LONDON–(BUSINESS WIRE)–Technavio’s newest market analysis report on the global enterprise pipeline management solutions (EPMS) market offers an evaluation of the most necessary traits anticipated to impression the market outlook from 2017-2021. Technavio defines an rising pattern as an element that has the potential to considerably impression the market and contribute to its progress or decline.
One of the key components ensuing in the progress of the international enterprise pipeline administration options market is the growing desire for pipeline transportation. The transportation of oil and fuel is normally known as midstream. Transport modes in the oil and fuel trade embody transportation via pipelines, delivery, trucking, and railroading.
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The three rising market traits driving the international enterprise pipeline management solutions market in keeping with Technavio analysis analysts are:
- Emergence of IIoT
- Big information analytics to achieve high quality information
- Growing penetration of LNG commerce
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Technavio’s pattern experiences are freed from cost and comprise a number of sections of the report together with the market measurement and forecast, drivers, challenges, traits, and extra.
Emergence of IIoT
The industrial web of issues (IIoT) is the subsequent era know-how for all the purposes attributable to its superior benefits in phrases of connectivity. IIoT had already been commercialized to a level in factories by 2016. Digitalization is increasing throughout the globe and entails elements that may establish and transmit conditional data. In addition, IIoT is additional simplifying the connectivity strategies utilizing IPv6-primarily based protocol addressing programs. The interoperability points additionally discover a higher resolution with the creation of IIoT.
According to Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for automation, “IIoT in the pipeline network collects the data relating to pipeline condition, rotating equipment condition, pressure cycles, and others. The pipeline behavioral aspects are used for understanding the usual pipeline operation and helps in identifying irregular operations before they escalate. As technology integration is progressing, it is increasing the ability to measure, collect, and analyze behavioral statistics.”
Big information analytics to achieve high quality information
One of the main advances that the petroleum trade has witnessed is the software of huge information analytics in the oil trade. Companies are combining complicated and big information obtained from geoscientists with the ones from information scientists in drilling purposes. However, in pipeline purposes, huge information consists of the information derived from working processes and instrumentation parameters comparable to temperature, stream charge, stress, and readings from different linked units.
“Big data in pipeline applications also includes event specific data such as equipment failure, replacement of equipment, and predictive maintenance. There is a huge amount of data, however, operators require specific data to optimize operations of pipelines. Thus, big data analytical tools are used to derive quality information through analysis, data verification, and validation,” says Raghav.
Growing penetration of LNG commerce
Liquefied pure fuel (LNG) offers flexibility of transporting pure fuel from any location via the sea route. In 2015, the international LNG commerce was estimated to be 244.eight MT and most of this demand originated from APAC. The area accounted for 139.eight MT of LNG in 2015 or 71.7% of the international LNG demand. To seize the alternative of elevated demand, LNG exporting nations comparable to Qatar, Australia, Russia, and the US are increasing their investments in LNG and more and more catering to the Asian market.
The LNG commerce has posed a problem to the pipeline infrastructure investments in all the areas, notably in the present situation, the place the upstream sector is dealing with challenges attributable to low crude oil and pure fuel costs. It is anticipated that LNG will emerge as a serious menace to the new pipeline investments over the forecast interval and subsequently hamper the EPMS market progress.
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