Asset Integrity Management Services Market Size, Share and Future Outlook to 2027 - Flour Corporation, DNV GL AS, John Wood Group Plc., Oceaneering International, Inc., Rosen Group

Asset integrity management processes protects and enhance the capability of an asset to perform its necessary functions effectively. It efficiently manages corporate assets to gain profitability and all the services such as design, inspection, maintenance, and operations highly impact the integrity of infrastructure and equipment. Asset integrity management provides different services in which auditing, inspections, and overall quality processes are the tools which makes an integrity management system effective.

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Advanced Asset Integrity Management Solutions to Stimulate the Demand in the Future

Asset management is the significant part for asset-intensive industries and t plays a vital role in determining safety, operational performance, and profitability for the industry by selection, maintenance, inspection, and renewal of the required asset integrity management services. These services are largely employed in a wide range of industries mainly oil & gas, power, and mining in order to maximize return on assets and reducing the risks associated with accidents and loss of production. The implementation of these services of maintains company’s asset in fir-for-service ensuring technical integrity, safety, reliability, and regulatory compliance. The companies are innovating in delivering these services from time-based approaches to a performance-based approach. This is expected to reduce the overall maintenance cost along with increasing the life-time of the assets. The companies in the asset integrity management services market are offering integrated asset integrity management technologies in order to achieve superior operational excellence. The comprehensive services include specialist inspections, risk profiling, inspection management, repair strategies, plant operation studies, and proving technical expertise to authenticate regulatory compliance.

Global Asset Integrity Management Services Market – By Service Type
•    Non-Destructive Testing (NDT) Inspection
•    Corrosion Management
•    Pipeline Integrity Management
•    Structural Integrity Management
•    Risk-Based Inspection (RBI)
•    Hazard Identification (HAZID) Study
•    Reliability-Availability-Maintainability (RAM) Study
•    Forensic Engineering and Failure Analysis Service

Global Asset Integrity Management Services Market – By Industry
•    Oil & Gas
•    Power
•    Marine
•    Mining
•    Aerospace
•    Others

Strategic Insights

Market Initiative was observed as the most adopted strategy in global asset integrity management services industry. Few of the recent partnership, contractual alliances for the deployment of new technological solutions are listed below;

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.

2018: 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.

2018: John Wood Group announced its partnership with ENPPI in Egypt for continuing its talent and experience for providing the finest independent technical solution mainly for oil and gas projects and enable as well as facilitate subsea technology for training and transfer through projects and training courses.

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