Press release
Bridge Inspection System Market Value Share, Analysis and Segments 2018 to 2026
Bridges are a vital component of a city’s infrastructure and their maintenance and inspection are necessary to effectively manage repairs and ensure sustenance of the systems. Over time, bridges deteriorate due to load and under the influence of various external factors such as wind and rain. With bridge inspection systems, administrations around the world conduct periodic checks of bridges which is crucial to the safety of road users.
While routine inspections involve checking the general serviceability of bridges, in-depth bridge inspections assess the condition of the bridges along with an analysis of the effectiveness of maintenance techniques used in the past and drawing an estimated forecast of the needs required to efficiently manage the structure in the future.
Proliferating Infrastructure Development and Aging Bridges to Uphold Demand
The accelerating growth of population and burgeoning urbanization rates around the world are prompting administrations to intensify bridge construction in order to ensure a smooth and steady flow of traffic in and around a city. With vehicular traffic estimated to witness growth, governments around the world are likely to invest in bridge inspection systems for maintaining the integrity of the bridge structures.
Furthermore, steady growth in the number of old bridge structures is gradually causing authorities to conduct periodic inspections in order to maintain the reliability and serviceability of the systems. According to a survey conducted by the National Bridge Inventory of the USA, there are more than ten thousand bridges which are anticipated to be structurally deficient and require thorough inspections for maintenance. These factors are estimated to fuel the uptake of the systems and bolster bridge inspection systems market growth.
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Data Analytics and Image Processing to aid in Streamlining Bridge Inspection Systems Operations
Advancements in machine learning, artificial intelligence, image processing, and big data are expected to open lucrative opportunities for manufacturers in the bridge inspection system market. Administrative authorities are gradually becoming reluctant in using traditional bridge inspection systems owing to its heavy reliance on human expertise making it prone to manual errors. To capitalize on the growing demand for automation in the bridge inspection market, manufacturers are heavily investing in research and development of solutions which can aid in effectively testing the integrity of bridge structures leveraging the technological innovations. A recent development complementing the growing demand for data analytics and image processing in the bridge inspection system market was the development of a sophisticated Bridge Information Model (BrIM) framework in combination with crack detecting algorithm. The proposed system uses image processing to detect cracks and stores the information in the BrIM framework to enable users to view a 3D model of bridge components. These developments offer an affordable and efficient alternative to traditional systems for effectively managing the structures and are expected to contribute significantly to bridge inspection system market growth.
Drones to Find Widespread Adoption in Bridge Inspection System Market
Drones or unmanned aerial vehicles (UAVs) are finding increasing usage in bridge inspection system market with the devices enabling users in collecting inspection data effectively in substantially less time than the traditional systems. Additionally, the devices aid in surveying hard-to-reach areas of the bridge by capturing high-definition images and visual data of bridge components eliminating the requirement of manual labor in the process. Inspectors are increasingly mounting non-destructive testing equipment to further enhance the data collecting capabilities of the system. Use of data gathered from drones in combination with machine learning algorithms can potentially aid in accurately identifying repair needs for maintenance. These factors are expected to drive the widespread adoption of drones in bridge inspection system market.
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High Cost of Bridge Inspection Equipment to Dampen Market Growth
Although bridges with simple structures can be inspected on foot and using basic equipment, inspection of complex bridge structures require the use of an assortment of tools. Inspectors and authorities may have to recruit diving teams and use watercraft for effective inspection of bridge structures constructed over water bodies. Additionally, checking the underside of bridges may require using under-bridge-inspection-trucks or suspension rigs. The high cost of ownership and maintenance of these equipment coupled with the requirement of skilled labor to operate them is expected to hamper bridge inspection system market growth.
Bridge Inspection System Market – Competitive Landscape
The pervasive trend of drone usage in bridge inspection received a significant boost after the department of transportation of Kentucky and Minnesota leveraged Intel’s drone technology for inspecting the Daniel Carter Beard Bridge and Stone Arch Bridge in 2018.
In order to capitalize on the growing demand for technological solutions in the bridge inspection market, Stantec announced collaboration with Prince Edward Island (PEI) Department of Transportation, Energy, and Infrastructure (TIE) for developing an application which will enable collection of bridge inspection data and store it in Stantec’s proprietary Bridge Management System allowing officials to analyze the data for bridge condition rating and risk analysis.
To extend its presence and network in the bridge inspection market, Versalift/Time Manufacturing acquired Aspen Aerials, a company specializing in the production of aerial lifts used for inspecting the safety and integrity of bridge structures.
Other leading players operating in the bridge inspection market include pitt&sherry, KCI Technologies, AgileAssets Inc., MISTRAS Group, Inc., Bolton Perez & Associates, and Bridge Inspection Systems.
Bridge Inspection System Market: Segmentation
Global bridge inspection system market can be segmented on the basis of offering, type, and region.
Bridge Inspection System Market Segmentation by Offering:
On the basis of offering, the bridge inspection system market can be segmented as:
Solution
Services
Inspection Support
Consulting Services
Installation Services
Managed Services
Bridge Inspection System Market Segmentation by Type:
On the basis of type, the bridge inspection system market can be segmented as:
Bridge Inspection Cranes
Drones
Fishing Pole Mechanism System
Others
Bridge Inspection System Market: Key Players
Some of the key players in the bridge inspection system market are pitt&sherry, Bridge Inspection Systems, Aspen Aerials, Intel Deutschland GmbH (Ascending Technologies), KCI Technologies, AgileAssets Inc., Stantec, MISTRAS Group, Inc., Bolton Perez & Associates, and a few others.
Bridge Inspection System Market: Regional Overview
By geography, the bridge inspection system market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in the Asia Pacific, and Middle East & Africa. Among these regions, North American bridge inspection system market is expected to dominate the global bridge inspection system market during the forecast period, owing to the high adoption of both bridge inspection cranes and portable bridge inspection system, complemented by the presence of the maximum number of bridges in the region. Asia Pacific (including Japan and China) bridge inspection system market and Europe bridge inspection system market are expected to follow North American bridge inspection system market in the global bridge inspection system market, in terms of revenue. SEA and others of APAC bridge inspection system market are, however, expected to exhibit highest growth rate during the forecast period due to the high demand and growth opportunities associated in India for the bridge inspection system market. Besides this, Latin America bridge inspection system market is also expected to witness a significant growth rate during the forecast period, in the global bridge inspection system market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, deployment, component, and end user.
The report covers exhaustive analysis on,
Market Segments
Market Dynamics
Historical Actual Market Size, 2013–2017
Market Size & Forecast, 2018 to 2028
Supply & Demand Value Chain
Current Trends/Issues/Challenges
Competition & Companies Involved
Market Value Chain
Market Drivers and Restraints
Regional analysis for the 3D interactive ticketing solutions market includes,
North America
U.S.
Canada
Latin America
Brazil
Mexico
Argentina
Chile
Peru
Rest of Latin America
Europe
EU – 4 (Germany, France, Italy, Spain)
UK.
BENELUX (Belgium, Netherlands, Luxemburg)
NORDIC (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Rep., etc.)
Rest of Europe
CIS & Russia
Japan
APEJ
Greater China
India
Korea
ASEAN Countries
Rest of APEJ
Middle East & Africa
GCC Countries
Turkey
Iran
Israel
South Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
Detailed overview of the parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current, and projected market size in terms of value
Recent industry trends and developments
Competitive landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint
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