Asset Integrity Management Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | SGS Société Générale de Surveillance SA, The Welding Institute Limited

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Asset Integrity Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $42.01 billion In 2028 At A CAGR Of 8.9% :

The asset integrity management market size has grown strongly in recent years. It will grow from $27.32 billion in 2023 to $29.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to complex industrial processes, safety and environmental concerns, focus on risk management, globalization of operations, shift from reactive to proactive maintenance.

The asset integrity management market size is expected to see strong growth in the next few years. It will grow to $42.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to human factors and behavioral safety, circular economy practices, energy efficiency and sustainability, predictive analytics for equipment health, supply chain resilience.. Major trends in the forecast period include adoption of digital twins, advanced data analytics for predictive maintenance, remote monitoring and inspection technologies, digitalization of asset documentation and records, cybersecurity measures for asset protection, collaboration for interoperability..

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Asset Integrity Management Market Major 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

Key Driver - Growing Demand For Maintaining The Assets Drive Sthe Asset Integrity Management Market Growth

The growing demand for maintaining the assets is expected to fuel the growth of the asset integrity management market in the coming years. The majority of businesses are introducing asset integrity management (AIM) services because it prevents significant harm to people and the community, and improves business efficiency. For example, MISTRAS Group, a US-based provider of advanced technology-enabled asset security solutions, reported revenue of $0.67billion in 2021, and for 2022, it was $0.68 billion, which is an increase of 1.51%. Therefore, the increasing demand for asset integrity management drives the asset integrity management market growth.

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Prominent Trend - Strategic Partnerships Driving Innovation In The Asset Integrity Management Market

Major companies operating in the asset integrity management market are adopting a strategic partnerships approach to provide verification and certification of assets to individuals, businesses, and governments. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, Antea, a US-based asset integrity management (AIM) software provider, partnered with Team Industrial, a US-based provider of integrated digitally enabled asset integrity solutions. The combined capabilities of the two businesses offers operators in asset-intensive industries including mining, oil and gas, aerospace, petrochemical, power, nuclear, and pharmaceutical a one-stop-shop AIM solution.

Asset Integrity Management Market Players
Major companies operating in the asset integrity management market report are 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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Largest And Fastest Growing Region In The Market
North America was 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

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Asset Integrity Management Market Report Structure
3. Asset Integrity Management Market Trends And Strategies
4. Asset Integrity Management Market - Macro Economic Scenario
5. Asset Integrity Management Market Size And Growth
…..
27. Asset Integrity Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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