Top 3 Trends in the Enterprise Pipeline Management Solutions Market - Technavio
January 13 2018 - 11:03AM
Business Wire
Technavio’s latest market research report on the global
enterprise pipeline management solutions (EPMS) 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.
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Technavio has published a new market
research report on the global enterprise pipeline management
solutions market 2017-2021 under their industrial automation
library. (Graphic: Business Wire)
One of the key factors resulting in the growth of the global
enterprise pipeline management solutions market is the increasing
preference for pipeline transportation. The transportation of oil
and gas is usually referred to as midstream. Transport modes in the
oil and gas industry include transportation through pipelines,
shipping, trucking, and railroading.
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The three emerging market trends driving the global enterprise
pipeline management solutions market according to Technavio
research analysts are:
- Emergence of IIoT
- Big data analytics to attain quality
data
- Growing penetration of LNG trade
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Emergence of IIoT
The industrial internet of things (IIoT) is the next generation
technology for all the applications due to its superior advantages
in terms of connectivity. IIoT had already been commercialized to a
degree in factories by 2016. Digitalization is expanding across the
globe and involves components that can identify and transmit
conditional information. In addition, IIoT is further simplifying
the connectivity techniques using IPv6-based protocol addressing
systems. The interoperability issues also find a better solution
with the advent 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 data analytics to attain quality data
One of the major advances that the petroleum industry has
witnessed is the application of big data analytics in the oil
industry. Companies are combining complex and massive data obtained
from geoscientists with the ones from data scientists in drilling
applications. However, in pipeline applications, big data includes
the data derived from operating processes and instrumentation
parameters such as temperature, flow rate, pressure, and readings
from other connected devices.
“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 trade
Liquefied natural gas (LNG) provides flexibility of transporting
natural gas from any location through the sea route. In 2015, the
global LNG trade was estimated to be 244.8 MT and most of this
demand originated from APAC. The region accounted for 139.8 MT of
LNG in 2015 or 71.7% of the global LNG demand. To grab the
opportunity of increased demand, LNG exporting countries such as
Qatar, Australia, Russia, and the US are expanding their
investments in LNG and increasingly catering to the Asian
market.
The LNG trade has posed a challenge to the pipeline
infrastructure investments in all the regions, particularly in the
current scenario, where the upstream sector is facing challenges
due to low crude oil and natural gas prices. It is anticipated that
LNG will emerge as a major threat to the new pipeline investments
over the forecast period and subsequently hamper the EPMS market
growth.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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