An electric heat tracing system is used to maintain or increase the temperature of pipes and vessels where electric heating elements run in physical contact along the length of pipes or vessels. Electric heat tracing systems are used not only to heat the products and to process temperatures in pipelines or in vessels but also to maintain such temperatures or to avoid a freezing of products."

Visionary leaders are the leading players in the market having a robust service portfolio, a strong market presence, and also effective business strategies. These players have a broad product portfolio which enables to serve most of the regions all over the world. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

Most of the dynamic players are classified as companies which focus on specifically one or two technologies, however, hold a fair position in the market along with a presence in various regions globally. These players have low product offerings with stronger business strategies. The vibration monitoring market has many companies operating since the past decade, which are largely dependent on their competitive R&D activities.

The need for innovative technologies to modernize access control offerings has resulted in innovations in the access control market. Innovators demonstrate substantial product innovations compared with their competitors. These players have wide product portfolios. However, they lack effective growth strategies for their overall business.

Emerging players offer niche products and have gradually started gaining traction in the market. They lack effective business strategies, unlike other established players. These players are mostly the new entrants and require more time to gain market visibility.