Westford,USA, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Distributed temperature sensing (DTS) is an analytical tool used to measure the temperature of objects or substances over a wide area. It is a non-invasive technology that can be used to monitor various process and environmental parameters in real-time. Global Distributed Temperature Sensing Market growth is driven by a wide range of applications in different industries, such as oil and gas, power generation, food and beverage, pharmaceuticals, and others.
The growing demand for these technologies is based on the ever-growing need to monitor environmental conditions and optimize asset management. By automate gathering data and monitoring system performance, companies can save time and money while improving overall safety.
A key factor driving the demand for distributed temperature sensing market is the increasing number of devices that are connected to a network. For example, vehicles are increasingly becoming connected to networks to allow drivers enhanced control over their vehicles’ systems. In addition, buildings are becoming increasingly interconnected as various sensors are added in order to optimize energy usage and provide better insights into environmental conditions.
One of the main applications of distributed temperature sensing is building automation. These systems can be used to monitor and manage energy use, heat distribution, indoor air quality, and security. They can also be used to trigger alerts when certain conditions are met, such as high humidity levels or low temperatures. Other applications of distributed temperature sensing market include agriculture, mining, transportation systems, manufacturing plants, oil refineries, power plants, water treatment plants, greenhouses, cinemas and other places with large outdoor spaces.
The Asia-Pacific region is expected to be the fastest-growing distributed temperature sensing market during the forecast period. The region's growth can be attributed to the increasing demand from end-use industries, such as oil and gas, power generation, food and beverage, pharmaceuticals, etc. Additionally, government initiatives to promote smart city projects are also driving market growth in Asia-Pacific.
SkyQuest's analysis of the distributed temperature sensing market includes a detailed study of major players, trends, drivers, restraints, opportunities, and challenges. The report provides an in-depth analysis of the market size (in terms of value and volume) and forecasts for various segments and regions. It also provides a comprehensive competitive landscape of key players operating in this market.
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Handful Players Dominating the Global Distributed Temperature Sensing Market
SkyQuest's analysis shows that the global distributed temperature sensing market is currently dominated by a few large players, but there is significant opportunity for new entrants to gain market share. This is due in part to the fact that the technology is still relatively new and has yet to be fully exploited.
We believe that new entrants who are able to address the challenges associated with DTS implementation (e.g., cost, integration, training) will be well-positioned to capture a significant portion of the market.
Some of the major players in this market include Honeywell International Incorporated (U.S.), ABB Ltd (Switzerland), Yokogawa Electric Corporation (Japan), and Fujitsu Ltd (Japan). These companies are focusing on developing innovative solutions that address specific needs of the distributed temperature sensing market. For example, Honeywell International Incorporated is focusing on developing thermal imaging solutions for smart cities.
Yokogawa Electric Corporation is a major player in the Japanese distributed temperature sensing market with a strong presence across product lines and geographies. SkyQuest analysis reveals that the company has a strong competitive position across its products, with an industry-leading differentiation in terms of features and performance. The company also enjoys favorable scale advantages, as well as a competent management team with a track record of success.
The company has a strong presence in Asia Pacific, Europe and North America distributed temperature sensing market. It has partnered with leading vendors such as Bosch Rexroth AG (Germany), Eaton Corporation (US), General Electric Company (US), Hitachi SEI Holdings Incorporated (Japan), Mitsubishi Heavy Industries Limited (Japan), Parker Hannifin Corporation (US), Schneider Electric SA (France), and Siemens AG(Germany).
The DTS segment accounts for a significant portion of Yokogawa Electric's total revenue. Sales are generated through both direct sales to customers as well as contracts with subcontractors who supply equipment to customers in the distributed temperature sensing market. In 2021, the DTS segment recorded an operating loss. However, despite this loss, margins have remained relatively stable over the past few years due to heavy investment in new products and technological developments. To support future growth in the DTS segment, Yokogawa Electric plans to expand its salesforce by 30% over the next three years.
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Top Trends Driving Revenue in Distributed Temperature Sensing Market
- The key trend in distributed temperature sensing is the increased need for accuracy and reliability. This is due to the increasing popularity of smart buildings, which rely on accurate temperature readings to optimize energy use and maintain occupant comfort. Additionally, distributed temperature sensing has been shown to be effective in mitigating climate change.
- Today, distributed temperature sensing is both powerful and versatile. Thanks to advancements in technology, sensors can be located virtually anywhere and are capable of gathering data quickly and accurately. This means that distributed temperature sensing can be used in a variety of applications, from industrial manufacturing to food production. In addition, distributed temperature sensing is cost-effective compared to other solutions available on the market today. Consequently, businesses worldwide are beginning to explore its potential benefits.
- Likewise, weather forecasting relies heavily on accurate measurements of ambient temperature. In some cases–for example during severe thunderstorms–severe property damage can occur when wind speeds exceed 100 mph. By using thermocouples or other devices to monitor atmospheric temperatures in localized areas near airports or other high-risk locations, meteorologists can issue warnings or take other steps to prevent catastrophes in the distributed temperature sensing market.
- Aspects of smart city development are designed around increasing urban resilience against natural disasters such as floods or earthquakes. Thermal images can be used to detect areas where heat escapes from damaged or heated structures early using cameras mounted on weather balloons or drones which then relay this information back to ground stations for further analysis. Agricultural applications are growing increasingly popular due to their ability to improve crop productivity while reducing environmental impact. Sensors placed at different points along a farming continuum can monitor moisture levels in soil, air temperature conditions nearby crops.
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Top Players in Global Distributed Temperature Sensing Market
- Schlumberger Limited (US)
- Halliburton Company (US)
- Yokogawa Electric Corporation (Japan)
- Weatherford International PLC (Switzerland)
- Sumitomo Electric Industries (Japan)
- OFS Fitel (US)
- AP Sensing GmbH (Germany)
- Bandweaver Technologies (China)
- NKT Photonics (Germany)
- GESO GmbH & Co. (Germany)
- Sensornet Ltd. (UK)
- Omnisens SA (Switzerland)
- Tendeka (UK)
- Silixa Ltd. (UK)
- Inventec B.V. (Netherlands)
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