Global Asset Integrity Management Market Scope 2024, Forecast To 2033
14 Feb, 2024
The asset integrity management market has witnessed robust growth, expanding from $27.32 billion in 2023 to $29.83 billion in 2024, boasting a 9.2% compound annual growth rate (CAGR). This surge is attributed to industrial complexities, safety concerns, environmental focus, risk management emphasis, and the global shift from reactive to proactive maintenance. Anticipated growth is strong, with expectations to reach $42.01 billion in 2028, maintaining an 8.9% CAGR. The forecasted period highlights trends like digital twin adoption, advanced data analytics, remote monitoring technologies, and cybersecurity measures.
Global Asset Integrity Management Market Key Driver
The augmented analytics market is expected to grow with the increasing demand for business intelligence (BI) tools. BI tools facilitate data-driven decision-making, promoting data democratization across organizations. The Dresner Advisory Services survey underscores the high executive adoption of BI tools at 64%, driving augmented analytics market growth.
Get A Free Sample Of The Global Asset Integrity Management Market ReportGlobal Asset Integrity Management Market Segments
The asset integrity management market covered in this report is segmented –
1) By Service Type: Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Pipeline Integrity Management, Hazard Identification (HAZID) Study, Structural Integrity Management, Other Services Types
2) By End Use Industry: Oil And Gas, Power, Mining, Aerospace, Other End Users
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas the largest region in the asset integrity management market in 2023. The regions covered in the asset integrity management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Asset Integrity Management Industry Players
SGS Société Générale de Surveillance SA; The Welding Institute Limited; EM&I Group; LifeTech Engineering Limited; Aker Solutions ASA; Applus+ Services S. L.; DNV GL AS; Wood Group (John) PLC; Oceaneering International Inc.; Intertek Group plc; Metegrity Inc.; FORCE Technology Norway AS; Bureau Veritas SA; TechnipFMC plc; Fluor Corporation; Dacon Inspection Technologies; General Electric Company; ABB Ltd.; Siemens AG; TÜV SÜD Group; American Bureau of Shipping (ABS); Velosi Asset Integrity Limited; Axess Group AS; Element Materials Technology; MISTRAS Group Inc.; Genesis Oil and Gas Consultants Ltd.; Penspen Ltd.; Asset Guardian Solutions Ltd.; Lloyd's Register; GE Oil & Gas
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Asset Integrity Management Market Overview
Asset integrity management (AIM) is a method that enables the asset's ability and potential to be effectively managed to mitigate and eliminate corrosion and fatigue crack degradation. It ensures that a facility's assets are designed, fabricated, procured, installed, and maintained appropriately for their intended application throughout the operation's life.
Asset Integrity Management Global Market Report 2023 provides data on the global asset integrity management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The asset integrity management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.