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Sensors in Oil and Gas Market to Grow by USD 1.59 Billion from 2025-2029, Driven by Rising LNG Trade and AI-Powered Market Evolution – Technavio

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NEW YORK, Jan. 13, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global sensors in oil and gas market size is estimated to grow by USD 1.59 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  3.6%  during the forecast period. Increase in ING trade is driving market growth, with a trend towards increasing adoption of iot products. However, price volatility in oil and gas industry  poses a challenge. Key market players include ABB, Amphenol Corp., Automation Products Inc., BD SENSORS GmbH., Carlo Gavazzi, Edinburgh Instruments Ltd., Emerson Electric Co., Endress Hauser Group Services AG, Figaro Engineering Inc., Fortive Corp., Gas Sensing Solutions Ltd., General Electric Co., Honeywell International Inc., LORD Corp., Robert Bosch GmbH, Rockwell Automation Inc., RS Technics BV, Siemens AG, and TE Connectivity Ltd..

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Sensors In Oil And Gas Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 3.6%

Market growth 2025-2029

USD 1589.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.4

Regional analysis

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

Performing market contribution

APAC at 38%

Key countries

US, China, Japan, Germany, UK, India, Canada, France, Brazil, and Spain

Key companies profiled

ABB, Amphenol Corp., Automation Products Inc., BD SENSORS GmbH., Carlo Gavazzi, Edinburgh Instruments Ltd., Emerson Electric Co., Endress Hauser Group Services AG, Figaro Engineering Inc., Fortive Corp., Gas Sensing Solutions Ltd., General Electric Co., Honeywell International Inc., LORD Corp., Robert Bosch GmbH, Rockwell Automation Inc., RS Technics BV, Siemens AG, and TE Connectivity Ltd.

 

Market Driver

In the Oil and Gas industry, sensors play a crucial role in refineries, upstream exploration, and downstream processes. Trends include governmental policies driving productivity and environmental performance, seismic images for exploration, and the use of drones for detection. In the midstream, miniaturized wireless sensors monitor gas and oil flow rates, pressure, and temperature. Upfront expenses for sensor technology can be high, but the profitability from increased efficiency, inventory management, and OPEX savings outweigh the costs. Technical advancements in gas sensors, pressure sensors, and temperature sensors continue to improve reaction times and detection limits. Connectivity through IoT platforms enables real-time data interpretation and communication technologies for automotive emissions and compliance requirements. The micro-electromechanical sector and raw materials contribute to the miniaturization and standardization of sensors. The renewable sector and electric car technology also impact the market, with a focus on leak detection, maintenance, and upgrades in refining capacity. 

In the oil and gas sector, Internet of Things (IoT) sensors play a crucial role with their high accuracy, dependability, and adaptability. These sensors are essential for various applications, including remote monitoring, condition assessment, and analysis and simulation. Primarily, they measure pressure, level, flow, and temperature. The upsurge in unconventional drilling has boosted the demand for liquid-level sensors in the upstream industry. According to the US Bureau of Labor Statistics, approximately 40% of all work-related fatalities in the US occur during drilling and exploration activities. Consequently, the need for oil and gas sensors is projected to escalate, ensuring enhanced safety and operational efficiency. 

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Market Challenges

In the Oil and Gas industry, refineries face challenges from governmental policies, upstream exploration costs, and the need for increased productivity. Seismic images and drones help with exploration, but downstream processes require solutions for inventory management, environmental performance, and safety. Productivity gains come from technical advancements like miniaturized wireless sensors, IoT platforms, and connectivity. Upfront expenses for assembling options and installation can be high, but the profitability comes from Opex savings, improved reaction times, and compliance with emissions regulations. Midstream and upstream operations require pressure sensors, temperature sensors, and flow rate measurement for distribution and maintenance. Gas sensors detect hazardous gases and help with automotive emissions and renewable sector applications. Technical developments in sensor technology offer interoperability, data interpretation, and real-time monitoring for drilling operations and leak detection. The micro-electromechanical sector and polymer materials play a crucial role in sensor miniaturization and reliability. Standardization and communication technologies ensure stability in the face of complex drilling techniques like unconventional drilling and directional drilling. Ultimately, sensor technology upgrades contribute to refining capacity, profit, and liability reduction.The oil and gas industry’s price volatility poses a significant challenge to the global sensors market. Sudden oil price drops can disrupt investment plans, leading to delays or cancellations of sensor deployment projects. For instance, when oil prices decrease, oil companies often reduce exploration and production activities, decreasing the demand for sensors used in these operations. Conversely, when prices rise, there’s a rush to increase production, straining the sensor supply chain. This volatility also impacts the financial stability of oil and gas companies, making it difficult for them to commit to long-term investments in advanced sensor technologies.

