Press release
Infrastructure Inspection Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Infrastructure Inspection
How Large Will the Infrastructure Inspection Market Size By 2025?
The market size of infrastructure inspection has seen a consistent growth over the past few years. The market, which is projected to rise from $2.14 billion in 2024 to $2.25 billion in 2025, displayed a Compound Annual Growth Rate (CAGR) of 5.0%. Factors contributing to the growth during the historic period include the aging of infrastructure, regulatory compliances, cost-cutting and efficiency, data analytics and reports as well as environmental considerations.
How Big Is the Infrastructure Inspection Market Size Expected to Grow by 2029?
It is anticipated that the infrastructure inspection market will witness substantial expansion in the coming years, with the market size predicted to reach $3.15 billion by 2029, registering a compound annual growth rate (CAGR) of 8.8%. The surge during the forecasted timeframe can be associated with the advent of remote inspection solutions, a heightened focus on sustainability, cybersecurity awareness, and predictive maintenance solutions. Prominent trends during this period are expected to be advancements in drone technology, technological innovations, improved safety initiatives, and efficiency through automation.
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Which Key Market Drivers Powering Infrastructure Inspection Market Expansion and Growth?
The rise in capital investment aimed at enhancing structural health monitoring to ensure optimal maintenance of crucial infrastructure is anticipated to stimulate the growth of the infrastructure inspection market. Structural health monitoring (SHM) consists of systems installed onto large-scale civil infrastructures to provide assistance and feedback to operators. In order to maintain structural soundness, various structures including ageing bridges, highways, buildings, dams, pylons, tunnels, and others require inspection. For instance, in March 2022, as per a Govtribe report, the US Federal Government extended an opportunity to Engineer Research and Development Centre (ERDC) to pioneer technologies in structural health monitoring with the aim of improving SHM technologies and evaluating the present and prospective condition and reliability of infrastructure components and systems. In the first year, $2 million was set aside, with a cumulative budget of $12 million. This elevation in capital investments for structural health monitoring, thus, fuels the growth of the infrastructure inspection market.
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Which Fast-Growing Trends Are Poised to Disrupt the Infrastructure Inspection Market?
The rise of technological advancements is a primary trend being noticed in the field of infrastructure inspection. Several leading companies are prioritizing the development of novel tech solutions to solidify their stance in the market. To illustrate, Toshiba, a company based in Japan with its operations in infrastructure inspection, formulated Infrastructure Inspection AI in May 2022. This innovation is capable of identifying abnormalities with an unmatched precision from a limited set of reference pictures. Contrary to conventional AI requiring real-world coaching, this technology scrutinizes inspection pictures with reference to pre-established deep learning models. Consequently, Toshiba's signature rectification technology enables this advanced AI to spot abnormalities correctly even when the inspection images don't align with the viewpoint of the reference pictures. This technology further diminishes false positives in recognizing unique patterns that are genuinely typical.
What Are the Emerging Segments in the Infrastructure Inspection Market?
The infrastructure inspectionmarket covered in this report is segmented -
1) By Product Type: Drones Or Unmanned Aerial Vehicles (UAVs), Crawlers, Submersibles
2) By Operation: Autonomous, Semi-Autonomous
3) By Application: Pipes, Tanks And Vessels, Sewers, Roads And Bridges, Underwater Inspection, Wind Turbines, Nuclear Applications, Auxiliary Structures
4) By End-Use: Building And Construction, Oil And Gas, Power Generation, Chemical, Petrochemical, Municipal, General Purpose
Subsegments:
1) By Drones Or Unmanned Aerial Vehicles (UAVs): Fixed-Wing Drones, Rotary-Wing Drones (Quadcopters), Hybrid Drones, Drone Mapping And Surveying Equipment
2) By Crawlers: Tracked Crawlers, Wheeled Crawlers, Remote-Controlled Crawlers, Crawler Inspection Robots
3) By Submersibles: Remotely Operated Vehicles (ROVs), Autonomous Underwater Vehicles (AUVs), Inspection-Class Submersibles, Heavy-Duty Submersibles
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Who Are the Global Leaders in the Infrastructure Inspection Market?
Major companies operating in the infrastructure inspection market include Jacobs Engineering Group Inc., AES Engineering Ltd., Bureau Veritas, Xylem Inc., FLIR Systems Inc., Eddyfi Technologies, Honeybee Robotics, Golder Associates Ltd., ERM Group, MISTRAS Group, Parrot Drone SAS, Lockheed Martin Corporation, Geokon Inc., Northrop Grumman Corporation, Campbell Scientific Inc., Geocomp Corporation, AVT Reliability Ltd., DJI Technology Co. Ltd., Pure Technologies Ltd Company, RAE Systems by Honeywell, Sisgeo S.r.l., Structural Monitoring Systems plc, Acellent Technologies Inc.
Which are the Top Profitable Regional Markets for the Infrastructure Inspection Industry?
North America was the largest region in the infrastructure inspection market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the infrastructure inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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