Connect with us

Technology

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

Published

on

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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

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. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

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.

Discover how AI is revolutionizing market trends- Get your access now!

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.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/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-302347906.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Global AI Leader and Enterprise Transformation Visionary Zeya Ottomone Appointed Chief Executive Officer of Integrow

Published

on

By

Author of Empowered to Execute in the Agentic Era to Lead Next Generation of AI-Powered Enterprise Innovation

ATLANTA, July 24, 2026 /PRNewswire-PRWeb/ — Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

With more than three decades of executive leadership spanning Fortune 500 enterprises, global technology organizations, and enterprise software innovation, Ottomone joins Integrow at a defining moment in the evolution of artificial intelligence.

Widely recognized for helping organizations modernize operations, simplify complex business ecosystems, and deliver measurable transformation outcomes, Ottomone has led some of the industry’s largest enterprise modernization initiatives across ERP, CRM, workforce management, cloud computing, cybersecurity, artificial intelligence, and intelligent automation. His appointment signals Integrow’s commitment to redefining how enterprises execute strategy in the era of autonomous AI.

“Artificial Intelligence is no longer about automation alone, it’s about empowering organizations to execute faster, make smarter decisions, and fundamentally rethink how work gets done,” said Zeya Ottomone, Chief Executive Officer of Integrow. “We’re entering the Agentic Era, where intelligent AI agents become trusted digital teammates capable of planning, reasoning, collaborating and executing alongside people. At Integrow, we’re building the enterprise platform that makes that future practical, secure and measurable for every organization.”

Ottomone is internationally recognized as a leader in enterprise technology, SaaS transformation, digital modernization and AI-enabled business strategy. Throughout his career he has held executive leadership and C-level positions with ABB, Honeywell, AmerisourceBergen, Cable & Wireless, Chicago Tribune and Rimini Street, leading global organizations through large-scale transformation initiatives across North America, Europe, Asia-Pacific and the Middle East. His expertise spans enterprise applications, Salesforce ecosystems, ServiceNow, ERP modernization, customer experience, intelligent operations, data strategy, and the emerging field of Agentic AI.

Before joining Integrow, Ottomone led global SaaS Centers of Excellence focused on enterprise transformation, helping organizations modernize critical business operations while reducing technology complexity and accelerating innovation. A certified Lean Six Sigma Master Black Belt and recognized executive advisor, Ottomone has consistently delivered operational excellence by combining strategic leadership with emerging technologies to create sustainable business value.

His appointment also coincides with the upcoming publication of his new book, Empowered to Execute in the Agentic Era, which explores how organizations can bridge the gap between strategy and execution by leveraging AI, empowering people, and building intelligent enterprises capable of continuous innovation. The book reflects many of the same principles that will guide Integrow’s next phase of growth: human-centered AI, intelligent automation, operational excellence, and measurable business outcomes.

Under Ottomone’s leadership, Integrow will accelerate investment across:

Agentic AIEnterprise AI PlatformsIntelligent ERPAI-powered CRMHuman Capital ManagementIT Service ManagementPredictive AnalyticsAutonomous WorkflowsEnterprise CopilotsIndustry-specific AI Solutions

The company’s vision is to deliver a unified enterprise platform where AI is embedded into every business process, enabling organizations to eliminate operational silos, automate decision-making, increase productivity, and create competitive advantage through intelligent execution. “Zeya represents exactly the type of visionary leader required for the next generation of enterprise software,” said Harvey Nicholson, Chair of Corporate Governance and Member of Integrow’s Board of Directors. “His global experience, deep understanding of enterprise technology, and forward-looking vision for Agentic AI position Integrow to become one of the industry’s most innovative AI-powered enterprise software companies.”

Wayne Gadson, Chair of Growth Strategy, added: “The future belongs to organizations that can execute strategy with intelligence, speed and confidence. Zeya has spent his career helping enterprises achieve exactly that. His appointment marks the beginning of an exciting new chapter for Integrow, our customers and our partners worldwide.” As enterprises face mounting pressure to modernize operations, reduce costs, improve workforce productivity and harness the power of artificial intelligence, Integrow is uniquely positioned to help organizations transform through a single AI-powered enterprise platform that unifies finance, operations, customer engagement, workforce management, projects and service delivery.

