Asset Integrity Management Services Market Growth by Emerging Trends Analysis and Forecasts 2019-2027 SGS AG, Intertek Group plc, Aker Solutions ASA, Bureau Veritas SA, Fluor Corporation, DNV GL AS, John Wood Group PLC

Asset Integrity Management Services Market accounted to US$ 17.95 Bn in 2018 and is expected to grow at a CAGR of 8.9% during the forecast period 2019 - 2027, to account to US$ 37.92 Bn by 2027.

The asset integrity management services market is heavily concentrated in nature with considerable number of players, having a high level of dominance over the overall revenue share. Most of the companies operating in the asset integrity management services market are present globally and have wide distribution and sales network through partnerships.

One of the most prominent market players in asset integrity management services market are SGS AG, Intertek Group plc, Aker Solutions ASA, Bureau Veritas SA, Fluor Corporation, DNV GL AS, John Wood Group PLC, Oceaneering International, Inc., Rosen Group, and Cybernetix SA among others, and holds for a considerable share of the market owing to their service offerings to the asset integrity management services market.

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asset integrity management services market leaders are involved in extensive research for the development of new services with advanced technology. For instance, in 2018 Aker Solutions collaborated with Siemens to strengthen digital offerings in engineering. The collaboration is aimed to build the software applications that would drive the efficiency of entire plant lifecycle. Subsequently, introduction of such advanced innovation are expected to provide this market with lucrative growth opportunities.

Many well-known as well as small local companies are present in the asset integrity management services market to provide diversified product to its customers. The larger firms are adopting the strategy of partnership, contractual alliances for the deployment of new technological solutions to enhance its product portfolio and expand its footprint in different geographies. Few on the important market initiative from the industry are mentioned below:

News

• Bureau Veritas announced a strategic partnership with Avitas Systems. This partnership is expected to advance the independent inspection services by integrating Avitas Systems cloud-based platform, combining automated data collection and artificial intelligence techniques to improve the asset based risk management
• John Wood Group announced its collaboration with ABYSSAL S.A., to pioneer in latest digital technology focused at development of the design, operation and inspection, constructability of subsea assets worldwide
• Oceaneering International, In. partnered with F&M Private Ltd to explore asset integrity projects within Pakistan. The partnership is aimed to provide a modernized approach to delivering asset integrity services to oil and gas and industrial sectors.
• Rosen Group expanded to APAC by opening of new offices in Kuala Lumpur, Malaysia. The expansion will help the company to widen its reach and cater to a larger customer base.

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