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Pipeline security is a system that passively detects and locates different leaks, hazards of pipeline systems in real-time. The detection is enabled with high accuracy locations within the pipeline parameters, which distinguishes the process of errors and damages anywhere along the pipeline. The pipeline system allows a cost-effective transportation method and consumes less time than other modes of transportation.
Based on the product type, the market is segmented into the SCADA system, pipeline monitoring, GIS mapping, video surveillance, and others. The SCADA system offers the detection of different ground and hazardous underground leaks and is specifically used for digging, underground activities. It also helps to analyze the data for making critical decisions.
Based on the end-user industry, the market is segmented into oil and gas, telecommunication, and others. The oil and gas segment is anticipated to dominate the market in this segment due to the rising demand for oils and gases. The safety associated with transportation has driven the focus of key players in oil and gas to adapt the security for the pipeline.
One of the major drivers for the pipeline security market is the growing industrialization and
demand for oil and gas energy. Furthermore, the threats associated with the transportation of the products have aroused the need for pipeline security.
The major restraints for pipeline security are susceptible to land disturbance which creates maintenance issues and operational costs involved in the pipeline security system.
Key Market Driver -
The rise in Investments for oil and gas along with cost for transportation acts as major market drivers
Key Market Restraint -
Environmental Concerns and disturbances of land are the major restraints
Some of the major companies present in the global pipeline security market are Honeywell Process Solution, ABB Ltd, Rockwell Automation Inc., Siemens AG, GE, Alstom, Bae System, Future Fiber Technologies, OptaSence Ltd, Elbit Systems, Inter Pipeline Ltd, L&T, and Schneider Electric.
The pipeline security market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. In North America, the government has implemented stringent for securities of the pipeline system with the rising threats of cyber-attacks, leakages, illegal tapping and are working, in consequence, to deliver a comprehensive solution for the pipelines securities to monitor and control the pipeline network efficiently, based on this factor North America holds the maximum shares of the pipeline security market.
Followed by North America, the Asia Pacific has seen the demand for oil and gas and is working on the advancement of technologies like SCDA systems, aerial vehicles, video surveillance, and others for the pipeline security systems. In Latin America, the Middle East the increasing threats of cyber-attacks, illegal tapping, thefts, terror attacks have aroused a need for implementing and formulating strategies for pipeline securities owing to growth during the forecast period.
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