PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401397
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401397
Global Infrastructure Monitoring Market is valued at approximately USD 4.51 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11% over the forecast period 2023-2030. 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.
The growing global population and urbanization drive the need for new infrastructure development and expansion of existing infrastructure. Monitoring these infrastructure projects ensures their reliability, safety, and compliance with standards, contributing to sustainable urban development. According to the World Bank based on data from the UN Population Division, the global urban population in 2020 was 4.36 billion and estimated to reach approx. 7.0 billion by the end of 2050. Urbanization drives construction activities for new buildings, roads, and other infrastructure projects. Infrastructure monitoring solutions are essential during the construction phase to ensure compliance with safety standards and regulations. According to Statista, in year 2019 Construction industry spending worldwide stood at USD 12 trillion which increased to USD 12.9 trillion in year 2021 and it is projected to reach USD 19.2 trillion by year 2035. Moreover, once these projects are completed, continuous monitoring becomes crucial for their long-term sustainability. Thus, rising urban population fueling the growth of Infrastructure Monitoring Market. 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.
The key regions considered for the Global Infrastructure Monitoring Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. 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 objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable