Distributed Temperature Sensing Market Value Of $811.5 Million Forecast Till 2022

The overall Distributed Temperature Sensing (DTS) Market was valued at USD 484.7 million in 2015 and is expected to reach USD 811.5 million by 2022, at a CAGR of 7.66% between 2016 and 2022. The growth of this market is driven by the rising demand for DTS systems for monitoring purposes in hostile working conditions wherein humans cannot reach, high reliability of DTS systems as they can be deployed over long distances, and increasing need for improved safety systems.

The competition in the DTS market is high due to the presence of a large number of players. Some of the key players in the DTS market include Halliburton Company (U.S.), Sensornet Ltd. (U.K.), Furukawa Electric Co., Ltd. (Japan), Schlumberger NV (U.S.), Omnisens SA (Switzerland), Yokogawa Electric Corp. (Japan), Weatherford International PLC (Switzerland), Sumitomo Electric Industries Ltd. (Japan), Omicron Electronics GmbH (Austria), Tendeka B.V. (U.K.), AP Sensing GmbH (Germany), GESO (Germany), LIOS Technology GmbH (Germany), and Bandweaver Technologies (China), among others.

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Schlumberger N.V. has its headquarters Texas, U.S.; it employed approximately 95,000 people, as of 2015. The company operates in approximately 85 countries across North America, Latin America, Europe/ Commonwealth of Independent States (CIS)/Africa, and the Middle East & Asia. It is one of major suppliers of technology, integrated project management, and information solutions to the oil and gas exploration and production industry. Mergers and acquisitions were the major strategies adopted by Schlumberger between 2014 and 2016. For instance, in April 2016, Schlumberger acquired Cameron International Corporation (Cameron), a leading provider of flow equipment products, systems, and services to the oil and gas industries worldwide, in a stock and cash transaction.

This acquisition would further strengthen the company’s DTS services offerings. In September 2015, Schlumberger acquired Fluid Inclusion Technologies, Inc. (U.S.), which specializes in the laboratory analysis of trapped fluids in rock materials and in the advanced borehole gas analysis on drilling wells.

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Halliburton Company was founded in 1919 and has its headquarters in Texas, U.S. It is one of the major companies in the energy sector that provides products and services for the exploration, development, and production of natural gas and oil. As of December 31, 2015, the company employed 65,000 people. It provides distributed temperature systems under its fiber optic monitoring services portfolio. The company offers FiberWatch DTS for distributed temperature monitoring in various applications such as heavy oil thermal environments. Its vast product portfolio and strategic mergers & acquisitions are helping it grow in DTS market. In July 2013, Halliburton Company acquired Optiphase, Inc. (U.S.), one of the leading providers of interferometric fiber optic sensing solutions. This acquisition would help the company improve its portfolio of products and services in the fiber optic monitoring category..

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