Press release
Infrastructure Monitoring Market is Projected to Reach $9.66 Billion by 2028 with 12.4% CAGR over Forecast Period 2024-2033
Infrastructure Monitoring Market Report
The Business Research Company offers in-depth market insights through Infrastructure Monitoring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The infrastructure monitoring market size has grown rapidly in recent years. It will grow from $5.41 billion in 2023 to $6.04 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to aging infrastructure, government investment, natural disaster preparedness, urbanization trends, and transportation network expansion.
The infrastructure monitoring market size is expected to see rapid growth in the next few years. It will grow to $9.66 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to climate change impact, remote monitoring solutions, resilience planning, smart city development, and public-private partnerships. Major trends in the forecast period include wireless sensor networks for smart infrastructure, blockchain for data security and transparency, integration of augmented reality (AR) and virtual reality (VR), focus on environmental monitoring, and collaboration between public and private sectors.
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Market Segmentation:
The infrastructure monitoring market covered in this report is segmented -
1) By Component: Software, Hardware, Services
2) By Technology: Wired, Wireless
3) By Application: Corrosion Monitoring, Damage Detection, Hotspot Monitoring, Impact Monitoring, Multimodal Sensing, State Sensing, Strain Monitoring, Structural Health Monitoring And Non-Destructive Testing
4) By End-User Industry: Mining, Aerospace And Defense, Civil Infrastructure, Energy, Other End-User Industries
Major Driver - Meeting The Growing Demand For Public Infrastructure Safety And Sustainability
The growing demand for public infrastructure is expected to propel the growth of the infrastructure monitoring market going forward. Public infrastructure refers to infrastructure systems, buildings and facilities that are created, owned and maintained by the government and are accessible to the general public. Infrastructure monitoring is used in public infrastructure for inspection and maintenance of infrastructure, monitoring of the environment, emergency rescue and others to prevent accidents and major losses if accidents take place, where it uses real-time data collection, storage and analysis to enhance the safety of the structures. For instance, in June 2022, according to the Department of Transport's report, a UK-based government department for transportation, the UK government invests over £160 million ($192.7 million) to level up infrastructure to support local communities and four projects across England to reduce congestion and generate £659.3 million ($794.1 million) in economic benefits. Furthermore, in August 2022, the US Department of Transportation, a US-based executive department for transportation, announced an investment of more than $2.2 billion for modernized roads, bridges, transit, rail, ports and intermodal transportation under Rebuilding American Infrastructure with Sustainability and Equity (RAISE) program to help urban and rural communities. Therefore, the growing demand for public infrastructure is driving the growth of the infrastructure monitoring market.
Competitive Landscape:
Major companies operating in the infrastructure monitoring market report are Broadcom Inc., Splunk Inc., Datadog Inc., National Instruments Corporation, MISTRAS Group Inc., AppDynamics Inc., ScienceLogic Inc., Pure Technologies Limited, Campbell Scientific Inc., RST Instruments Ltd., Kinemetrics Inc., Set Point Technologies Ltd., Bridge Diagnostics Inc., Netmagic Solutions Private Limited, CapaSystems A/S, Geocomp Corporation, Hottinger Brüel & Kjaer GmbH, Geokon Incorporated, Zenoss Inc., Sixense Group Inc., Nagios Enterprises LLC, Acellent Technologies Inc., Sisgeo Srl, Geomotion (Singapore) Pte. Ltd., FEAC Engineering Srl, Infibra Technologies Srl., Nova Metrix LLC, Structural Monitoring Systems PLC., AVT Reliability Ltd., ITRS Group Ltd.
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Top Trend - Sandhata Technologies And Dynatrace Forge Strategic Partnership For Enhanced Infrastructure Monitoring And Customer Analysis
Major companies operating in the retail media network market are adopting a strategic partnership approach to enhance the platform for self-service analysis capabilities and monitoring of their customers. Strategic partnerships are collaborative arrangements between two or more organizations that combine resources and expertise to achieve mutually beneficial goals. For instance, in March 2023, Sandhata Technologies Ltd., a UK-based technology company, partnered with Dynatrace LLC, a US-based software intelligence firm. With this partnership, these companies aim to deliver an automated infrastructure monitoring solution with Dynatrace dashboards, which will provide a user-friendly experience for the users as well as ALERTS functionalities. The monitoring dashboards will include easy access to a log view with all search functionalities, a one-stop-shop for all application data, enabling immediate self-service analysis, and connecting details for each service in one place.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Infrastructure Monitoring Market Characteristics
3. Infrastructure Monitoring Market Trends And Strategies
4. Infrastructure Monitoring Market - Macro Economic Scenario
5. Infrastructure Monitoring Market Size And Growth
…..
27. Infrastructure Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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