About Enterprise Pipeline Management Solutions (EPMS)
EPMS provides a comprehensive series of standard software applications that are integrated within real-time system platforms, to facilitate pipeline management and operations. The report includes only software market in the scope. The global EPMS market is currently driven by investments and upgrading of the existing oil and gas pipeline infrastructure to optimize the process flow and derive functional data that can support the predictive decision making of a company. However, the market is facing challenges, as retrenchment in upstream projects reduced the demand for new pipeline setups.
Technavio’s analysts forecast the global enterprise pipeline management solutions (EPMS) market to grow at a CAGR of 1.70% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global enterprise pipeline management solutions (EPMS) market for 2017-2021. To calculate the market size, the report considers the retail selling price is considered as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Enterprise Pipeline Management Solutions (EPMS) Market 2017-2021
Technavio recognizes the following companies as the key players in the global enterprise pipeline management solutions (EPMS) market: Emerson, GE, Rockwell Automation, Schneider Electric, and Yokogawa.
Other Prominent Vendors in the market are: Cisco, HCL Technologies, Honeywell, SAP, and Wipro.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emergence of IIoT. Industrial Internet of Things (IIoT) is the next generation technology for all the applications owing to its superior advantages in terms of connectivity. IIoT had already been commercialized to a degree in factories by 2016. The digitalization is expanding worldwide and involves components that can identify and transmit conditional information. In addition, IIoT is further simplifying the connectivity techniques through the use of IPv6-based protocol addressing systems. The interoperability issues also find a better solution with the advent of IIoT.”
According to the report, one of the major drivers for this market is Increasing preference for pipeline transportation. The transportation of oil and gas is usually referred as midstream. Transport modes in the oil and gas industry include transportation through pipelines, shipping, trucking, and railroading. Oil and gas are often produced at remote locations. They are then transported to refineries, after which they are processed into refined products and transported to end-users. Oil and gas projects are long-term projects, having an average life cycle of 20-30 years.
Further, the report states that one of the major factors hindering the growth of this market is Lack of new investments in oil and gas industry. Technologies such as hydraulic fracturing and horizontal drilling revolutionized the oil and gas industry by allowing oil extraction from shale rocks in the US. Thus, the US production of crude oil and condensates increased by 17% in 2014, compared with that in 2013. In 2015, the scenario worsened with the relaxation on Iran to export petroleum products and Saudi Arabia's decision of not cutting down the production.
Emerson, GE, Rockwell Automation, Schneider Electric, and Yokogawa, Cisco, HCL Technologies, Honeywell, SAP, and Wipro.
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