Infrastructure Monitoring Market By 2024 Key Players are Structural Monitoring Systems, Sixense, Geomotion Singapore, RST Instruments, Campbell Scientific, Acellent Technologies, Cowi, Geocomp Corporation, Digitexx Data Systems

Market Overview: -

Infrastructure Monitoring Market set to grow at a fast rate owing to the aging infrastructure in various economies and the rising awareness about the refurbishment of the existing structure. Effective structural examination helps in enabling data-driven decisions and insights. It improves productivity and aids in early problem detection to avoid disasters. Failure of structures leads to loss of lives and leads to high costs. Structure administration enables the operator to efficiently capture the data required to understand the status of the structure and effectively implement further steps. Increasing requirements to enhance the safety standards, ensure longer lifespan of structure, and reduce the overall maintenance costs are the major factors driving the infrastructure monitoring market over the forecast timespan.

Growing trend toward building smart cities and refurbishing the existing IT & telecommunication structure is anticipated to drive the infrastructure monitoring market over the forecast timespan. Rising labor costs in countries including China have led to an increase in the demand for automated inspection and scrutinizing systems. Government initiatives, such as Digital India, are further providing a boost to the industry.

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Top Key Players: -

Key players in the infrastructure monitoring market include Structural Monitoring Systems Ltd., Sixense, Geomotion Singapore, RST Instruments Ltd., Campbell Scientific, Inc., Acellent Technologies, Inc., Cowi, Geocomp Corporation, and Digitexx Data Systems, Inc. In June 2017, Acellent Technologies, Inc. announced a strategic collaboration with Testia GmbH, through a Memorandum of Understanding (MOU) with an aim to commercialize, market and install the structural health mapping solutions by Acellent. Increasing competition among major players to offer advanced solutions is driving the infrastructure monitoring market.

Market share calculation in this report is not done based on companies covered in it. The calculation of infrastructure monitoring market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentation: -

Infrastructure monitoring market is expected to grow owing to increasing applications in mining, energy, aerospace & defense, civil, transportation, marine, automotive, and industrial machinery industries. The civil segment is anticipated to dominate the industry over the coming years. Increasing occurrences of structural failure and accidents along with the growing importance of large civil projects are projected to drive the industry growth. Countries including Japan, India, the UK, and the U.S. are investing in constructing critical infrastructural facilities such as dams, highways, tunnels, bridges and residential & commercial buildings for economic development. This is expected to fuel the infrastructure monitoring market growth over the forecast timespan.

The infrastructure monitoring market in the Americas is anticipated to grow at a high rate owing to the tendency of early adoption of the latest advanced technologies in the region. Increasing government investments in the U.S., Brazil, and Canada to renovate the existing structures and undertake new construction projects are expected to boost the infrastructure monitoring market growth in the region. Asia Pacific is also projected to witness a high growth due to the rapid urbanization in economies including Japan, China, and India. The Cross-Ministerial Strategic Innovation Promotion Program (SIP) is undertaken by the government of Japan, which includes infrastructure maintenance, renovation, and management program. The program aims at incorporating these systems to ensure predictive maintenance of infrastructure.

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nfrastructure monitoring market is segmented into wired and wireless. The wireless segment is projected to grow significantly owing to the ease of maintenance offered by wireless systems. Wired systems are susceptible to wear & tear and climatic changes. They also increase the overall maintenance costs owing to the amount of hardware used. The wired segment is predicted to grow at a steady rate over the forecast timespan. Wired systems are already implemented in many existing structures and replacing them with entirely new wireless systems can be technically difficult, thus propelling the demand for wired systems.

The infrastructure monitoring market is segmented into hardware, software, and services. The software segment is projected to a higher rate over the coming years. The industry is characterized by the generation of large amount of data, which must be efficiently processed, stored and analyzed. Sophisticated software platforms enable efficient data processing with increased immunity to security breaches. The hardware segment is expected to grow owing to the involvement of hardware components in the system to measure the physical properties of the structure.

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