NEW YORK, May 16, 2016 /PRNewswire/ -- The infrastructure monitoring market is expected to reach USD 2.47billion by 2020, at a CAGR of 26.3% between 2015 and 2020. Increasing initiatives of governments worldwide toward the rising need for public safety and reliability as well as the aging infrastructure are likely to drive the infrastructural health monitoring market.
"Civil Infrastructure expected to lead the end user segment of the infrastructural health monitoring during the forecast period"
An infrastructure monitoring system plays a key role in the civil infrastructure 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 the real-time monitoring solutions of civil structures such as bridges, tunnels, dams, buildings, and others, while reducing the maintenance cost. In addition, the market for energy is expected to grow at the highest CAGR among all other industries. The growth in these two industries can be attributed to the rising adoption of infrastructural health monitoring systems.
"North America expected to hold the largest market share during the forecast period"
APAC is estimated to be the fastest-growing market till 2020. Civil and energy are major sectors driving the growth of the infrastructure monitoring market in APAC. China and Japan are the leading countries in the infrastructural health monitoring market in this region. Moreover, increasing infrastructure and government initiatives in these countries are likely to drive the market in APAC. Currently, North America holds the largest share of the infrastructural health monitoring market. It is the most technologically-advanced market for infrastructural health monitoring, owing to the high penetration of these systems in this region. The U.S. invests heavily in the civil and aerospace sectors for higher safety.
In the process of determining and verifying the market size for several segments and sub-segments of the infrastructural health monitoring market gathered through the secondary research, extensive primary interviews have been conducted with key people. Break-up of the profiles of primary participants is shown below:
- By Company Type: Tier 1 – 55%, Tier 2 – 20% and Tier 3 – 25%
- By Designation: C level – 60%, Director level – 25%, Others – 15%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
The geographic segmentation in the report covers four major regions of the world: North America, Europe, APAC, and RoW. The report also profiles major players in the infrastructural health monitoring market. Some of the major players in this 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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