Asset Integrity Management Market

Market Definition

The market involves systems, tools, and processes used to ensure that industrial assets, such as pipelines, pressure vessels, offshore platforms, and refineries function efficiently, safely, and for their intended lifespan. It covers activities like inspection, monitoring, maintenance planning, and risk assessment, often supported by specialized software.

The market serves sectors such as oil & gas, power, mining, and chemicals, where equipment reliability is critical. Applications range from corrosion management to structural health monitoring, helping operators minimize failures, maintain compliance, and extend the life of high-value infrastructure in complex industrial environments.

The report highlights key market drivers, major trends, regulatory frameworks, and the competitive landscape shaping the market growth.

Asset Integrity Management Market Overview

The global asset integrity management market size was valued at USD 23.36 billion in 2023 and is projected to grow from USD 24.45 billion in 2024 to USD 35.14 billion by 2031, exhibiting a CAGR of 5.32% during the forecast period.

The market is driven by the expansion of offshore exploration activities, which require advanced solutions for ensuring asset reliability in harsh environments. Additionally, rising investments in smart industrial technologies, such as IoT and AI, are enhancing real-time monitoring and predictive maintenance, further boosting the market.

Major companies operating in the asset integrity management industry are SGS Société Générale de Surveillance SA, Antea, Intertek Group plc, TechnipFMC plc, Aker Solutions ASA, MaxGrip, DNV AS, John Wood Group PLC, Oceaneering International, Inc., Fluor Corporation, Baker Hughes Company, TÜV SÜD AG, LifeTech Engineering Ltd, Metegrity Inc., and FORCE Technology.

The market is gaining momentum, due to increased awareness and concern over industrial accidents that result in significant financial losses and reputational damage. Regulatory bodies and enterprises are enforcing stricter safety standards, requiring continuous assessment of assets.

This growing emphasis on accident prevention and safety protocol adherence is encouraging industries to invest in reliable integrity management systems to ensure uninterrupted operations and reduce liabilities across their infrastructure networks.

Key Highlights:

1. The global asset integrity management market size was valued at USD 23.36 billion in 2023.
2. The market is projected to grow at a CAGR of 5.32% from 2024 to 2031.
3. North America held a market share of 36.44% in 2023, with a valuation of USD 8.51 billion.
4. The non-destructive testing (NDT) segment garnered USD 8.79 billion in revenue in 2023.
5. The oil and gas segment is expected to reach USD 14.31 billion by 2031.
6. The market in Asia Pacific is anticipated to grow at a CAGR of 7.03% during the forecast period.

Market Driver

Growth in Offshore & Deepwater Exploration Activities

The market is expanding, due to the rising offshore and deepwater exploration. These environments require advanced systems to monitor high-pressure operations, harsh environmental exposure, and corrosive conditions. Ensuring operational continuity and reducing downtime risks in offshore platforms necessitate robust asset lifecycle solutions.

• The Global Energy Monitor report released in March 2025 revealed that new offshore discoveries in the year amounted to at least 8 billion barrels of oil equivalent (bboe). Of this, approximately 4 bboe received approval for offshore development, while around 6.5 bboe began production as offshore projects launched. These numbers show a modest increase compared to 2023, with 85% of the total discovery volume concentrated in just ten offshore fields.

Market Challenge

High Cost Associated with Implementing Advanced Technologies

A significant challenge for the growth of the asset integrity management market is the high upfront costs associated with implementing advanced technologies and systems, particularly in offshore and deepwater projects. These investments are often seen as a barrier for smaller companies or those operating on tight budgets.

Companies are adopting cost-effective solutions such as cloud-based platforms for real-time monitoring and predictive maintenance, reducing the need for heavy infrastructure investments. Additionally, several companies are turning to data analytics and AI-driven tools to enhance efficiency and minimize the need for frequent on-site inspections, thereby lowering operational costs.

Market Trend

Increasing Investments in Smart Industrial Technologies

The integration of digital technologies such as AI, IoT, and predictive analytics is enhancing the effectiveness of asset integrity systems. The market is registering significant growth as industries move toward digital transformation for real-time decision-making, proactive maintenance, and cost optimization.

These technologies allow for accurate detection of anomalies, improved inspection efficiency, and reduced human intervention, aligning with the strategic goals of operational excellence and sustainable performance.

• In December 2024, the Confederation of Indian Industry (CII) reported that India's manufacturing sector plans to allocate 11–15% of its budget over the next two years toward the adoption of smart technologies aimed at accelerating digital transformation. Investment growth is anticipated in key areas such as the Internet of Things (IoT), robotics, and Big Data. High-capital industries, including aerospace, automotive, and power, are at the forefront of this technological shift, driving large-scale implementation of advanced digital solutions.

Asset Integrity Management Market Report Snapshot

Segmentation	Details
By Service Type	Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Structural Integrity Management, Others
By End-Use	Oil and Gas, Power, Mining, Aerospace, Others
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, U.A.E., Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation:

• By Service Type (Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Structural Integrity Management, and Others): The non-destructive testing (NDT) segment earned USD 8.79 billion in 2023, due to its ability to provide accurate, cost-effective, and safe inspection methods that minimize asset downtime.
• By End-Use (Oil and Gas, Power, Mining, and Aerospace): The oil and gas segment held 37.62% share of the market in 2023, due to the critical need for ensuring the reliability and safety of high-value infrastructure in exploration, production, and transportation.

