Geotechnical Instrumentation and Monitoring Market Worth 4.64 Billion USD by 2022
PUNE, India, May 5, 2017 /PRNewswire/ --
The report "Geotechnical Instrumentation and Monitoring Market by Offering (Hardware & Software, Services), Technology (Wired, Wireless), Structure (Tunnels & Bridges, Buildings & Utilities, Dams), End user, and Region - Global Forecast to 2022", published by MarketsandMarkets™, is estimated to be valued at USD 4.64 Billion by 2022, and is projected to grow at a CAGR of 11.37% between 2017 and 2022.
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Browse 63 market data Tables and 75 Figures spread through 175 Pages and in-depth TOC on "Geotechnical Instrumentation and Monitoring Market"
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The growth of the geotechnical instrumentation and monitoring market can be attributed to the awareness about the benefits of geotechnical instrumentation and monitoring and stringent government regulations for its implementation. The rising number of infrastructure projects across the globe is driving the market growth, as geotechnical instrumentation and monitoring is planned to be implemented in almost every critical structure to adhere to safety regulations.
"The service segment is expected to lead the geotechnical instrumentation and monitoring market during the forecast period"
Among offerings, the service segment is projected to grow at the highest rate between 2017 and 2022. This is primarily due to the presence of a large number of companies offering geotechnical instrumentation and monitoring solutions and equipment for geotechnical projects. In addition, geotechnical instruments, once purchased, can be used in multiple projects or offered on rent, due to which the service segment has a larger market, and is expected to grow at the highest rate during the forecast period.
"The tunnels & bridges segment of the geotechnical instrumentation and monitoring market is expected to grow at the highest rate between 2017 and 2022"
Among structures, the tunnels & bridges segment is estimated to be the fastest-growing segment in the geotechnical instrumentation and monitoring market during the forecast period. Tunnels and bridges enable people to travel from one place to other, hence, the construction of these structures has always been in demand and is expected to continue in future as well. In addition, the upcoming projects of metro lines and subways in different parts of the world act as a major driving factor for the market.
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"The Americas is estimated to hold the largest share of the geotechnical instrumentation and monitoring market by 2022"
The Americas is estimated to have the largest share of the geotechnical instrumentation and monitoring market by 2022. The major reason for this large market share is the high number of projects that are implementing geotechnical instrumentation and monitoring solutions in the region. The Americas has always been the leader in implementing this technology and is very particular about the safety of its structures.
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Major players in the geotechnical instrumentation and monitoring market are Fugro N.V. (Netherlands), Keller Group plc (U.K.), Geokon, Incorporated (U.S.), Durham Geo Slope Indicator, Inc. (U.S.), Nova Metrix LLC (U.S.), Geocomp Corporation (U.S.), and Sisgeo Srl (Italy).
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