The Latin America, Middle East and Africa Pipeline Monitoring System Market would witness market growth of 9.2% CAGR during the forecast period (2021-2027).
The Internet of Things (IoT) is changing the game by making asset monitoring easier and more economical than ever before, due to the new communication technologies and sensors. Low-power wide-area networks (LPWAN) in particular offer a low-cost, energy-efficient method of collecting granular telemetry data. LPWAN can connect vast, geographically dispersed metering stations with fewer infrastructures due to its long-range and star topology. In the oil and gas industry, private LPWAN is useful since its network coverage may be tailored to firms' individual demands at offshore and inaccessible sites.
An IoT-permitted pipeline monitoring network can help oil and gas operations in a variety of ways, including lowering costs and downtime, reducing environmental impact, and improving safety and regulatory compliance. Smart sensors can identify and hasten essential activities by communicating not only early-stage damage but also its position and severity. To reduce material losses and contamination caused by discharged products, the interval between remediation and failure must be as short as possible. Detecting faults early on also facilitates repair, resulting in lower costs & downtime associated with maintenance.
Given the presence of shallow-water oil reservoirs across Qatar, Saudi Arabia, Iran, and Kazakhstan, the Middle East and Africa is one of the largest markets for oil and gas pipeline monitoring systems in the world. This has resulted in an extensive use of pipelines for oil and gas transportation in these countries. The UAE has significant energy reserves. In the Organization of Petroleum Exporting Countries, the UAE is the world's seventh-largest crude oil producer and the fourth-largest producer of petroleum liquids (OPEC). Furthermore, the UAE has the world's seventh-largest natural gas reserves. As per the US Energy Information Administration, hydrocarbon extraction is crucial to the UAE economy, accounting for $65 billion or almost 20% of all export revenue (EIA). According to the latest figures from the UAE Central Bank, UAE petroleum exports (hydrocarbons) increased by 13.9 percent in 2019 to $66.2 billion (AED 243.1 billion), up from $58.1 billion (AED 213.5 billion) in 2017.
The Brazil market dominated the LAMEA Pipeline Monitoring System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $433.7 million by 2027. The Argentina market is estimated to grow at CAGR of 9.7% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 8.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Pipeline Monitoring System Market is Predict to reach $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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