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Segment Overview 

This sensors in oil and gas market report extensively covers market segmentation by  

Type 1.1 Wired1.2 WirelessGeography 2.1 APAC2.2 North America2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 Wired-  The wired segment is anticipated to lead the global sensors in oil and gas market due to its dependability and precision. These sensors are directly linked to devices, ensuring steady and precise data transfer, which is essential for monitoring and managing various processes. The expanding exploration and production activities fuel the demand for wired sensors, which are indispensable for applications such as remote monitoring and condition analysis, where consistent and accurate data is vital. Furthermore, wired sensors are favored in environments where wireless signals may be unreliable or where a continuous power supply is necessary. The downstream sector, including refining and processing activities, is projected to witness substantial growth in the adoption of wired sensors, driven by the need for precise monitoring and control to ensure safety and efficiency. Key players like Honeywell and Siemens continue to innovate and introduce advanced wired sensor technologies to cater to the evolving requirements of the industry. In summary, the wired segment’s dominance is due to its reliability, accuracy, and applicability to critical applications in the oil and gas industry, making it a significant growth driver for the market during the forecast period.

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Research Analysis

The Sensors in Oil and Gas market is witnessing significant growth due to the integration of advanced technologies such as cloud computing, big data, artificial intelligence, and the Internet of Things (IoT). These technologies enable real-time data acquisition, remote monitoring, production optimization, predictive maintenance, pipeline integrity, and leak detection. Sensors play a crucial role in equipment maintenance, process control, field operations, asset management, data analytics, and well performance. They help in risk management, sustainability reporting, safety and security, and emissions monitoring. Smart sensors, machine learning, and data visualization are also gaining popularity for operational optimization and cost reduction. Digital transformation is driving the adoption of cloud-based IoT platforms and wireless sensor networks for cybersecurity and regulatory compliance. Sensor accuracy, sensor lifespan, and cost-effective solutions are key considerations for the market. The oil and gas industry’s exploration and production, supply chain management, and consumer electronics sectors are also adopting sensors for various applications, including smart city infrastructure. Sensor calibration and sensor adoption are ongoing challenges, but advancements in technology are addressing these issues. Overall, sensors are revolutionizing the oil and gas industry by improving efficiency, safety, and sustainability.

Market Research Overview

The Sensors in Oil and Gas market is witnessing significant growth due to the increasing demand for productivity enhancement and environmental performance in the industry. Seismic images, temperature, pressure, flow rates, and gas detection are some of the critical parameters monitored using sensors in upstream exploration and production. In the midstream and downstream sectors, inventory management, air monitoring, and liability management are key areas where sensors play a crucial role. Technical advancements in sensor technology, miniaturization, and wireless connectivity are driving the market’s growth. The oil price volatility and governmental policies are major factors influencing the market’s profitability. The market is witnessing the emergence of IoT platforms and smart sensors for real-time data interpretation and reaction times. The market includes various types of sensors like pressure sensors, temperature sensors, ultrasonic sensors, infrared sensors, and gas sensors. The market’s complexity and upfront expenses are some of the challenges, but the potential for OPEX savings and compliance requirements make it an attractive investment for businesses in the oil and gas sector. The market also caters to the renewable sector and electric car technology, with applications in unconventional drilling techniques, AUVs, and drilling operations. The market’s future looks promising with ongoing research and development and the integration of advanced communication technologies.

Table of Contents:

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

TypeWiredWirelessGeographyAPACNorth AmericaEuropeMiddle 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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Lightspeed Transforms The Retail Experience With New Mobile Selling Application

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Selling on Lightspeed Scanner gives sales associates the power to close sales on the move; improving the customer experience and eliminating the friction of in-store line up’s

MONTREAL, Jan. 14, 2025 /PRNewswire/ – Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) (“Lightspeed”), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, introduces a new game-changing feature for retailers designed to eliminate the frustration of long lines and interrupted shopping experiences by enabling sales associates to complete purchases where the customer is. Selling on Lightspeed Scanner – available on iPhone, is the latest Lightspeed innovation helping retailers create a more customized, frictionless experience for their customers.

