The Europe Pipeline Monitoring System Market would witness market growth of 7.2% CAGR during the forecast period (2021-2027).
Remote monitoring solutions based on the Internet of Things (IoT) increase the safety, dependability, and performance of industrial equipment and assets. To minimize unplanned downtime and improve asset reliability, they employ real-time data from production assets. In companies that demand a lot of equipment that functions from remote places, remote monitoring systems have a variety of uses. Customers can track and collect data to see where their assets and equipment are, how well they're working, and spot problems as they arise. In addition, companies can also receive real-time alerts on any crucial incidents without dispatching field people.
Real-time monitoring allows users to obtain a deeper understanding of their assets, enabling them to forecast machine failure and locate replacement parts. This system also helps users to plan maintenance and repairs ahead of time, forecast events before they happen, and receive real-time warnings so that they can respond quickly, increasing the life of the assets.
Water resource management strategies in Germany were first established by enacting the requirements of Agenda 21, which was agreed in 1992 at the United Nations Conference on Environment and Development in Rio de Janeiro. In Germany, maintaining the quality of drinking water is still a priority. Viruses and parasites that are generally resistant to chlorine have arisen as new problems. Chemical pollution of untreated water, particularly pesticides and nitrates, generates further issues. Lead pipelines have lately resurfaced as a result of the decrease of the load limit value in drinking water. New & safe materials must be used to substitute these pipelines. In many sewage treatment plants, purification phases to eliminate organic contaminants and considerable nutrient reduction have been implemented. Many electrical & telecommunications cables, oil and gas pipelines are being built on or under the seafloor, tourism is on the rise, and massive offshore wind farms with up to 600 units per location are being planned.
The Germany market dominated the Europe Pipeline Monitoring System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,295.8 million by 2027. The UK market is poised to grow at CAGR of 6.3% during (2021 - 2027). Additionally, The France market would experience a CAGR of 7.9% during (2021 - 2027).
Based on Technology, the market is segmented into Ultrasonic, PIGs, Smart Ball, Magnetic Flux Leakage, Fiber Optic Technology, and Others. Based on Solution, the market is segmented into Leak Detection, Pipeline Break Detection, Operating Condition, and Others. Based on Pipe Type, the market is segmented into Metallic & Non-Metallic. Based on End-use, the market is segmented into Crude & Refined Petroleum, Water & Wastewater, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Pipeline Monitoring System Market Size will Hit $19.9 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd., Siemens AG, Thales Group S.A., Pentair PLC, Orbcomm, Inc., BAE Systems PLC, ABB Group, Honeywell International, Inc., PSI Software AG, and Perma-Pipe International Holdings, Inc.
By Technology
By Solution
By Pipe Type
By End Use
By Country
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