“Our mission is simple,” Ottomone concluded. “We don’t believe AI should replace people. We believe AI should elevate people. The organizations that will define the next decade won’t simply adopt AI—they’ll empower every employee to execute better decisions every day. That’s the future Integrow is building.”

About Integrow

Integrow is a global enterprise software company delivering next-generation AI-powered business applications built on Salesforce. The platform unifies ERP, CRM, Human Capital Management, IT Service Management, Project Management, Field Service, Finance and Operations into a single intelligent ecosystem enhanced by Agentic AI.

By embedding artificial intelligence into every workflow, Integrow enables organizations to modernize operations, accelerate innovation, improve decision-making and execute strategy with confidence.

For more information, visit www.integrow.com.

Media Contact

Media Team, Integrow, Inc., 1 855-333-4769, info@integrow.com, www.integrow.com 

View original content to download multimedia:https://www.prweb.com/releases/global-ai-leader-and-enterprise-transformation-visionary-zeya-ottomone-appointed-chief-executive-officer-of-integrow-302833033.html

SOURCE Integrow, Inc.

Continue Reading

Technology

Lufax Announces Board and Management Changes

Published

on

By

SHANGHAI, July 24, 2026 /PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced changes to its board of directors and senior management, effective July 25, 2026.

Ms. Fangfang Cai (“Ms. Cai”), Mr. Shibang Guo (“Mr. Guo”) and Mr. Peifeng Li (“Mr. Li”) have resigned as non-executive directors of the Company and from their respective positions on the Board’s committees. Mr. Tongzhuan Xi (“Mr. Xi”) has resigned as an executive director, the chief financial officer and the authorised representative of the Company (“Authorised Representative”) under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Hong Kong Listing Rules”), with effect from July 25, 2026. Each of the four directors cited personal work arrangements as the reason for their resignation and confirmed there is no disagreement with the Board and no matter relating to their departure that needs to be brought to shareholders’ attention.

The Company has begun a search for a new chief financial officer. During the transition, the CFO’s duties will be temporarily assumed by the Company’s internal team to ensure continuity of the Company’s financial functions. Mr. Xiang Ji, an executive director and the Company’s chief executive officer, has been appointed as the Authorised Representative, the Company’s designated liaison with the Stock Exchange under the Hong Kong Listing Rules, in place of Mr. Xi, with effect from July 25, 2026.

The Board has appointed Mr. Wai Kin Chim (“Mr. Chim”) as an independent non-executive director for an initial three-year term commencing July 25, 2026.

Mr. Chim, aged 65, has over 40 years of experience in international banking and extensive board experience in Asia Pacific, having worked in Hong Kong, Singapore and Beijing. He specializes in risk management and internal control, with a strong emphasis on corporate governance, credit risk, market risk and capital management.

Mr. Chim served as a loan officer at Standard Chartered Bank, Hong Kong Branch, from October 1985 to August 1988. He was then employed by Bankers Trust Company, Hong Kong Branch, as a vice president of the Asia Credit Department from September 1988 to October 1996. He subsequently served as the managing director and the chief credit officer for Deutsche Bank AG, a company listed on the Frankfurt Stock Exchange under ticker symbol DBK, for Asia Pacific (non-Japan Asia), from October 1996 to November 2006. He joined Bank of China Limited, a company listed on the Main Board of the Stock Exchange under stock code 3988, as the chief credit officer from March 2007 to March 2015.

Mr. Chim was an independent non-executive director of Standard Chartered Bank (China) Limited from October 2015 to October 2017. He served as an independent non-executive director of HDR Global Trading Limited, owner and operator of the BitMEX digital asset trading platform, from February 2021 to February 2022. Mr. Chim served as a non-executive director of China Chengtong Hong Kong Company Limited from July 2022 to June 2025. Mr. Chim is currently an independent non-executive director of OCBC Bank (Hong Kong) Limited, since November 2017; an independent non-executive director of Banco OCBC (Macau), S.A., since August 2023; an independent non-executive director of China Intellogis Technology Co., Ltd., since June 2024; and a director of Hong Kong Dance Company Limited since June 2026.

Mr. Chim obtained a Bachelor of Science degree from the Chinese University of Hong Kong in 1983 and an MBA degree from Indiana State University, USA, in 1985. He also graduated from the Senior Executive Program at Columbia University in 2000.

