The report is titled, “Global IoT Market in Pipeline Management 2017-2021” and comprises a detailed overview of this market from both a global and regional point of view. The overview, definition, application, and benefits associated with IoT and pipeline management have been included in this report for the benefit of readers. According to the report, there are various factors influencing the pipeline industry, making it what it is today. These include: political factors, technological advancements, environmental factors, and regulations. Thus, due to all these factors, the pipeline industry is witnessing a massive transformation.
The adoption of integrated solutions is aiding organizations to secure high productivity without increasing the cost of life cycle, and improved ROI. The adoption of IoT solutions is helping end user industries to overcome various issues associated with infrastructure security and regulations. IoT solutions help in connecting multiple facets of pipeline management, thereby resulting in hassle-free operations. All these factors are anticipated to boost the adoption rates of IoT in pipeline management. According to the report, this market is slated to expand at a 12% CAGR between 2017 and 2021. The report also studies the impact analysis of the various factors fueling the growth of this market.
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As per the lead author of this report, the use of drones for pipeline monitoring will be a key trend that is here to stay for a long time, and which also will be a driving factor for the growth of the global IoT market in pipeline management. Drones are increasingly being preferred by end user industries for the monitoring of their pipelines. Moreover, drones are being adopted to report leakages, uneven distributions, and blockages. Drones are now being developed that help with the maintenance of pipelines, maintenance of related equipment, and distribution of pipelines. All these factors are anticipated to fuel the growth of the IoT market in pipeline management.
The report not only gives details about the various factors positively influencing the growth of the IoT market in pipeline management, but also gives an equally unbiased detail on all the factors that are responsible for hampering the growth of the market. As such, the report aims to give a clear idea to readers and potential investors about what lies ahead of them in the competitive IoT market in pipeline management. One of the factors largely hampering the growth of this market is the large investment required for the adoption of IoT technology. End user industries have to invest huge sum of money for adopting IoT technology, which is dissuading them from doing so, on account of shortage of capital.
However, the concern regarding leakages and thefts will compel industries to make use of drones and also make them realize that they are a cost-effective way for securing huge losses. Thus, the demand for IoT solutions for monitoring pipelines will continue to increase and drive the growth prospects for this market in the coming years.
The market is segmented on the basis of application into asset monitoring, predictive maintenance, leakage detection, and remote monitoring. Of these, the asset monitoring segment is anticipated to emerge as a key application area for IoT market in pipeline management. By end user, the market is segmented into oil and gas, petrochemicals, and water and wastewater. Of these, the oil and gas sector is increasingly found to be adopting IoT in pipeline management to reduce the cost of transportation and to improve their distribution and monitoring oil and gas in pipelines.
Some of the leading players mentioned in the report are: Cisco, Yokogawa, Schneider Electric, AMETEK, Sierra Wireless, Leica Geosystems, TELUS, and Aerotech
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