NEWARK, Del, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The asset integrity management market is estimated to be worth US$ 26.8 billion in 2024 and is projected to be valued at US$ 44.4 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 5.2%. Asset integrity management demand is high in oil and gas, energy, manufacturing, aerospace, and infrastructure industries. Growth or expansion in these sectors drives the need for effective asset management solutions.
The growing client demands for improved reliability, safety, and efficiency in operations push industries to invest in AIM for enhanced asset performance, driving the market growth during the forecast period. Many industries, such as oil and gas, energy, and manufacturing, are dealing with aging assets that require continuous monitoring and maintenance to ensure their reliability and longevity, driving the demand for asset integrity management solutions to address the challenges of maintaining older infrastructure
Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-18648
AIM assists in identifying and mitigating risks associated with asset failure, safety hazards, and environmental impacts. Proactively managing these risks reduces the likelihood of incidents leading to financial losses or reputational damage. Integrating AIM with digital platforms allows remote monitoring, data-driven insights, and centralized asset management.
This digitalization trend is driving the adoption of AIM across industries. The stringent regulations governing industries' safety, environmental protection, and infrastructure maintenance fuel the demand for asset integrity management solutions.
Key Takeaways:
- From 2019 to 2023, the asset integrity management market was valued at a CAGR of 3.8%
- Based on end-use, the power segment is expected to account for a share of 24% in 2024.
- Global asset integrity management demand in China is predicted to account for a CAGR of 5.7% in 2024.
- In the United States, the asset integrity management industry is expected to account for a CAGR of 3.0% in 2024.
- Germany is projected to expand by a value CAGR of 6% between 2024 and 2034.
- Asset integrity management market in Japan is anticipated to record a CAGR of 6.4% in 2024.
“The increasing technological innovations and growing regulatory compliance in various end-use industries are anticipated to drive the asset integrity management market growth during the forecast period," - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Scope of Report:
| Attributes | Details | |
| Estimated Market Size in 2024 | US$ 26.8 billion | |
| Projected Market Valuation in 2034 | US$ 44.4 billion | |
| Value-based CAGR 2024 to 2034 | 5.2% | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Market Analysis | Value in US$ billion | |
| Key Regions Covered |
| |
| Key Market Segments Covered |
| |
| Key Countries Profiled |
| |
| Key Companies Profiled |
| |
Competitive Landscape:
Key players focus on strategies like collaborations and partnerships. Key players are acquiring niche players are critical systems followed by leading players in the asset integrity management market.
Recent Developments in the Market
- Intertek Group plc offers asset integrity management services, including asset performance management, corrosion management, and inspection services. They cater to industries like oil and gas, chemicals, and manufacturing.
- Aker Solutions provides engineering, procurement, construction, and maintenance services, emphasizing asset integrity management solutions for the energy sector, particularly in oil and gas.
- Oceaneering International, Inc. specializes in providing offshore engineering and inspection services, including asset integrity management for subsea assets, remotely operated vehicles (ROVs), and inspection solutions for various industries.
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights: https://www.futuremarketinsights.com/checkout/18648
Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global asset integrity management market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.
To understand opportunities in the asset integrity management industry, the industry is segmented based on Service Type (Non- Destructive Testing (NDT), Risk- Based Inspection (RBI), Corrosion Management, Pipeline Integrity Management, Hazard Identification (HAZID) Study, Structural Integrity Management) By End-use (Oil and Gas, Power, Mining, Aerospace) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
Asset Integrity Management Market Key Segments:
By Service Type:
- Non- Destructive Testing (NDT)
- Risk- Based Inspection (RBI)
- Corrosion Management
- Pipeline Integrity Management
- Hazard Identification (HAZID) Study
- Structural Integrity Management
By End Use:
- Oil and Gas
- Power
- Mining
- Aerospace
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
Fixed Asset Management Software Market Size: Industry sales are expected to reach US$ 11.4 Billion in 2032, with a 10.6% CAGR from 2022 to 2032.
Asset Financing Platform Market Analysis: The global market is expected to grow at a CAGR of 9.3%. The market value is projected to increase from US$ 3,217.0 Million in 2023 to US$ 7,851.8 Million by 2033.
Enterprise Asset Management Market Outlook: The global market is estimated at US$ 3.21 Billion in 2022, and is predicted to close in on a valuation of US$ 4.86 Billion by 2028, surging ahead at a CAGR of 7.1% from 2022 to 2028.
Intellectual Property Software Market Share: The market is likely to register a CAGR of 12.7% during the forecast period (2022 to 2032).
Anti-money Laundering Market Overview: The market size is projected to be valued at US$ 3.18 billion in 2023 and is expected to rise to US$ 16.37 billion by 2033. The sales are projected to expand at a significant CAGR of 17.8% during the forecast period.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
