The global pipeline monitoring system market size is expected to reach USD 28.22 billion by 2032, according to a new study by Polaris Market Research. The report “Pipeline Monitoring System Market Share, Size, Trends, Industry Analysis Report, By Technology (Ultrasonic Testing, PIGS, Smart Ball, Magnetic Flux leakage Technology and Others), Pipe Type, Application, By Region, And Segment Forecasts, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is booming due to the new technology innovation for early detection of corrosion or erosion in the pipeline, especially in gas pipeline. These technology help to gas and oil manufacture to find the workload of pipeline. The increasing number of gas and pipeline leakage in production and storage are increase the demands for pipeline monitoring system during forecast period.
For instance, in October 2022, Klarian, announced agreement with the InfinyOn. InfinyOn will drive innovation into the sectors to draw real time insights and for Klarian has developed the “Digipipe”, a pipeline monitoring solution with a performance dashboard which integrates with the “InfinyOn”, to stream, transform & load events in the real-time business scenario.
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The market are driven due to new technology innovation like IoT and wireless sensor network, they are monitors and predicting when it need to maintenance. Distributed Acoustic Sensing (DAS) is used to continuous monitoring of pipelines in under water leaks and faults. Seismic streamers are used to locate proper location for drilling which help reduce the risk of threatening consequences. Perimeter Intrusion Detection Systems (PIDS) in oil and gas industry are help to protect and maintain the security of the site and the integrity of production.
Pipeline monitoring system Market Report Highlights
Polaris Market Research has segmented pipeline monitoring system market report based on technology, pipe type, application, and region:
Pipeline monitoring system, Technology Outlook (Revenue - USD Billion, 2019-2032)
Pipeline monitoring system, Pipe Type Outlook (Revenue - USD Billion, 2019-2032)
Pipeline monitoring system, Application Outlook (Revenue - USD Billion, 2019-2032)
Pipeline monitoring system, Regional Outlook (Revenue - USD Billion, 2019-2032)