Digital Evolution in the Process Industry Boosts the Market for Corrosion Monitoring

ARC Advisory Group’s new research on the corrosion monitoring market reveals that the market will see significant growth with the increasing influence of IoT in process industries. Corrosion is a costly issue for various industries, as it can damage and impair equipment, reduce performance, and require maintenance. The worldwide cost of corrosion is enormous, and it poses a significant challenge for different sectors. Corrosion monitoring is a vital facet, along with other technologies such as vibration monitoring and infrared thermography, in deploying a holistic health monitoring and plant asset management system. With the increasing influence of IoT on industrial processes, the demand for the real-time condition monitoring of assets and data analytical services is also increasing.

"Corrosion monitoring solutions that lower the environmental impact of equipment and structures are likely to be more in demand as sustainability and environmental protection are now the buzzwords across industries. This trend is an opportunity for companies that provide these kinds of corrosion monitoring solutions. Another trend driving the market is remote asset management using wireless technologies in hard-to-access areas of the oil and gas fields and chemical and power generation fleets that is finding increasing acceptance from end users. Additionally, wireless technology makes installation faster, is more cost-effective, and enables measurements that were not previously feasible. As wireless technology makes more points accessible, the usage of corrosion monitoring systems will also increase,” according to Vidya Prasad, Senior Analyst and key author of ARC's Corrosion Monitoring Market Research.

Corrosion Monitoring Market Trends

In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:

  • Increasing Need for Asset Integrity Management 
  • Increasing Focus on Sustainability
  • Digitalization
  • Real-time Corrosion Monitoring
  • Increase in the Deployment of Industrial IoT Solutions 
  • Growing Potential in Emerging Economies

Leading Suppliers to the Corrosion Monitoring Market Identified

In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ClampOn, Cosasco, Emerson Automation Solutions, Metal Samples Company, Teledyne Cormon.

About the Corrosion Monitoring Research

Corrosion Monitoring Market TrendsThe Corrosion Monitoring report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The research segmentation includes Industry, Customer Type, World Region, Sales Channel, Hardware by Type, Revenue Category, Overall Scope, Probes & Sensors by Type, Measurement Method.
 

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