.thompson@aulisa.com
Direct: (650) 387-0001
www.aulisa.com

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SOURCE Aulisa Medical USA, Inc.

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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg

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