With 39% of shoppers citing great customer service as the top reason they’re willing to spend more–according to Lightspeed’s State of Retail 2024 Reportthis enhancement addresses two common pain points in retail: long wait times and inefficient service.

“This launch marks a pivotal moment for retailers,” said Dax Dasilva, CEO of Lightspeed. “By closing the sale directly with the customer—no lines, no disruptions—retailers are meeting shoppers’ needs for speed and personalization, all while creating moments of delight that turn transactions into lasting relationships.”

Research shows that 42% of shoppers would be open to VIP shopping experiences such as skipping lines and personalized shopping recommendations. By empowering sales associates to serve customers end-to-end, Lightspeed helps retailers overcome challenges, ensuring that the shopping experience is fast, flexible, personalized and frictionless.

The new Lightspeed Scanner feature transforms traditional in-store shopping by allowing retailers to:

Queue busting: Streamline the shopping experience by letting customers check out where they are, avoiding the frustration of queuing at registers.Maximize associate impact: Equip sales teams with the tools to offer personalized consultations, check inventory, and process transactions without leaving the customer’s side.Sell seamlessly in any environment: Extend seamless service to diverse selling environments like pop-ups, events, or large retail spaces, offering flexibility and convenience.

“The new selling function on Lightspeed Scanner for X-Series with Tap to Pay has given our team peace of mind,” says Cody Coleman, Owner of Do It Yourself Pest and Weed.

It provides a backup that is ready when the unexpected occurs, without the added cost of additional hardware. Plus, we now have the flexibility to quickly add an additional register when it gets busy in the store.”

Lightspeed has consistently demonstrated its commitment to transforming the retail experience through innovation. With each new product launch, Lightspeed empowers retailers with tools designed for modern challenges. Recent advancements, like Retail Insights, improved inventory management through real-time tracking, and the enhanced Homebase integration offering a seamless solution for employee and time management, showcase Lightspeed’s drive to push boundaries.

Lightspeed is not just adapting to the future of retail but contributing to its design, ensuring customers can stay ahead in a dynamic market.

Retailers eager to enhance their operations and reimagine their in-store experience can visit this page for more information.

About Lightspeed

Powering the businesses that are the backbone of the global economy, Lightspeed’s one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional omnichannel customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across North America, Europe, and Asia Pacific, the company serves retail, hospitality, and golf businesses in over 100 countries.

Follow us on social media: LinkedIn, Facebook, Instagram, YouTube, and X.

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”), including information regarding Lightspeed’s partnerships, product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed’s management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations, under “Risk Factors” in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed’s subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Lightspeed Commerce Inc.

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DSFederal Awarded OASIS+ GWAC IDIQ Contract

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The Women-Owned Small Business will offer its full range of services in the Management and Advisory, and Technology and Engineering domains

ROCKVILLE, Md., Jan. 14, 2025 /PRNewswire/ — DSFederal, a leading provider of data science and digital solutions, is pleased to announce its award of the One Acquisition Solution for Integrated Services (“OASIS+”) Governmentwide Acquisition Indefinite Delivery/Indefinite Quantity (“GWAC ID/IQ”) contract. Under this contract, DSFederal will be eligible to provide its services within the Management & Advisory, and Technology & Engineering domains.

“This award reflects DSFederal’s reputation for providing trusted, effective, and innovative solutions that help meet and solve the growing demands and challenges of Federal clients through vehicles like OASIS+” said Sophia Parker, Owner & CEO of DSFederal. 

Expanded Opportunities to Make a Positive Impact

Recipients of the OASIS+ GWAC contract are eligible to provide a wide range of services to Federal agencies within their respective domains. DSFederal’s inclusion in the contract’s Unrestricted, Small Business, and Women-Owned Small Business (WOSB) pools will enable the company to offer critical services in multiple areas.