In connection with these changes, with effect from July 25, 2026, Ms. Cai will step down from the Nomination and Remuneration Committee, and Mr. Koon Wing Ernest Ip has been appointed as a member to that committee. The Company’s Special Committee will comprise Mr. Dicky Peter Yip, Mr. Koon Wing Ernest Ip and Mr. Siu Hong Cheng, continuing under the chairmanship of Mr. Dicky Peter Yip, with effect from July 25, 2026.

The Board would like to take this opportunity to thank Ms. Cai, Mr. Guo, Mr. Li and Mr. Xi for their service during the tenure of their office and warmly welcome Mr. Chim to the Board.

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners. In doing so, the Company has established relationships with 85 financial institutions in China as funding partners, many of which have worked with the Company for over three years.

Investor Relations Contact

Lufax Holding Ltd
Email: Investor_Relations@lu.com

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

 

View original content:https://www.prnewswire.com/news-releases/lufax-announces-board-and-management-changes-302834065.html

SOURCE Lufax Holding Ltd

Continue Reading

Technology

UMD Smith School Researchers Warn AI Security Lapses Highlight Urgent Need for Independent Oversight

Published

on

By

COLLEGE PARK, Md., July 24, 2026 /PRNewswire/ — A series of recent AI security lapses—including the OpenAI–Hugging Face breach—raises a fundamental question, say a pair of researchers at the University of Maryland’s Robert H. Smith School of Business: Can tech companies safely govern the powerful AI systems they build, or is stronger outside oversight now essential?

In its incident report, OpenAI confirmed that one of its experimental AI agents exploited a weakness in its testing environment while working on a routine benchmark task. The system wasn’t instructed to behave maliciously; instead, its persistence turned a small design flaw into a real escape. Earlier tests showed similar behavior, including agents that learned to bypass security checks by manipulating authentication tokens.

This pattern echoes findings from Dean’s Professor of Information Systems Siva Viswanathan at the Smith School, who studies how large technology platforms enforce rules. His research on mobile app privacy—published in Management Science—examined Google’s rollout of Android 6.0, which gave users more control over what data apps could collect. Developers were granted a flexible window to update their apps. Many used that flexibility to delay compliance for months, continuing to gather user data until Google imposed consequences such as lower search rankings and reduced visibility in its app store.

Viswanathan’s takeaway: when companies rely on voluntary compliance, self‑interested actors often exploit the slack. Real accountability requires pairing flexibility with firm, enforceable penalties.

That lesson now reverberates across the AI sector. As companies race to build increasingly capable systems, Viswanathan says oversight must treat these AI systems as strategic actors and must include strong safeguards that can pause or reverse a system before harm occurs.

He notes that a separate study from Anthropic underscores the stakes. In controlled tests, even an AI system designed to monitor another AI inherited the same flaws it was supposed to catch. In some cases, the “judge” model failed to flag clear sabotage because it agreed with the agent’s goals, allowing dangerous behavior to pass without human review.

Balaji Padmanabhan, Dean’s Professor of Decisions, Operations and Information Technologies and director of the Smith School’s Center for Artificial Intelligence in Business, extends Viswanathan’s governance argument into the realm of autonomous AI agents, warning that the same structural weaknesses now carry far higher stakes.

“The fact that this breach occurred organically without the AI agent being asked to be malicious is itself notable. Imagine what someone who actually intends to do harm can do. It’s also not terribly reassuring that the same firms we depend on for AI infrastructure, who are facing these issues, are the ones assuring enterprises that their systems with guardrails are perfectly safe,” says Padmanabhan. “We have to wake up to the fact that we’ve created capabilities that let software become as powerful as we want it to be—and then some. It’s time we seriously ask what’s needed to create an infrastructure to play defense well.”

Across the independent studies, the pattern is consistent, says Viswanathan: Voluntary compliance fails when the governed actor is more capable than the regulator. And AI systems cannot be governed by trust or good intentions alone. Oversight must be preventive, independent and capable of stopping harmful behavior before it spreads.

About the University of Maryland’s Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Contact: Greg Muraski, gmuraski@umd.edu

View original content:https://www.prnewswire.com/news-releases/umd-smith-school-researchers-warn-ai-security-lapses-highlight-urgent-need-for-independent-oversight-302834112.html

SOURCE University of Maryland’s Robert H. Smith School of Business

Continue Reading

Trending