Top 3 Trends Impacting the Global Corrosion Monitoring System Market Through 2021: Technavio

June 1, 2017

#Automation--Technavio’s latest market research report on the global corrosion monitoring system market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

Raghav Bharadwaj Shivaswamy, a lead analyst from Technavio, specializing in research on automation sector, says, “The global corrosion monitoring system market is expected to grow at a CAGR of close to 11% during the forecast period as these systems have a direct impact on the production and deployment of machinery, materials, pipelines, and projects in end-user industries.”

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

The top three emerging market trends driving the global corrosion monitoring system market according to Technavio research analysts are:
- Growing potential in emerging economies
- Increase in deployment of Internet of Things (IIoT) solutions
- Rise in mergers and acquisitions (M&A)
Growing potential in emerging economies

In emerging economies, many businesses are small and medium scale. In most cases, they cannot fully incorporate corrosion monitoring systems with sensor devices for manufacturing and other business activities. This is because the capital investment required for the procurement of corrosion monitoring systems is high. In recent years, with the increasing availability of online corrosion monitoring systems coupled with some reduction in the cost of such monitoring activities, there has been a substantial increase in the penetration of monitoring devices for quality assurance.

“The global corrosion monitoring system market is still at a nascent stage in developing economies. However, with the growth in industrial development, high investments, and rise in infrastructure facilities, it is estimated that emerging and developing countries will become the major customers of corrosion monitoring systems,” says Raghav.

Increase in deployment of Internet of Things (IIoT) solutions

The incorporation of IIoT in industries has laid strong market development features. At present, IIoT is making a major financial impact on oil and gas refineries and pipelines worldwide. It provides solutions to deal with safety and performance issues in the form of pervasive sensing solutions. The plant monitoring, especially in corrosion, provides timely action using predictive analysis. These activities help to optimize production processes with the help of wireless sensors. This, in turn, improves the safety and performance of pipeline systems.

The term "smart factory" or "intelligent factory" describes the evolution of industrial modernization, i.e., a vision of what industrial production would look like in the future. Machinery and equipment will be empowered to self-enhance and optimize corrosion monitoring based on analysis of real-time data, resulting in improved productivity. This would involve the use of individual sensors, probes, control technologies, and safety systems. The oil and gas, refinery, mining, and power generation industries are making significant investments in the corrosion monitoring of pipeline systems.

Rise in mergers and acquisitions (M&A)

M&A and market alliances by leading vendors are trends that will gain considerable momentum in the global corrosion monitoring system market during the forecast period. To sustain a competitive edge, vendors are trying to diversify their businesses through increased investments in new avenues. The foremost purpose is to intensify revenue growth and prevent dependence on a single segment of corrosion monitoring. Many manufacturers are also enhancing their current product portfolio through M&A, and some international vendors are establishing strategic alliances and partnerships with local vendors to explore the indigenous market.

Many corrosion monitoring system vendors in APAC, especially in China, are being acquired by European and North American manufacturers to diversify their portfolio and establish and expand their business in foreign markets. Smaller vendors of corrosion monitoring system vendors are working to consolidate through M&A to increase their chances of competing with major players in the market.

Browse Related Reports:
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like robotics. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
&source=" target="_blank" />

LONDON–(BUSINESS WIRE)–#Automation–Technavio’s latest market research report on the global
corrosion monitoring system market provides an analysis of the
most important trends expected to impact the market outlook from
2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

Raghav Bharadwaj Shivaswamy, a lead analyst from Technavio, specializing
in research on automation
sector, says, “The global corrosion monitoring system market is
expected to grow at a CAGR of close to 11% during the forecast period as
these systems have a direct impact on the production and deployment of
machinery, materials, pipelines, and projects in end-user industries.”

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging market trends driving the global corrosion
monitoring system market according to Technavio research
analysts are:

Growing potential in emerging economies
Increase in deployment of Internet of Things (IIoT) solutions
Rise in mergers and acquisitions (M&A)

Growing potential in emerging economies

In emerging economies, many businesses are small and medium scale. In
most cases, they cannot fully incorporate corrosion monitoring systems
with sensor devices for manufacturing and other business activities.
This is because the capital investment required for the procurement of
corrosion monitoring systems is high. In recent years, with the
increasing availability of online corrosion monitoring systems coupled
with some reduction in the cost of such monitoring activities, there has
been a substantial increase in the penetration of monitoring devices for
quality assurance.

“The global corrosion monitoring system market is still at a nascent
stage in developing economies. However, with the growth in industrial
development, high investments, and rise in infrastructure facilities, it
is estimated that emerging and developing countries will become the
major customers of corrosion monitoring systems,” says Raghav.

Increase in deployment of Internet of Things (IIoT) solutions

The incorporation of IIoT in industries has laid strong market
development features. At present, IIoT is making a major financial
impact on oil and gas refineries and pipelines worldwide. It provides
solutions to deal with safety and performance issues in the form of
pervasive sensing solutions. The plant monitoring, especially in
corrosion, provides timely action using predictive analysis. These
activities help to optimize production processes with the help of
wireless sensors. This, in turn, improves the safety and performance of
pipeline systems.

The term “smart factory” or “intelligent factory” describes the
evolution of industrial modernization, i.e., a vision of what industrial
production would look like in the future. Machinery and equipment will
be empowered to self-enhance and optimize corrosion monitoring based on
analysis of real-time data, resulting in improved productivity. This
would involve the use of individual sensors, probes, control
technologies, and safety systems. The oil and gas, refinery, mining, and
power generation industries are making significant investments in the
corrosion monitoring of pipeline systems.

Rise in mergers and acquisitions (M&A)

M&A and market alliances by leading vendors are trends that will gain
considerable momentum in the global corrosion monitoring system market
during the forecast period. To sustain a competitive edge, vendors are
trying to diversify their businesses through increased investments in
new avenues. The foremost purpose is to intensify revenue growth and
prevent dependence on a single segment of corrosion monitoring. Many
manufacturers are also enhancing their current product portfolio through
M&A, and some international vendors are establishing strategic alliances
and partnerships with local vendors to explore the indigenous market.

Many corrosion monitoring system vendors in APAC, especially in China,
are being acquired by European and North American manufacturers to
diversify their portfolio and establish and expand their business in
foreign markets. Smaller vendors of corrosion monitoring system vendors
are working to consolidate through M&A to increase their chances of
competing with major players in the market.

Browse Related Reports:

Become a Technavio
Insights member and access all three of these reports for a
fraction of their original cost. As a Technavio Insights member, you
will have immediate access to new reports as they’re published in
addition to all 6,000+ existing reports covering segments like robotics.
This subscription nets you thousands in savings, while staying connected
to Technavio’s constant transforming research library, helping you make
informed business decisions more efficiently.

About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com