(EnergyIndustry.Net, November 27, 2019 ) According to the new market research report "Oil & Gas Sensors Market by Type (Pressure, Level, Flow,Temperature), Connectivity (Wired, Wireless), Application (Remote Monitoring, Condition Monitoring, Analysis), Sector (Upstream, Midstream, Downstream), and Region -Global Forecast to 2023" The Oil & Gas Sensors market is expected to grow from USD 7.4 billion in 2018 to USD 9.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period. The major factors driving the oil & gas sensors market include growing IoT in the oil & gas industry. IoT in the oil and gas industry helps in improving operational efficiency, revenue, real-time data, and decreasing safety risk, and environmental footprint
Browse 69 market data Tables and 42 Figures spread through 113 Pages and in-depth TOC on "Oil & Gas Sensors Market - Global Forecast to 2023"
The pressure sensors segment is expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period
The oil & gas sensors market has been segmented on the basis of sensors type into pressure sensors, flow sensors, level sensors, temperature sensors, and others. Among these types, pressure sensors is the fastest growing segment in the oil & gas sensors market as they provide accurate and reliable data to detect small changes in the pressure usually in the upstream and midstream processes.
Wireless sensors are expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period
Wireless sensors in the oil & gas industry are installed in all upstream, midstream, and downstream processes. Wireless sensors have a growing demand as they eliminate cables, resulting in reduced installation and operating costs. Moreover, wireless sensors have a wide variety of applications in the oil & gas industry varying with different requirements and characteristics.
North America is expected to hold the largest market size in the oil & gas sensors market in the forecast period
North America is estimated to account for the largest share of the market in 2018. The region is considered the most advanced region in terms of technology adoption and infrastructure. The sensor market in the oil & gas industry would be mainly driven by the growth in unconventional resources in the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to positively impact the sensor market during the forecast period. All these factors are expected to drive the oil & gas sensor market in North America.
Major vendors in the oil & gas sensors market include Emerson (US), ABB (Switzerland), GE (US), Indutrade (Sweden), BD Sensors (Germany), Lord (US), MTS Sensors (US), Bosch (Germany), Rockwell (US), TE Connectivity (Switzerland), Fortive (US), and Siemens (Germany)
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email: email@example.com