Asset Integrity Management Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America .

North America accounted for 36.44% share of the asset integrity management market in 2023, with a valuation of USD 8.51 billion. Leading industries in North America are rapidly embracing digital twin technologies and AI-driven predictive analytics for asset condition monitoring and performance optimization.

This shift is being supported by a highly developed IT infrastructure and strong R&D investments from both private firms and federal agencies. The integration of real-time data platforms and AI tools into asset integrity management is creating a competitive advantage and contributing significantly to the expansion of the market.

Moreover, with the growth of shale gas exploration and cross-border pipeline developments, North America is registering a notable expansion in the market.

According to the U.S. Energy Information Administration, since 2023, pipeline operators in the U.S. have finalized four new petroleum liquids pipeline projects, comprising three dedicated to crude oil and one focused on hydrocarbon gas liquids (HGL). The complexity and high value of these assets are driving continuous demand for advanced integrity services to ensure safety, compliance, and uninterrupted operations.

The asset integrity management industry in Asia Pacific is poised for significant growth at a robust CAGR of 7.03% over the forecast period. Asia Pacific has emerged as a global manufacturing hub, with extensive infrastructure development across process industries such as cement, steel, fertilizers, and electronics.

The rising complexity of machinery and production assets is prompting greater adoption of integrity-focused lifecycle management systems, boosting the market.

Furthermore, ongoing development in offshore exploration blocks across the coastlines in Asia Pacific has accelerated the need for robust subsea asset management, accelerating the growth of the market. Harsh marine environments, structural complexities, and remote operations demand specialized integrity solutions such as ROV-based inspections, fatigue life assessments, and subsea corrosion control.

• In January 2025, Malaysia’s state-owned energy company, Petroliam Nasional Berhad (Petronas), unveiled plans to enhance national oil & gas production through a series of strategic projects. The company targets drilling 69 development wells in 2025, an increase from 56 in 2024. Over the next two years, around 15 exploration wells are expected annually, focusing on both shallow and deepwater areas. In total, more than 400 wells are planned, alongside 39 upstream projects, including three offshore central processing platforms.

Regulatory Frameworks

• The U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) oversees pipeline safety regulations. PHMSA has established Integrity Management Programs (IMPs) for both gas transmission and distribution pipelines, as outlined in 49 CFR Parts 192 and 195. These regulations mandate operators to develop and implement comprehensive IMPs to ensure the safety and integrity of their pipeline systems.
• The European Union's Pressure Equipment Directive (PED) 2014/68/EU sets out the standards for the design, manufacture, and conformity assessment of pressure equipment. This directive ensures that pressure equipment within the EU meets essential safety requirements. Additionally, the Seveso III Directive (2012/18/EU) focuses on the control of major accident hazards involving dangerous substances, emphasizing the importance of asset integrity in preventing industrial accidents.
• The Australian Energy Regulator (AER) and the Australian Energy Market Operator (AEMO) oversee the energy sector's regulatory framework. Asset integrity management practices are guided by standards such as AS/NZS ISO 55001, which outlines requirements for asset management systems. These standards emphasize the importance of systematic asset management to ensure reliability and safety.

Competitive Landscape:

Market players are increasingly focusing on strategic partnerships and collaborative efforts to enhance their asset integrity management offerings, a move that is strengthening their market positioning and expanding solution capabilities.

These alliances are enabling companies to integrate specialized expertise and advanced software functionalities, streamlining deployment and improving overall asset performance outcomes. Such strategic moves reflect a broader industry trend toward aligning software platforms with domain-specific consulting services, allowing end users to extract greater value from asset integrity systems.

• In February 2024, Cenosco, an asset integrity software provider formed a strategic alliance with MaxGrip, a consultancy firm focused on asset performance management. The collaboration aims to enhance asset integrity management capabilities by integrating Cenosco’s IMS Suite with MaxGrip’s expertise in asset performance, change management, and integrity advisory services. This partnership will allow IMS Suite users to gain access to MaxGrip’s deep industry insights and hands-on experience in deploying and optimizing the software.

List of Key Companies in Asset Integrity Management Market:

• SGS Société Générale de Surveillance SA
• Antea
• Intertek Group plc
• TechnipFMC plc
• Aker Solutions ASA
• MaxGrip
• DNV AS
• John Wood Group PLC
• Oceaneering International, Inc.
• Fluor Corporation
• Baker Hughes Company
• TÜV SÜD AG
• LifeTech Engineering Ltd
• Metegrity Inc.
• FORCE Technology

Recent Developments (Partnerships/Collaborations)

• In October 2023, Antea partnered with Team Industrial to deliver a unified asset integrity management solution for asset-intensive industries such as oil & gas, petrochemicals, aerospace, and power. The collaboration merges Antea’s digital software with TEAM’s asset integrity services, creating a comprehensive offering that enhances operational efficiency. This joint solution is designed to improve data-driven decision-making by providing deeper insights and streamlined support across the entire asset lifecycle.
• In March 2024, Oceaneering International formed a collaboration with Global Design Innovation (GDi) to offer digital asset management solutions tailored for sectors like oil & gas, utilities, and power generation. Under the agreement, Oceaneering will adopt GDi’s Vision software to enhance inspection efficiency. The technology enables remote evaluation of external asset conditions, significantly reducing the need for regular on-site inspections and supporting safer, more efficient maintenance practices.