Infrastructure Monitoring Market Worth 2.47 Billion USD by 2020
PUNE, India, January 25, 2016 /PRNewswire/ --
According to a new market research report "Infrastructure Monitoring Market by Technology (Wired and Wireless), Components, Application (Damage Detection and Others), End-User (Civil, Aerospace, Defense, Energy, Mining, and Others), and Geography - Global Trends & Forecast to 2020", published by MarketsandMarkets, the total market is expected to reach $2.47 Billion USD by 2020, at a CAGR of 26.3 % during the forecast period.
Browse more than 75 market data Tables with 74 Figures spread through 160 Pages and in-depth TOC on "Infrastructure Monitoring Market"
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Increasing need of safety and reliability as well as the aging infrastructure are factors that drive the Infrastructure monitoring market.
Civil infrastructure is expected to lead the Infrastructure Monitoring for end users.
The growing demand for infrastructure monitoring in civil infrastructure, worldwide is one of the key drivers of the market. To continue the growth of a country's economy, it is essential to monitor the health condition of the civil infrastructure and take necessary actions to avoid accidents. IHM has the ability to provide real-time monitoring solutions of civil structures, while reducing the maintenance cost.
Wireless technology is expected to exhibit high growth rate in the market for Infrastructure Monitoring.
There is a growing demand for wireless technology in the Infrastructure Monitoring Market. Wireless infrastructure monitoring has emerged as a technology that would significantly influence the field of infrastructure asset management and structural monitoring.
The market in APAC is expected to grow at the highest CAGR during the forecast period.
The market in APAC is expected to grow at high CAGR between 2015 and 2020 because of the rapid infrastructure development. Major driving factors include government regulatory bodies, large number of infrastructure construction projects, and natural calamities which create the need for IHM. China and Japan are the leading countries in the infrastructure monitoring market in this region.
The report analyzes the market trends for each of the segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter's five forces analysis, value chain analysis with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the growth of the infrastructure monitoring market. The report also provides a qualitative and quantitative description of the verticals considered for the market. It also gives a detailed view of the market across four geographic regions: the Americas, Europe, APAC, and RoW. The Americas is the largest market, while APAC has been identified as the fastest-growing market, globally.
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The report also profiles the most promising players in the infrastructure monitoring market. The key players in the market are COWI A/S(Denmark), AVTECH Software, Inc. (U.S.), Acellent Technologies Inc.(U.S.), Geocomp Corp.(U.S.), Nova Metrix LLC (U.S.), Advitam Group (France), Geokon, Inc. (U.S.), Pure Technologies (Canada), Strainstall UK Ltd. (U.K.), Airbus Group (Netherlands), Structural Monitoring Systems Plc. (U.K.), Digitexx Data Systems, Inc. (U.S.), and BAE Systems ( U.K.).
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