With the emergence and long-term Impact of COVID-19, Global Infrastructure Monitoring Market to reach USD 10.04 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Infrastructure Monitoring Market is poised to raise up to USD 10.4 Billion by 2030. The Infrastructure Monitoring Market refers to the industry that provides solutions and technologies for monitoring and analyzing the condition, performance, and integrity of various types of infrastructure, including buildings, bridges, dams, pipelines, and transportation systems, to ensure their safety, efficiency, and longevity. The Infrastructure Monitoring Market is being driven by factors such as increasing urbanization & infrastructure and technology advancement in sensor technology. In addition to smart cities & IoT integration and rising demand for remote monitoring create lucrative opportunities for the market. However, the high implementation and maintenance costs hinder the market growth throughout the forecast period of 2023-2030.
Geographically, the global Infrastructure Monitoring market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the advanced infrastructure networks. North America has well-developed infrastructure networks, including transportation systems, utilities, buildings, and industrial facilities and investing heavily in smart city building. Asia Pacific is considered the fastest growing region during the forecast period due to rapid urbanization and significant infrastructure development, driven by population growth, economic expansion, and industrialization in the region.
The global Infrastructure Monitoring market is highly competitive owing to the presence of several key manufacturers such as Acellent Technologies, Inc.. Emerson Electric Co., Digitex Systems Ltd, Campbell Scientific, Inc., National Instruments Corporation, Honeywell International Inc. and others.
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Key findings of the study suggest:
- Global Infrastructure Monitoring Market is anticipated to grow with a healthy growth rate of more than 11% over the forecast period 2023-2030.
- In the Component segment, Hardware emerged out as the leading market segment in 2022.
- In the Technology segment, Wired emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the advanced infrastructure networks. North America has well-developed infrastructure networks, including transportation systems, utilities, buildings, and industrial facilities and investing heavily in smart city building.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Component:
- Hardware
- Software
- Services
Technology:
- Wired
- Wireless
Application:
- Corrosion Monitoring
- Crack Detection
- Damage Detection
- Vibration Monitoring
- Thermal Monitoring
- Multimodal Sensing
- Strain Monitoring
- Others
Vertical:
- Oil & Gas
- Manufacturing
- Aerospace and Defense
- Construction
- Automotive
- Power Generation
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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