Asset Integrity Management Services Market to Reach $37.92 Billion by 2027

According to the report, "Asset Integrity Management Services Market to 2027 - Global Analysis and Forecasts by Service Type, and Industry" recently released by Research and Markets, the global Asset Integrity Management (AIM) services market accounted for $17.95 billion in 2018 and is expected to grow at a CAGR of 8.9% over the next eight years and reach $37.92 billion by 2027.

The increasing demand for asset integrity management services is due to a variety of factors, including an increase in the need for operational safety of aging assets in risk-based industries and strict government safety regulations. Furthermore, the surge in the size of the oil & gas industry with an increase in demand for oil & gas is expected to provide substantial growth opportunity to the market players in near future.

The report provides a detailed analysis of the asset integrity management services market on the basis of service type, industry, and geography. When looking at service type, the non-destructive (NDT) inspection segment led the global asset integrity management services market in 2018, and the same is anticipated throughout the forecast period from 2019 - 2027. However, the corrosion management segment is expected to experience significant growth in the forecast period.  With regards to industry, the oil & gas segment accounted for the largest market share in 2018, and the same is expected throughout the forecast period from 2019 - 2027. However, the power segment is estimated to be the fastest growing segment from 2019 - 2027.