Infrastructure Monitoring Market size is projected to grow at a fast rate owing to the aging infrastructure in various economies and the rising awareness about the refurbishment of the existing structure.
Sellbyville, DE -- (SBWIRE) -- 01/16/2019 -- The infrastructure monitoring market in the Americas is anticipated to grow at a high rate owing to the tendency of early adoption of the latest advanced technologies in the region. Increasing government investments in the U.S., Brazil, and Canada to renovate the existing structures and undertake new construction projects are expected to boost the infrastructure monitoring market growth in the region. Asia Pacific is also projected to witness a high growth due to the rapid urbanization in economies including Japan, China, and India. The Cross-Ministerial Strategic Innovation Promotion Program (SIP) is undertaken by the government of Japan, which includes infrastructure maintenance, renovation, and management program. The program aims at incorporating these systems to ensure predictive maintenance of infrastructure.
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Declining costs of sensors that are used for construction management have led to the overall reduction in the total expenditure, also boosting the infrastructure monitoring market. Sensors are deployed for measuring the vibration & distortion in pillars, power conservation, and maintaining the structure health through remote assessment. These components are manufactured in large numbers and at very low costs so that these can be embedded into concrete structures. These sensors provide the required data wirelessly. The use of sensors reduces the overall costs incurred from the manual inspection of structures. The advantages offered by sensors and the availability of low-cost sensors are fueling the industry growth.
Latest technological advancements in IoT, connected structures, and sensor systems are providing immense growth opportunities for the infrastructure monitoring market. Increasing number of public-private partnerships for the infrastructural growth in various economies will provide growth prospects for the industry. Developing economies in Asia Pacific and the Middle East are investing in advanced digital technologies and this is a key factor that drives the infrastructure monitoring market growth.
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Infrastructure monitoring market is expected to grow owing to increasing applications in mining, energy, aerospace & defense, civil, transportation, marine, automotive, and industrial machinery industries. The civil segment is anticipated to dominate the industry over the coming years. Increasing occurrences of structural failure and accidents along with the growing importance of large civil projects are projected to drive the industry growth. Countries including Japan, India, the UK, and the U.S. are investing in constructing critical infrastructural facilities such as dams, highways, tunnels, bridges and residential & commercial buildings for economic development. This is expected to fuel the infrastructure monitoring market growth over the forecast timespan.
Key players in the infrastructure monitoring market include Structural Monitoring Systems Ltd., Sixense, Geomotion Singapore, RST Instruments Ltd., Campbell Scientific, Inc., Acellent Technologies, Inc., Cowi, Geocomp Corporation, and Digitexx Data Systems, Inc. In June 2017, Acellent Technologies, Inc. announced a strategic collaboration with Testia GmbH, through a Memorandum of Understanding (MOU) with an aim to commercialize, market and install the structural health mapping solutions by Acellent. Increasing competition among major players to offer advanced solutions is driving the infrastructure monitoring market.
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