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(MoneyNewsWire.Net, September 22, 2018 ) According to Verified Market Intelligence, the global asset integrity management market was valued at USD 17.53 billion in 2016 and is projected to reach USD 37.95 billion by 2025, growing at a CAGR of 8.96% from 2017 to 2025.
Asset Integrity Management comprises various processes that are essentially used for the functioning of the systems. It maintains as well as manage corporate assets effectively and to make sure they are safe, operationally efficient as well as reliable. There are several advantages of implementing asset management such as the improvement that the implementation will provide to the reliability of the instruments and devices used for the operation of the industry. The optimization as well as inspections that are provided which will ensure that the systems are running in a manner that meets business targets.
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Rising explorations for the oil and gas reserves in the emerging countries, reduction in oil and gas prices, increasing demand for maintaining the asset and plant and strict government safety rules and quality control requirements have been driving the global asset integrity management market. Moreover, adoption of cloud technology with the asset integrity management services and growing need for asset integrity management in new offshore fields in deep waters have also contributed to the growth of the market. While, high initial cost, complex process of system installation and lack of technical expertise act a potential restraint for the overall market at a global level.
The “Global Asset Integrity Management Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as DNV GL AS, Intertek Group PLC, Fluor Corporation, SGS SA, Oceaneering International Inc., TechnipFMC plc, Bureau Veritas SA, ROSEN Swiss AG and John Wood Group PLC. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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