Global $235 Billion IoT Market in Structure Monitoring 2017-2022 - Integration of Complex IOT Hardware and Software
DUBLIN, November 17, 2017 /PRNewswire/ --
The "IoT Market in Structure Monitoring by Solution: Analysis and Forecast 2022" report has been added to Research and Markets' offering.
The global IoT market in structure monitoring is expected to reach a size of $235.3 billion by 2022, growing at a CAGR of 24.2% during 2017 - 2022.
With the rising incidence of natural calamity and disasters, the earthquake monitoring system is anticipated to witness the fastest growth during the forecast period. Also, the rising number of vehicles are putting tremendous pressure on the existing and upcoming infrastructures to accommodate the ever-growing vehicles, which depicts the need of effective parking management system through IoT. Among various application areas, the IoT in structure monitoring is getting widely adopted in commercial buildings and bridges to keep a constant check during pre-construction and post-construction phases for increasing the lifespan of infrastructures.
The adoption of automated structure monitoring is witnessing a rapid growth, owing to government inclination across countries towards the development of smart cities, and rising untoward incidences such as earthquakes and cyclones. The real estate companies utilize IoT in structure monitoring to increase the life of existing structure with minimum maintenance cost and time, which can be sighted as one of the major contributing factors for the growth of IoT market in structure monitoring.
As per the findings of the research, device management for structure monitoring through IoT will witness a robust growth during the forecast period. However, physical security system has been the larger revenue generator in this market, as compared to other solutions offered. Among the various platforms used in IoT for structure monitoring, application management is expected to continue contributing the largest revenue during the forecast period. Also, IoT in structure monitoring will be witnessing fastest growth in demand for applications in bridges, during 2013 - 2016. On the other hand, market for buildings is also expected to show a robust growth during the forecast period.
The market is expected to grow with the fastest rate in Middle East & Africa, during the forecast period. The fast growth is owed to the increasing penetration of IoT in structure monitoring for sky rise buildings, dams, tunnels, and oils & gas plants in MEA. The upsurge in urbanization, along with purposed investment in smart cities in the region, is expected to boost its demand. Some of the skyscraper buildings such as Burj Khalifa, Princess Tower and 23 Marina, have already implemented IoT solutions for structure monitoring to keep the structure safe with minimum cost. The market in Middle East & Africa is expected to witness a double-digit growth during the forecast period.
The demand of physical security is witnessing rapid growth in building surveillance system. Also, increasing urbanization, in addition to the growing penetration of maintenance and repair activities in bridges in developing countries, is expected to bolster the demand of IoT in structure monitoring during the forecast period.
The increasing investment in smart infrastructure by governments across various countries, is one of the prime factors for the growth of the market. The increased investment in access control system, along with large capital funding for safety & alarming system in developing countries, is further assisting the market growth. Recently, the government of India started digital India initiative, under which 100 smart cities will be formed across the country, which will adopt latest technologies for structure monitoring. The government, along with the private sector companies, is expected to invest heavily in improvising infrastructure health in the country, during the next five to six years.
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
4. Introduction
4.1 Market Segmentation
4.1.1 Overview by Solution
4.1.1.1 Physical security system
4.1.1.2 Energy management system
4.1.1.3 Building communication system
4.1.1.4 Earthquake monitoring system
4.1.1.5 Plumbing & water management system
4.1.1.6 Elevators & Escalator management system
4.1.1.7 Parking management system
4.1.2 Overview by Platform
4.1.2.1 Device management
4.1.2.2 Network management
4.1.2.3 Application management
4.1.3 Overview by Component
4.1.3.1 Hardware
4.1.3.2 Services
4.1.3.3 Software
4.1.4 Overview by Application
4.1.4.1 Buildings
4.1.4.2 Bridges
4.1.4.3 Others
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Rising concern for infrastructural protection
4.2.1.2 GROWing demand of smart infrastructure across the globe
4.2.1.3 Low operating cost monitoring system
4.2.1.4 Impact analysis of drivers on market forecast
4.2.2 Restraints
4.2.2.1 High implementation cost
4.2.2.2 Security & privacy of data
4.2.2.3 Impact analysis of restraints on market forecast
4.2.3 Trends
4.2.3.1 Rising investment by government
4.2.4 Opportunities
4.2.4.1 Increased usage of structure monitoring in medical and heritage building
4.2.4.2 Integration of complex IOT hardware and software for structure monitoring
4.3 Porter's Five Forces of Competitive Position Analysis
4.3.1 Bargaining Power of Buyers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Rivalry
5. Market Size and Forecast by Solution
5.1 Physical Security System
5.2 Energy Management System
5.3 Building Communication System
5.4 Earthquake Monitoring System
5.5 Plumbing & Water Management System
5.6 Elevator & Escalator Management System
5.7 Parking Management System
6. Market Size and Forecast by Platform
6.1 Device Management
6.2 Network Management
6.3 Application Management
7. Market Size and Forecast by Component
7.1 Hardware
7.2 Services
7.3 Software
8. Market Size and Forecast by Application
8.1 Buildings
8.2 Bridges
8.3 Others
9. Market Size and Forecast by Geography
10. Competitive Landscape
11. Company Profiles
- Johnson Control, Inc.
- Cisco Systems Inc.
- IBM Corporation
- General Electric
- Honeywell International Inc.
- Schneider Electric SE.
- Accenture Plc
- Siemens AG
- ABB Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/g52jnz/iot_market_in
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