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Infrastructure Monitoring Market Worth 3.38 Billion USD by 2023


News provided by

MarketsandMarkets

23 Jan, 2018, 13:30 GMT

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PUNE, India, January 23, 2018 /PRNewswire/ --

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The report "Infrastructure Monitoring Market by Technology (Wired and Wireless), Offering (Hardware: Sensors, Data Acquisition Systems; Software & Services), Vertical (Civil infrastructure, Energy), Application, and Geography - Global Forecast to 2023", published by  MarketsandMarkets™, the market is estimated to grow from USD 1.48 Billion in 2018 to USD 3.38 Billion by 2023, at a CAGR of 17.93% between 2018 and 2023. The major factors driving the growth of the infrastructure monitoring market include catastrophic failure of the infrastructure that results in loss of lives and incurs higher costs, stringent government regulations pertaining to the sustainability of structures, and aging infrastructures and the superior benefits of infrastructure monitoring.

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Browse 71 market data Tables and 45 Figures spread through 178 Pages and in-depth TOC on "Infrastructure Monitoring Market - Global Forecast to 2023"


https://www.marketsandmarkets.com/Market-Reports/infrastructure-monitoring-market-251897013.html

Early buyers will receive 10% customization on this report 

The civil infrastructure segment expected to hold the largest share of the infrastructure monitoring market by 2023 

The civil infrastructure facilities include numerous critical structures such as bridges, dams, tunnels, highways, and buildings. All these structures are directly related to the overall demographic and economic growth of any country. Therefore, many governments are taking initiatives to monitor the overall health of the structure. Also, at present, major countries in different regions such as the US, the UK, Germany, Japan, China, India, Qatar, and Saudi Arabia are heavily investing in building new infrastructural facilities, thereby ultimately growing the economy of the country. For such increasing infrastructure facilities, there would be growing opportunities for the infrastructure monitoring market players.

The market for software and services expected to grow at a higher rate between 2018 and 2023 

With the increasing importance of large civil projects and frequent occurrences of structural failure, infrastructure monitoring systems are becoming more and more crucial. The basic approach of any infrastructure monitoring system is to continuously collect the data (over the longer period of time) about the overall condition of the structure from various installed sensors. This sensory data includes loading, stress, strain, acceleration, temperature, and video signal, among others. Furthermore, it is challenging for structural engineers to obtain, process, store, and analyze such a huge volume of data. To resolve this challenge, the software platform, customized software application, and software algorithm are being adopted. For example, software such as MATLAB and SCADA play a crucial role in early damage detection; they determine the damages at an early stage and facilitate necessary repair to maintain a high level of safety.

Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=251897013

Americas expected to hold the largest share of the infrastructure monitoring market by 2023 

The increased use of monitoring systems in the US is a key factor behind the market growth in the Americas. The governments of the South and North American countries are taking initiatives for the adoption of monitoring systems for different applications. Aging infrastructure in the US and fast-growing infrastructure facilities in Brazil and Canada are driving the market in this region.

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Some of the major players in the infrastructure monitoring market are COWI (Denmark), Pure Technologies (Canada), Structural Monitoring Systems (Australia), Acellent (US), Geocomp (US), Campbell Scientific (US), Nova Metrix (US), Geokon (US), SIXENSE (France), Digitexx (US), Bridge Diagnostics (US), Sisgeo (Italy), RST Instruments (Canada), AVT Reliability (UK), and Geomotion Singapore (Singapore).

Browse Related Reports 

Structural Health Monitoring Market by Solutions (Hardware: Sensors, Data Acquisition System; Software & Services), Technology (Wired and Wireless), End Users and Geography - Global Forecast to 2022

https://www.marketsandmarkets.com/Market-Reports/structural-health-monitoring-market-101431220.html

Vibration Monitoring Market by Component (Hardware, Software, and Services), System Type (Embedded Systems, Vibration Analyzers, and Vibration Meters), Monitoring Process (Online and Portable), Industry, and Geography - Global Forecast to 2023

https://www.marketsandmarkets.com/Market-Reports/vibration-monitoring-market-29273491.html

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About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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