Press release
North American IoT Market in Structure Monitoring to Cross $71.9 Billion by 2022
IoT market in structure monitoring is expected to reach $235.3 billion by 2022, growing at a CAGR 24.2% between 2017-2022. The rising need among the government authorities and real estate professionals to assess structure such as hospitals, airports, control centers and fire stations in case of major catastrophic events such as earthquake, volcanoes, is one among the prime growth factors of the global IoT market in structure monitoring. The growing dependence on wireless devices to communicate data for structure monitoring in buildings, bridges and dams in developing countries is driving the growth of the global market. The adoption of connected devices has also benefited the market as it offers data synchronization from different location of the structure in a time bound manner.In terms of applications, IoT market in structure monitoring is categorized into building, bridges and others. Other applications of the market for IoT in structure monitoring include tunnels, wind energy plant, gas & oil pipeline and oil rigs. The building sector accounted for the majority share of the global IoT market in structure monitoring. The governments in the developing countries are investing huge in the digital infrastructure. During the forecast period, the market in corporate/commercial sector is expected to witness the fastest growth in infrastructure. The demand from residential sector is expected to see steady growth during the forecast period, owing to the growth in wireless communication infrastructure in developing countries.
Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/iot-market-in-structure-monitoring
Rapid expansion in infrastructure coupled with rising awareness towards damage detection beforehand is fueling the demand for structure monitoring. Decline in price of devices used to check the infrastructure health, is further aggravating the IoT market in structure monitoring. Earlier, in developing countries, infrastructure companies had budget constraint as a result of which manual inspection of structure was performed. However, in the present context, with the lowering down of cost and increased availability of sensors, is bolstering the market for IoT in structure monitoring. Furthermore, minimal maintenance cost of the monitoring system is encouraging the infrastructure companies to adopt such solutions.
The IoT market in North America is expected to cross $71.9 billion by 2022, growing at a CAGR of 20.8%. The U.S. has been the largest contributor to the North American IoT market in structure monitoring. The developing infrastructure, specifically commercial and residential buildings coupled with the need to keep a constant check for space management and zero carbon emission will play a major role in the growth of IoT market in the country. The market is expected to grow at a CAGR of 20.4% during 2017–2022. The major players operating in the North American IoT market includes ABB Ltd., Honeywell International Inc., Johnson Control Inc., and Cisco. Among the application areas, buildings remain the largest end-user of IoT market in North America. The large capital investment in infrastructure is expected to drive the growth of the North American IoT market in structure monitoring, during the forecast period.
Download Free Report Sample At: https://www.psmarketresearch.com/market-analysis/iot-market-in-structure-monitoring/report-sample
The global IoT market in structure monitoring was consolidated in 2016, wherein the top five players accounted for majority of the market revenue. Johnson Control Inc. was the global market leader in 2016, while the other major companies operating in this market are Cisco Systems Inc., IBM Corporation, General Electric, Honeywell International Inc, Schneider Electric SE, ABB Ltd, and Delta Control Inc.
About P&S Market Research
P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports; business intelligence and research based consulting services across a range of industries.
With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY – 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Google + | Facebook
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release North American IoT Market in Structure Monitoring to Cross $71.9 Billion by 2022 here
News-ID: 1056135 • Views: …
More Releases from PS Market Research

Cost Efficiency and Value Enhancement Offered by Service Integration and Managem …
Service integration and management market is expected to reach $57.6 billion by 2023, The major factors responsible for the high growth of the market are cost reduction and value enhancement, and service quality enhancement leading to process efficiency. Improvement in service quality leads to smoother flow of end-to-end processes, which include maintaining coordination between the customer organization and service providers and enabling the customer organization to easily switch between the…

Increase in Smartphone Penetration and Advancement in Internet Connectivity are …
Global augmented reality and virtual reality market is expected to reach $94.4 billion by 2023. Increase in smartphone penetration, and advancement in internet connectivity and computer technology are the major factors driving the growth of the market.
Explore Full Report Description At: https://www.psmarketresearch.com/press-release/augmented-reality-and-virtual-reality-market
On the basis of device type, the augmented reality and virtual reality market is categorized into AR devices and VR devices. Of the two, VR devices recorded larger share…

Major Growth Drivers for Global Encryption Software Market is the Increased Data …
Software-based encryption uses software to encrypt and decrypt data-at-rest as well as data-in-transit. By rendering the unreadable data for unauthorized people, encryption software ensures the security and safety of the confidential data stored in files, folders or disks. Under the encryption process, plain text is converted into a coded message or cipher texts, thus restricting their access only to the authorized parties. The data travelling over wireless networks can be…

Need to Reduce Operational Cost is One of the Major Growth Drivers for Global Ma …
The expansion of cellular networks, terrestrial networks, satellite and coverage, and IP revolution in several regions has improved significantly. Ship owners, crew, managers, and officers need cost-effective communications that are easy to maintain, simple to operate, and function seamlessly around the world. Maritime VSAT facilitate real time internet broadband connectivity on a moving ship in sea for the convenience of these people.
Explore Full Report Description At: https://www.psmarketresearch.com/market-analysis/maritime-vsat-market
The maritime VSAT market…
More Releases for IoT
IOT Adoption Drives IoT insurance Market Growth: Pivotal Factor Influencing IoT …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
IoT Insurance Market Size Growth Forecast: What to Expect by 2025?
The market size of Internet of Things (IoT) insurance has seen an explosive growth in the past few years. It is projected to rise from $100.02 billion in 2024 to a staggering $153.89 billion in 2025, experiencing a compound annual growth rate (CAGR)…
IOT Adoption Drives IoT insurance Market Growth: Key Factor Driving The Growth I …
The IoT Insurance Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Current IoT Insurance Market Size and Its Estimated Growth Rate?
In the past few years, the size of the IoT insurance market has seen exceptional expansion. Its growth is projected to continue,…
Narrowband-IoT Market Transforming IoT Connectivity for Low-Power Applications
Over the past few years, the global Narrowband-IoT Market has undergone a transformative evolution, driven by shifting consumer preferences, groundbreaking technological innovations, and an increasing focus on sustainability. This dynamic landscape reflects not just growth but a redefinition of market priorities, making it an exciting arena for stakeholders. The latest research report delves deep into these trends, offering forward-looking insights into growth drivers and challenges. With a strategic focus…
Narrowband IoT (NB-IoT) Market Advancements in NB-IoT Connectivity Management Pl …
Numerous factor such as due to rapid development in IoT industry and rising demand of new cellular communication technology which are integrated to IoT low power wide area applications drives the growth of the market globally. moreover, increasing demand for navigation, telematics and in-car infotainment services in automotive & transportation industry is fueling the market of NB-IoT globally. However, licensing costs of NB-IoT are hindering the growth of narrowband-…
IoT Edge Computing Software Market 2023 | SAS, IBM, EdgeIQ, AWS, Azure IoT Edge, …
Market Overview -
The information made available in the IoT Edge Computing Software report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work, in-depth interviewing, or…
According to the Latest Report: IoT Service Provider Market Is Expected Signifi …
The latest competent intelligence report published by WMR with the title “An increase in demand and Opportunities for Global IoT Service Provider Market 2022” provides a sorted image of the IoT Service Provider industry by analysis of research and information collected from various sources that have the ability to help the decision-makers in the worldwide market to play a significant role in making a gradual impact on the global economy.…