Management and Advisory: DSFederal will provide consulting and advisory services to Federal agency operations, leveraging business intelligence, interactive dashboards, and data-driven decision making to enhance overall performance and efficiency.Technology and Engineering: DSFederal will deliver advanced technology solutions and support, including IT support services (ITSS) and Drupal web development, driving innovation and enabling the modernization of Federal systems and infrastructures.

This award reflects DSFederal’s commitment to providing effective, data-driven solutions that meet the unique needs of the Federal government. With its technical expertise combined with a successful history of delivering federal project solutions, DSFederal is well-positioned to support a wide range of federal initiatives across both established and emerging areas.

For more information about DSFederal, please visit: https://www.dsfederal.com/.

About DSFederal

DSFederal provides transformative technical solutions and strategic support for the Federal Government and for HHS. Our highly specialized data science team, deep public health expertise combined with a broad technology skillset and partnerships with innovative organizations in the private sector help us to connect the dots between data and people, delivering impactful insights with real-life applications.

Our firm is ISO 9001, 20001, 27001 certified and CMMI Level 3 for service and development, proving our commitment to consistently high-quality standards and ensuring customer satisfaction. Our highly experienced professionals partner with 50+ federal clients across more than 80 projects. Our people are united by one mission – to improve human life through transformative solutions.

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SOURCE DSFederal

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HOPE Therapeutics™, Inc. and NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Alert Investors to Sanjay Gupta/CNN Program on Ketamine, Featuring Kadima Neuropsychiatry Institute Founder Dr. David Feifel

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‘Special K’: The Science & Stigma of Ketamine” on CNN, hosted by Dr. Sanjay GuptaDavid Feifel MD PHD, Founder of Kadima, is a global thought leader in the interventional psychiatry fieldKadima Neuropsychiatry Institute identified as planned HOPE Flagship Clinic pending acquisition closingDr. Feifel is expected to join HOPE as Chief Medical Innovation Officer

MIAMI, Jan. 14, 2025 /PRNewswire/ — HOPE Therapeutics™, Inc., (“HOPE”), a medical and technology driven company, and a wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (“NRx”, and collectively with HOPE, the “Company”) (Nasdaq:NRXP), today alerted investors that Kadima Neuropsychiatry Institute’s Founder David Feifel, MD PHD was featured as an expert in a program on ketamine entitled “‘Special K’: The Science & Stigma of Ketamine” on CNN, hosted by Dr. Sanjay Gupta. HOPE previously announced that Kadima is identified as the Company’s planned flagship clinic acquisition, upon closing of the transaction.

Dr. Feifel, a global leader in interventional psychiatry, has accepted a future role as Chief Medical Innovation Officer in conjunction with the previously announced planned acquisition of Kadima by HOPE. The acquisition is subject to completion of financial audits and standard closing conditions.

In his comments, Dr. Feifel supported use the of ketamine in appropriate patients but emphasized the need for appropriate psychiatric supervision in a controlled setting – a view that HOPE wholeheartedly shares. This appearance with Dr. Gupta follows his appearance on another of Dr. Gupta’s programs, “The Wild West of Ketamine Treatment” in August of last year.

“The recent, tragic death of Mathew Perry underscores the need for people with depression to have access to psychiatric centers of excellence where they can receive ketamine and other advanced treatments at the highest standard of medical care,” said David Feifel. “I plan to bring this same vision for use of ketamine and other interventional psychiatry treatment methods that made my clinic, Kadima, an industry gold-standard, to the HOPE network, upon joining the Company.”

About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a development stage healthcare delivery company that intends to develop a best-in-class network of interventional  psychiatry clinics to offer ketamine transcranial magnetic stimulation (TMS) and other lifesaving therapies to patients with suicidal depression and related disorders, together with a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.

About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.

NRx has recently announced initiation of filing a New Drug Application for NRX-100 (IV ketamine) for the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality.

Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding closing the acquisition of Kadima and obtaining financing necessary to consummate the acquisition. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’s operations, results of operations, growth strategy, liquidity, Hope Therapeutic’s ability to consummate the acquisitions of providers for its national network, the Company’s ability to raise adequate capital to fund the Hope Therapeutics acquisitions, and the Company’s ability to spin-off Hope Therapeutics. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information:
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE Therapeutics, Inc.
mduffy@nrxpharma.com

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SOURCE NRx Pharmaceuticals, Inc.

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