Pipelines used to carry fluids that are in a gas and liquid state. It increases the requirement for pipeline monitoring systems to examine damages, leakages, and other pipeline failures. Pipeline monitoring systems need to monitor the condition of the pipelines to ensure effective performance. Pipeline monitoring systems are necessary in the fastest growing industrialization because there are many underwater and underground pipelines being laid all over the world. The pipeline monitoring systems market is anticipated to show highest growth due to large number of oil & gas leakages, high pressure and natural disasters, strict government regulations for pipeline security & safety, and development & improvement of pipelines. The increase in demand in development of pipeline infrastructure across the world is the key opportunity of the pipeline monitoring solutions. However, pipeline monitoring system markets are restricted due to the limited awareness about monitoring system implementation among operators and high installation cost of pipeline monitoring system. The limited funds for development of aging infrastructure and multi-Site facilities posing challenges for implementation of comprehensive monitoring system are the major challenge faced by pipeline monitoring system market.

The pipeline monitoring system market is segmented on the basis of technology, application, end-user and pipe type. The technology segment of pipeline monitoring system market is further sub divided into Ultrasonic, Pig, Smart Ball, Magnetic Flux Leakage and others. The ultrasonic technology segment is leading market during forecast period (2016-2023). The application segment of pipeline monitoring system market is further sub segmented into Leak Detection, Operating Condition, Pipeline Break Detection and others. On the basis of end-user, pipeline monitoring system market is sub divided into Crude & Refined Petroleum, Water & Wastewater and others. The pipe type segment is further sub segmented into metallic pipeline and non-metallic pipeline.

Geographically, the pipeline monitoring system market is classified into North America, Asia-Pacific, Europe, and Rest of the World (RoW). North America is the dominating region and shares the largest market size in the pipeline monitoring system market, followed by Asia Pacific and Europe. The driving factor is large number of chemical industries and oil fields in North America, therefore long pipelines are needed for the moving of fluids from one place to another. Asia-Pacific is the fastest growing region and expected to show the highest growth rate during the forecast period (2016-2023) due to increased use of pipeline monitoring system technology in the petrochemical industry for human safety and comfort Asia-Pacific countries such as India, China etc.

The major players in the pipeline monitoring system market are Orbcomm Inc. (U.S.), Transcanada Company (Canada), PSI AG (Germany), Pure Technologies (Canada), Honeywell International Inc (U.S.), Siemens AG (Germany), Huawei Technologies Co. Ltd. (China), BAE Systems, Inc (U.k.), Atmos International (U.k.) and many more. These leading players are adopting different strategies to grow their market share and trying to penetrate the markets in developing economies.